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.
close

Email a Friend

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.

0 comments on “As Square moves online, Shopify embraces in store”

Payments

More fintech firms are offering crypto rewards on debit and credit cards

  • A growing number of fintechs are providing bitcoin rewards on debit or credit card purchases.
  • Unifimoney is the first to offer credit card rewards in three different asset classes.
Ismail Umar | April 22, 2021
Payments

Looking to the future: Healthcare is the next frontier for Buy now, Pay later

  • Walnut is one of a few lending apps that strives to make healthcare more affordable in the US.
  • Experts believe that there are opportunities for growth in the healthcare, service and travel industries over the next few years.
Shehzil Zahid | April 20, 2021
Payments

With Direct Payouts, Visa can push payments to cards and accounts cross border

  • Visa Direct has built an ecosystem of senders and receivers powered by push payments.
  • Visa is now launching Visa Direct Payouts, extending push payments cross border and to more types of accounts.
Zachary Miller | March 30, 2021
Payments

‘Payment companies are taking a clear political stance’: Politics and payments in the wake of the Trump administration

  • Should payments be politicized? As more than 400 people face criminal charges for the Capitol riots, we explore the repercussions on the payments industry.
  • Experts weigh in on potential polarization and regulations in the long term.
Rimal Farrukh | March 24, 2021
Payments

‘2020 was the year of QR code adoption — 2021 will be the explosion’: QR codes continue to climb in popularity

  • Past the three-month mark of 2021, we’re still seeing QR codes grow in popularity.
  • But how this payment method will expand continues to leave the future of QR codes kind of blurry.
Rivka Abramson | March 18, 2021
More Articles