Keep an eye on Shopify looking for a way to eliminate pesky credit card fees and increase fluidity for ecommerce transactions - a benefit to both consumer and merchant especially in regions lacking credit card penetration and financial infrastructure.
Shopify has its sites (pun intended) set on global domination – in the most positive way possible – and they won’t let the fact that some regions aren’t quite conventionally “prepared” for ecommerce yet stop them.
Effectively introducing ecommerce in every civilized corner of the globe would have world-(as we know it)-changing ramifications, further propagating the ecommerce utopia that mother Earth’s largest ecommerce platform envisions for all.
“Our mission is to make commerce better for everyone and to do that, we spend a lot of our time thinking about how to make commerce better in parts of the world where money and banking could be far better. That’s why we decided to become a member of the Libra Association. This is one step, but not the only step we’ll be taking to be a part of the solution to this global problem.”
In short, Libra is an experimental blockchain digital currency created by Facebook. Planned to officially launch this year, Libra would seek to connect various platforms more closely through flexible transactions and purchases by providing a uniform asset used to trade for goods.
Basically consumers will get to buy anything from Shopify, Facebook marketplace and any other participating organisation using units of digital Libra currency instead of credit cards or other payment methods.
“Our mission has always been to support the entrepreneurial journey of the more than one million merchants on our platform. That means advocating for transparent fees and easy access to capital, and ensuring the security and privacy of our merchants’ customer data. We want to create an infrastructure that empowers more entrepreneurs around the world.”
Make sense? I hope so. It’s a good thing – we promise!