What's Going On With Shopify Stock Thursday?

Amazon.Com Inc AMZN has revealed a new "Buy with Prime" app for Shopify Inc SHOP merchants, streamlining the shopping process for Prime members. 

The update triggered a rally in the e-commerce platform stock price. With this app, when browsing a product on Shopify, Prime members can choose the "Buy with Prime" option, leading them to a swift checkout process within Shopify. 

This service grants Prime members the perks of speedy, free shipping and hassle-free returns through Amazon's vast logistics network. 

By logging into their Amazon accounts, shoppers can make payments using their stored Amazon payment details. Shopify Payments then handles these payments. 

Beginning as an exclusive invite for a few Shopify merchants, the app will soon be open to all U.S.-based Shopify sellers linked to Amazon's delivery network by September's end. 

This new app doesn't just ease the shopping process for customers; it helps to make merchants' operations smoother. 

It integrates seamlessly with existing Shopify settings and third-party apps. Order details, promotions, product listings, and taxes automatically sync in Shopify's administrative dashboard. 

Importantly, sellers retain ownership of all customer data from these transactions, but it's now more user-friendly and easier to navigate within Shopify's interface. 

Amazon Pay will join the list of payment methods available on Shopify Payments as a bonus. Notably, integrating "Buy with Prime" has boosted shopping conversions by an impressive 25% on average.

Price Action: SHOP shares traded higher by 6.67% at $64.01 premarket on the last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.