Shopify launches new cashback rewards program, refocusing on Shop app!

It is learned that according to foreign media reports, Shopify recently announced that it will launch a new rewards program in its Shop application called "Shop Cash". The program will provide 1% cash back for goods purchased through the Shop Pay online checkout service.

Once a purchase is complete, shoppers will see their rewards appear in their Shop Pay wallet in the Shop app. These rewards can be redeemed on future purchases. When shoppers complete their purchase, they will be able to use their Shop Cash balance or the preferred payment method they previously selected.

Shopify stressed that the Shop Cash rewards program is now live and available for all eligible U.S. merchants and shoppers’ Shop Pay purchases.

To celebrate the launch of the program, Shopify is also holding its first "Shop Day" shopping event and giving away more than $1 million in Shop Cash. The company is working with some merchants, including MrBeast and Monday Swimwear, to share customized links with fans on their social channels. Shoppers can redeem Shop Cash by clicking on these links and spending directly in the Shop app. Shopify said that once claimed, users must redeem it within 30 days.

“Shop has become an incredible app that allows shoppers to discover great brands, check out with one click, and track their orders in real time,” said Shopify President Harley Finkelstein in a statement. “Shop Cash represents the next step in the evolution of Shop, connecting independent brands to more shoppers and rewarding those who become loyal fans.”

It is learned that Shopify launched the Shop app in 2020. The app is actually an update and renaming of the "arrival" app that tracks packages from Shopify merchants and other retailers. Shop also has a package tracking function. It also allows consumers to browse the information flow of recommended products, learn more about each brand, and use Shop Pay to shop.

Shopify launched the Shop app back in 2020. The app is actually an update and rebrand of Arrive, an app for tracking packages from Shopify merchants and other retailers. Shop includes those same package tracking features, but it also allows consumers to browse information about recommended products, learn more about each brand, and make purchases using Shop Pay.

Shopify notes that 35% of orders on the Shop app are repeat purchases, and that Shop Pay can increase conversion rates by 50% compared to guest checkout.

Notably, this new initiative comes on the heels of Shopify’s partnership with Israeli B2B payments startup Melio to launch a new bill payment tool designed to allow merchant customers in the U.S. to manage their expenses and suppliers through its platform.

Editor ✎ Nicole/

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