Payments

As Square moves online, Shopify embraces in store

  • Shopify has introduced three new POS devices.
  • Shopify wants to power commerce across channels for its clients.
As Square moves online, Shopify embraces in store

Shopify rolled out three point of sale devices for use inside brick and mortar stores.

Best known as an online store hosting company, Shopify added to its existing retail hardware with The Shopify Tap & Chip Reader, Dock, and Retail Stand. With more in-store options, Shopify not only expands its footprint into retail but gives its clients more functionality to manage their businesses across channels.

Shopify’s Tap & Chip Reader

What’s going on here: Shopify wants to help its customers, many of whom began as digitally native brands, expand into retail. This cuts into Square’s turf, which does billions of dollars servicing retail store owners with payments and finance tools. Square, in turn, is moving deeper online, with a recent relaunch of its online store. We’re seeing a convergence of commerce and payments platforms.

“We’ve helped merchants successfully build and grow their online stores for 14 years, and now we’re the best partner to help entrepreneurs capitalize on the huge opportunity of in-person selling,” said Craig Miller, chief product officer at Shopify.

“Digitally native brands want to build loyal audiences through retail locations, and we’ve designed the best products to help them achieve this success.”

From store hosting to business hosting: These new POS tools also point to the maturation of Shopify’s business. Shopify is evolving from an online store host to a business platform, including offering capital for select clients. Expanding across channels gives Shopify a bigger piece of the commerce pie and further locks in its clients.

Payments

What’s behind software companies becoming payment companies?

  • Software companies are increasingly getting deeper into payments.
  • This increases revenues and expands their total addressable markets.
Zack Miller | December 03, 2019
Payments

Western Union selects AWS as preferred cloud provider

  • The 168 year old financial services firm is making moves for the future.
  • It's turning to AWS to build cloud-native applications and service Amazon shoppers in local currencies.
Zoe Murphy | November 19, 2019
Payments

A new leg of growth: Brex launches first co-branded card with Bank of the West

  • Bank of the West startup customers can apply and receive for a co-branded credit card.
  • This is the first time Brex has launched a co-branded card.
Zoe Murphy | November 06, 2019
Payments

Research: How Apple Card is performing after its public launch

  • After touting Apple Card's successful launch, Goldman Sachs finally provides the public with some data.
  • After publicly launching in third quarter, Goldman has extended almost $10 billion in credit.
Zoe Murphy | November 04, 2019
Payments

American Express partners with Nova Credit translating international credit scoring for immigrants and expats

  • Immigrants to the US complain about how hard it is to obtain credit.
  • Amex has partnered with Nova in translating foreign scores to extend credit to immigrants and expats.
Michael Deleon | October 25, 2019
More Articles