What: Shop Pay becomes a component usable independently from Shopify.

Why it is important: The more people use Shop Pay, the more people will do one-click purchases and hence the better conversion Shopify itself will have for merchants.

Shopify, a platform known for aiding high-growth brands, is set to offer its advanced technology to larger brands. The firm already supports prominent names such as Glossier, Alo Yoga, Figs, and Staples. In 2023, it introduced "Commerce Components," giving more enterprise retailers access to Shopify's technology.

The company is now providing the "Shop Pay conversion magic" to the world's largest brands, even those not on Shopify. This move enables the implementation of an accelerated checkout process for enterprise clients, enhancing their customer experience.

The Shop Pay component will be available for enterprises in the US, Canada, UK, Australia, and New Zealand. It reportedly increases conversion by up to 50% compared to guest checkout. Additionally, Shopify is enhancing its integration with Adyen, a global payment platform, to provide more payment options to enterprise retailers.

Shop Pay expands beyond Shopify