“Hold on, I think I’ve got another penny in one of these pockets…”
It was only a couple of decades ago where paying with paper (not even polymer!) and metal coinage was the go-to. A common alternative, hardly touched today outside of legacy business, was the classic cheque. Cash registers for point-of-sale transactions were hefty, clunky blocks. Only fancy business folk had credit cards and even then used them sparingly. [Read more…] about Seven Fintechs Innovating the Payments Space in Canada
Clearco is in muddy water.
The Toronto-based financial technology firm, founded in 2015, has abruptly reversed course. According to a memo issued to staff on Friday, a quarter of the company’s 500-strong workforce is being trimmed and it may abandon multiple international markets. [Read more…] about Clearco Abruptly Reverses Course, Trims 25% of Workforce
The brains behind Fintech.ca have been covering Shopify since 2006.
It is among the largest and most storied technology firms in Canada, having helped pioneer modern commerce for the internet.
Our story begins with a handful of snowboard enthusiasts looking to make a buck off their passion in the fine city of Ottawa—or rather, not anywhere at all, but online. [Read more…] about A Succinct Record of Shopify
Shopify has not proven immune to the global market downturn.
The Ottawa-based e-commerce titan announced online that it is letting to of roughly 1,000 employees, or 10% of its staff. [Read more…] about Shopify Loses Bet on Future of Commerce, Axes 10% of Staff
Despite a current downturn, the global cryptocurrency market remains active and fascinating to say the least—and a trend with enough traction to grab the attention of virtually all companies. [Read more…] about Five Fintech Firms Fully Embracing Crypto in Canada
Ushering in “the next era of commerce,” Shopify this month announced many new features and upgrades to its platform, including partnerships with two of the biggest technology companies on the planet. [Read more…] about Shopify Partners with Twitter, Google for Latest Commerce Integrations
Shopify is well aware of the buzz surrounding non-fungible tokens.
Buy them, sell them. Sounds commerce-y, right? Yes, but Shopify is looking to extract more dynamic value from the emerging blockchain technology. [Read more…] about Shopify Embraces NFTs with ‘Tokengated Commerce’
Crypto.com announced recently that Shopify merchants can now enable Crypto Pay on their online storefronts, giving customers more ways to make their purchases.
Founded in 2016, Crypto.com is an exchange app offering 250 cryptocurrencies to 50 million customers across 90 countries. Crypto Pay allows merchants to receive cryptocurrencies instantly from a global base of users with zero transaction fees.
“Providing more customers and merchants the ability to engage in commerce using cryptocurrencies is a priority for Crypto.com,” said Kris Marszalek, Chief Executive Officer of Crypto.com. “We are incredibly excited to integrate into Shopify, and to bring this capability to even more customers and merchants around the world.”
Through Crypto.com Pay, customers can pay with more than 20 tokens, including BTC, ETH, CRO, SHIB, and even DOGE.
“We’re happy to welcome Crypto.com to help Shopify merchants provide an additional fast and convenient way for customers to pay for their online orders,” said John Lee, Lead of Blockchain Ecosystem at Shopify.
Last month, Shopify struck a similar integration deal with Strike, a digital payments platform built on Bitcoin’s Lightning Network.
“Our growing blockchain ecosystem demonstrates our commitment to supporting merchants with alternative payment methods on their storefronts, helping to further expand what’s possible in commerce,” Lee added.
“We’re proud to partner with Shopify to provide merchants with a cheaper and faster way to accept US dollars using Bitcoin technology,” Jack Mallers, CEO of Strike, said in April. “The Lightning Network is a global payments network that lowers costs, enhances speed, drives innovation, improves financial inclusion, and brings the power of choice to consumers and merchants.”
In a similar vein, crypto acceptance is also gaining steam amongst non-profit organizations too.
Toronto’s Newton Crypto today announced that it has completed a $25 million Series B funding round, led by the partners from DV Chain and with participation from Shopify co-founder Tobias Lütke’s Snowdevil Capital. [Read more…] about Shopify Founder Tobi Lütke Among backers In Crypto Platform Newton
Ottawa-based e-commerce giant Shopify recently announced its first-ever $1 billion revenue quarter. As part of its Q2 2021 financial results, Shopify claimed $1.12 billion in total revenue, up 57% year-over-year. [Read more…] about Shopify Announces First Billion-Dollar Quarter
