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Instagram, the photo-sharing app of Facebook
(FB), is testing a shopping feature called Checkout. Shopify stock fell on the news, though Instagram in a blog said the e-commerce tool provider could be a potential partner.XShopify (SHOP) stock slipped 1.8% to close at 202.09 on the stock market today. PayPal
Holdings (PYPL), meanwhile, could get a boost from the Instagram shopping initiative if commercially launched.PayPal stock gained 1.3% to 101.54. Facebook stock advanced 0.7% to 161.57. Facebook shares have gained 22% in 2019.Facebook's Instagram is testing the Checkout services with Nike (NKE) and designer fashion platform Revolve. Instagram will charge merchants a selling fee."Checkout is just one part of our long-term investment in shopping," the Instagram business blog said. "People will be able to pay with Visa (V), Mastercard (MA), American Express (AXP), Discover (DFS) and PayPal."PayPal Looms As Instagram PartnerThe blog went on to say: "For brands, access to Checkout will be limited during this closed beta. When we expand, businesses will be able to integrate directly or work with partners including Shopify, BigCommerce, ChannelAdvisor, CommerceHub and more in the future. Payments will be processed in partnership with PayPal."Facebook has tried many times to build e-commerce businesses, with varied success. PayPal, though, has been building ties to Facebook. Facebook users in the U.S., for example, can send and receive person-to-person payments over Facebook Messenger.PayPal could expand its Facebook relationship at the expense of startup Stripe, says Lisa Ellis, analyst at MoffettNathanson.PayPal Tops Stripe For Instagram Business?"This partnership also represents a competitive win for PayPal. Instagram's prior, more limited commerce offerings were at least partially powered by Stripe," said Ellis in a report. "We view this partnership as evidence that the value proposition of PayPal's Braintree service plus full ecosystem of offerings remains strong."Shopify sets up e-commerce websites for small businesses, and partners with others to handle digital payments and shipping. It also offers customer relationship management software so businesses can do targeted marketing for their clients."Shopify has been partners with Facebook for a long time," said Samad Samana, a Jefferies analyst in a report. "Merchants can sell their products on Instagram by tagging them in posts and stories. Customers wanting to purchase tagged products on Instagram can tap a link to view and buy a product in the businesses online store.""It is possible (though unlikely) some smaller merchants may choose to start selling directly on Instagram rather than spending the time and effort to build an online storefront," he added.Shopify stock is on the IBD Leaderboard. Shopify stock has gained 29% from a year ago.Follow Reinhardt Krause on Twitter @reinhardtk_tech.YOU MAY ALSO LIKE:Chart Reading For Beginners: What's In A Stock Chart? Why Use Charts?New Option Strategy Limits Risk Around EarningsGet Free IBD Newsletters: Market Prep | Tech Report | How To InvestSee Stocks Just Added To — And Cut From — IBD's Top ScreensTrack Daily Stock Market Action With The Big Picture The post What Instagram Shopping App Test Means For Shopify Stock, PayPal appeared first on Investor's Business Daily. Weiter zum vollständigen Artikel bei "Investors Business Daily"
Quelle: Investors Business Daily