Shopify has announced on Friday a new rewards program within its Shop app, dubbed Shop Cash. The e-commerce powerhouse's latest offering provides shoppers 1% cashback on purchases made through the Shop Pay online checkout service. The program is funded entirely by Shopify and has been launched for immediate use on all eligible Shop Pay purchases in the United States.
Upon completing a purchase, users will see their rewards reflected in their Shop Pay wallets within the Shop app. These rewards can be redeemed on future purchases in the same app. While checking out, shoppers can utilize their Shop Cash balance along with their preferred payment method.
In honor of the Shop Cash program launch, Shopify is hosting an inaugural Shop Day event and giving away more than $1,000,000 in Shop Cash. The company has partnered with several merchants like MrBeast and Monday Swimwear, who will disseminate custom links via their social media channels. Consumers can redeem Shop Cash by clicking these links and making purchases directly in the Shop app. Once claimed, shoppers will have up to 30 days to redeem their Shop Cash.
Shopify President Harley Finkelstein commented on the program's launch, stating, 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. Finkelstein further added, Shop Cash represents the next evolution of Shop, connecting independent brands to more shoppers and rewarding those shoppers for being loyal fans.
Initially introduced in 2020, Shopify's Shop app was an update and rebrand of the Arrive app. While maintaining the package-tracking capabilities of Arrive, the Shop app also enables consumers to browse recommended products, delve into brand stories, and make purchases using Shop Pay. According to Shopify, around 44% of orders on the Shop app are repeat purchases, and Shop Pay has been shown to increase conversion rates by as much as 50% compared to guest checkout.
The launch of the Shop Cash rewards program coincides with Shopify's recent collaboration with Israeli B2B payment startup Melio to introduce a bill payment tool. The tool, created for US-based merchant customers, aims to streamline expense management and vendor communication via Shopify's platform. As commerce and the platform extends to no-code solutions like AppMaster.io, the move by Shopify further demonstrates their commitment to fostering loyalty and driving more user engagement with its integrated app ecosystem.
