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.
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.