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MarketScreener Homepage  >  Equities  >  Nyse  >  Shopify Inc.    SHOP   CA82509L1076

SHOPIFY INC.

(SHOP)
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A World of Opportunity: Shopify Launches Partnership with Alipay to Help Merchants Access New Global Consumers

11/17/2020 | 08:11am EST

Today, we're announcing a partnership with Alipay, Asia's leading digital wallet platform, unlocking the power of cross-border commerce for Shopify's merchants. The new payment gateway will allow Shopify merchants to seamlessly accept payments through Alipay from more than one billion annual active users in China alone - and, in the future, hundreds of millions more across Asia.

In the past, Shopify merchants have been able to offer Alipay as a payment method through third-party providers. Now, through the Alipay payment gateway, Shopify merchants will reduce friction for consumers looking to make purchases with their preferred payment method, creating even greater opportunity to tap into some of the world's largest shopping seasons and holidays such as the upcoming Lunar New Year in February and, most notably, the 11.11 Global Festival, popularly known as Singles Day or Double 11.

Each year in November, Singles Day draws hundreds of millions of shoppers. According to Alibaba, this year's event generated gross merchandise volume (GMV) of $74 billion over the course of the 11-day campaign. U.S-based businesses earned more than $5.4 billion in sales from Chinese consumers, making the U.S. the top international market during the festival.

'At Shopify, we believe in a world of borderless commerce and are focused on helping our merchants build thriving businesses-not just within their own markets, but on a truly international scale,' said Kaz Nejatian, VP, Product, Merchant Services at Shopify. 'Reaching consumers across Asia is an enormous growth opportunity for our merchants, and Alipay has brought inclusive financial services to more than one billion people in China. Through today's partnership, we'll help our merchants provide the best possible shopping experiences for this new audience of cross-border consumers.'

The new Alipay payment gateway is available now to Shopify merchants in the U.S., with more markets to come in the future, including Hong Kong, India, South Korea, Indonesia, the Philippines, Malaysia, Thailand, Pakistan, and Bangladesh.

U.S. Shopify merchants can sign up here.

Disclaimer

Shopify Inc. published this content on 17 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2020 13:10:00 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 2 858 M - -
Net income 2020 237 M - -
Net cash 2020 5 915 M - -
P/E ratio 2020 608x
Yield 2020 -
Capitalization 144 B 144 B -
EV / Sales 2020 48,2x
EV / Sales 2021 36,1x
Nbr of Employees 5 000
Free-Float 89,9%
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Technical analysis trends SHOPIFY INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 36
Average target price 1 158,50 $
Last Close Price 1 170,47 $
Spread / Highest target 23,9%
Spread / Average Target -1,02%
Spread / Lowest Target -57,6%
EPS Revisions
Managers and Directors
NameTitle
Tobias Albin Lütke Chairman & Chief Executive Officer
Harley Finkelstein President
Toby Shannan Chief Operating Officer
Amy E. Shapero Chief Financial Officer
Jean-Michel Lemieux Chief Technology Officer
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