PayPal Holdings, Inc. (PYPL) has announced an expansion of its strategic partnership with Shopify Inc. (SHOP) in the United States. This latest development will see PayPal become an additional credit and debit card processor for Shopify Payments, leveraging its “PayPal Complete Payments” solution. This integration will provide Shopify merchants with access to flexible and advanced developer tools, especially beneficial for marketplaces and platforms.
The partnership seamlessly integrates PayPal wallet transactions into Shopify Payments in the US, streamlining processes for merchants. This includes simplifying order management, payouts, reporting, and chargeback handling. The unified experience aims to offer merchants a comprehensive platform, combining innovative payment options with improved operational efficiency.
This news follows PayPal’s recent announcement regarding the integration of its debit card with Apple’s mobile wallet, offering cashback rewards to gain a foothold in the US point-of-sale (POS) payments market. Last month, PayPal and Fiserv expanded their existing partnership to facilitate the integration of PayPal, Venmo, and related services for Fiserv clients.
Investors seeking exposure to PYPL can consider the Global X FinTech ETF (FINX) and the Amplify Mobile Payments ETF (IPAY). PYPL shares are currently trading at $69.63, up 1.07% at the last check on Monday.
This strategic alliance between PayPal and Shopify signifies a significant step toward simplifying and enhancing the payment experience for online businesses in the US. It demonstrates both companies’ commitment to providing merchants with robust and versatile tools to manage their operations efficiently.
