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What Is Shopify Money?

Last updated on October 2, 2022 @ 2:46 am

Shopify is a Canadian e-commerce company headquartered in Ottawa, Ontario. It is also the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems.

Shopify offers online retailers a suite of services “including payments, marketing, shipping and customer engagement tools to simplify the process of running an online store for small merchants.” The company also provides a platform for developers to create applications for merchants using Shopify’s API.

Shopify was founded in 2004 by Tobias Lütke, Daniel Weinand, and Scott Lake after attempting to open Snowdevil, an online store for snowboarding equipment. Shopify was initially written in Ruby on Rails by Lütke. The first public version of Shopify was released on June 21, 2006.

In 2010, Shopify launched its App Store. The App Store allows merchants to add features to their online stores such as accounting, marketing, and shipping.

In 2015, Shopify acquired Boltmade, a web design and development agency based in Waterloo, Ontario.

PRO TIP: Shopify Money is a new service that allows Shopify merchants to get paid faster. It is currently in beta and is only available to US-based Shopify merchants. Merchants who sign up for Shopify Money will be able to receive payments from Shopify in as little as two days. There is no fee to sign up for Shopify Money, but there is a 3% transaction fee for each payment that is processed through the service.

In 2016, Shopify partnered with Amazon to launch Amazon Pay for Shopify stores in the United States.

In 2018, Shopify acquired TicTail, a Swedish e-commerce company.

Shopify has been publicly traded on the Toronto Stock Exchange since 2015.

What is Shopify Money?
Shopify Money is a service that allows Shopify merchants to send and receive payments from their customers.

The service is provided by Stripe, a payment processing company that works with businesses of all sizes. With Shopify Money, businesses can accept credit and debit card payments as well as ACH transfers from their customers. The service is available in the United States and Canada.

Morgan Bash

Morgan Bash

Technology enthusiast and Co-Founder of Women Coders SF.