Two years after launching its first hardware product, Ottawa commerce giant Shopify (TSX:SHOP)(NYSE:SHOP) is doubling down on brick-and-mortar retail with a new point-of-sale system and card reader for its merchants.
The new products are aimed at merchants looking to bridge their online businesses into a physical storefront. In addition to a card reader that enables both chip and tap-based payments, the new hardware includes a dock and stand to complete the retailer’s checkout setup. A detachable tablet works with the dock or stand, allowing merchants to take their point-of-sale to customers throughout their stores.
All products are connected to the merchant’s online store, a useful feature for tracking inventory across the business’s various storefronts.
Shopify chief product officer Craig Miller said in a statement that the firm’s digital-native merchants can build a more loyal customer base by bridging their online businesses into the physical space.
The Ottawa-based firm first got into the hardware game in 2017 with the original version of its card reader. Shopify doubled down on physical retail this past year with its own storefront in Los Angeles where merchants can come to get sales tips and attend workshops with retail experts.
Shopify is having a banner year on the markets to-date, as the firm’s stock price has risen roughly 58 per cent to $295 on the Toronto Stock Exchange since the start of the year.