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Shopify Shares Rise

Shopify’s stock increased up to 9% in early trade on Thursday after the Canadian e-commerce firm said that it had reached an agreement with Amazon to make its “Buy with Prime” programme available to merchants.

The firms said on Wednesday that Shopify merchants with U.S. addresses will soon have access to Amazon’s Buy with Prime service, which will enable them to display the Prime emblem and offer rapid turnaround delivery choices on their shops. Prime members can pay using their Amazon accounts during checkout.

Some Shopify merchants can access the capability right now only by invitation; but, by the end of September, it will become accessible to all Shopify sellers who choose to use Amazon’s logistical services.

The news caused Amazon’s shares to increase by more than 2%.

Buy with Prime was introduced by Amazon in April 2022. According to analysts, the programme has the potential to grow into a major business over time, bringing in $3.5 billion in potential revenue for the company.

Source (CNBC)

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