Shopify’s Shop app is introducing a new rewards program called Shop Cash, the e-commerce platform announced on Friday. The new program is funded by Shopify and earns shoppers 1% back on purchases made using its Shop Pay online checkout service.
Once a purchase is made, shoppers will see their rewards appear in their Shop Pay wallets in the Shop app. These rewards can be redeemed on future purchases within the Shop app. When shoppers are completing a purchase, they will be able to use their Shop Cash balance alongside their preferred payment method.
Shopify notes that the Shop Cash rewards program will be available immediately on all eligible Shop Pay purchases from merchants and shoppers based in the U.S.
In celebration of the launch, Shopify is hosting an inaugural Shop Day event today and giving away more than $1,000,000 in Shop Cash. The company is partnering with a handful of merchants, including MrBeast and Monday Swimwear, to share custom links across their social channels to their fans. Shoppers can redeem Shop Cash by clicking on those links and spending directly in the Shop app. Their Shop Cash can be redeemed for up to 30 days once it’s been claimed, the company says.
“This is a coming of age moment for Shop. It’s become an incredible app that allows shoppers to discover great brands, check out with one tap, and track orders in real time,” said Harley Finkelstein, President of Shopify, in a statement. “Shop Cash represents the next evolution of Shop, connecting independent brands to more shoppers, and rewarding those shoppers for being loyal fans.”
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 capabilities, but it also allows consumers to browse a feed of recommended products, learn more about each brand and make purchases using Shop Pay.
The company says 44% of the orders on the Shop app are repeat purchases, and that Shop Pay can lift conversion by as much as 50% compared to guest checkout.
The launch of the new rewards program comes a few weeks after Shopify partnered with Israeli B2B payments startup Melio to launch a new bill pay tool designed to allow U.S.-based merchant customers to manage their expenses and vendors via its platform.
Shopify’s Shop app introduces a new ‘Shop Cash’ rewards program by Aisha Malik originally published on TechCrunch