Shopify is working with payment services provider 2Checkout to allow merchants to accept payments in more currencies and regions.
Columbus, Ohio-based 2Checkout will integrate its software into Shopify's e-commerce platform, allowing merchants in 196 countries to conduct business globally in 26 currencies and 15 different languages, says Kevin Gallagher, senior vice president business development at 2Checkout.
"The challenges for Shopify were that in a lot of international markets they did not have an integrated payments provider," Gallagher says.
Ottawa-based Shopify, which provides an "online storefront" for merchants in addition to payment methods and shopping carts, says it powers more than 100,000 retailers in 122 different countries.
Shopify established Shopify Payments last August, using San Francisco-based Stripe to power online and mobile payments in some of its markets. 2Checkout will provide the service in countries in which Shopify Payments is not available.
2Checkout also provides merchants with free fraud security coverage through a system that incorporates more than 300 customized fraud rules for screening transactions.
Neither Shopify nor the online merchants store transaction data. As the gateway provider and processor, 2Checkout stores data on its secure server, Gallagher says.
2Checkout operates a pay-for-performance revenue model, charging a percentage of each transaction. It charges no other fees for gateway or merchant account services.
2Checkout has been available to Shopify merchants for about a month, as the companies launched the integration in "quiet mode," Gallagher says. "We expect it to be very successful, and it's just a great fit for both companies."
Shopify's retailers include Tesla Motors, Gatorade, Amnesty International, Google and CrossFit. The company was founded in 2006 and says it has received $122 million in funding from Omers Ventures, Insight Venture Partners, Bessemer Venture Partners, FirstMark Capital, Felicis Ventures and Georgian Partners.
Last week, 2Checkout revealed its plans to use a $60 million investment to expand its activities in international markets.