Shopify unveils new point-of-sale hardware, expanding beyond its online platform [Globe and Mail, The (Toronto, Canada)]
Block, Inc. Class A, (SQ)
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Source: Globe and Mail, The
increase is unveiling new hardware for brick-and-mortar stores in a bid to expand its retail network during an e-commerce slowdown that has sharply impacted the Ottawa company's stock and profitability. The point-of-sale technology, dubbed POS Go, will first launch in the United States this week and expand to other countries in the coming months. It is part of a strategic shift at Shopify to blend its online platform of nearly two million merchants globally with services for offline retail. POS Go is a mobile payment terminal with a barcode scanner. It accepts tap, swipe and chip cards through a built-in credit and debit-card reader. A touch screen displays sales, analytics and inventory metrics, which are automatically integrated across all channels with every purchase. The payment machine is comparable to those from Shopify's competitors, such as Square Inc. and Lightspeed Commerce. But the new hardware emphasizes how Shopify is adapting to slower e-commerce growth and adding
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