Shopify has unveiled a new rewards program called Shop Cash within its Shop app. The program, funded by Shopify, allows shoppers to earn 1% back on purchases made using Shop Pay, the platform’s online checkout service.
Once a purchase is completed, shoppers will see their rewards reflected in their Shop Pay wallets in the Shop app. These rewards can be redeemed on future purchases made within the app, alongside the user’s preferred payment method.
The Shop Cash rewards program is available immediately for eligible Shop Pay purchases made by merchants and shoppers based in the United States.
To celebrate the launch, Shopify is hosting a special event called Shop Day, during which it will give away over $1,000,000 in Shop Cash. Partnering with selected merchants like MrBeast and Monday Swimwear, the company will share custom links across their social channels. Shoppers can redeem Shop Cash by clicking on these links and making purchases directly within the Shop app. The claimed Shop Cash can be redeemed within 30 days.
Harley Finkelstein, President of Shopify, expressed his excitement about the new rewards program, stating, “Shop Cash represents the next evolution of Shop, connecting independent brands to more shoppers and rewarding those shoppers for being loyal fans.”
Shopify launched the Shop app in 2020, as an updated version of Arrive, a package tracking app for Shopify and other retailers. In addition to package tracking, the Shop app enables users to explore a feed of recommended products, learn about brands, and make purchases using Shop Pay.
According to Shopify, 44% of orders on the Shop app are repeat purchases, and the use of Shop Pay can increase conversion rates by up to 50% compared to guest checkout.
The introduction of the Shop Cash rewards program follows Shopify’s recent collaboration with Israeli B2B payments startup Melio to offer a bill pay tool that allows U.S.-based merchant customers to manage expenses and vendors through the platform.