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Shopify Stock Increases After The Company Signs A “Buy With Prime” Agreement With Amazon

Following Shopify’s announcement that it had reached an agreement with Amazon to make its “Buy with Prime” programme available to merchants, its shares increased 10% on Thursday.

By using Amazon’s Buy with Prime service, American Shopify merchants will soon be able to display the Prime emblem and offer rapid turnaround delivery choices on their shops, the firms announced late on Wednesday. Amazon Prime subscribers can pay for their purchases using their Amazon accounts.

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 announcement caused Amazon’s shares to rise by 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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