Shopify’s Reunite event took place today and gave attendees an exclusive look into the latest updates and new products Shopify are creating for the future of merchants and their businesses.
With the future of ecommerce shifting, omnichannel commerce and new adaptable services are needed more than ever. The products Shopify announced during Reunite will empower Merchants with even more options when navigating the new world of online retail.
Shopify Balance will help close the gap of traditional banking services by putting the needs of smaller independent businesses first through flexible options. The early access will launch later this year and give Merchants access to vital financial products to help their businesses run and grow seamlessly without any monthly fees or minimum balances.
- Shopify Balance Account: A one-stop-shop within the Shopify admin where merchants can get a clear view of cash flow, pay bills, track expenses, and make decisions about the future of their business.
- Shopify Balance Card: Physical and virtual cards that merchants can use to access their money faster when spending in-store, with mobile or online, as well as withdrawing from ATMs.
- Rewards: We plan to offer merchants cashback and discounts on everyday business spending like shipping and marketing.
Buy Now, Pay Later
Shopify have also announced a Buy Now, Pay Later payments option called Shop Pay Installments which will let merchants offer more payment choice and flexibility at checkout with interest-free payment in installments. Shopify is set to launch Shop Pay Installments to eligible U.S merchants later this year.
Shopify has begun rolling out a new Local Delivery product for global merchants.
- Define a local delivery area using distance radius or zip/postal codes
- Set local delivery fees and minimum order price
- Fulfill local orders through Shopify, Shopify POS, and Shopify Mobile
- Use the new Shopify Local Delivery app to create optimized delivery routes, and send customer notifications when deliveries are on the way