The technology sector has been among the worst-performing sectors of the S&P 500 of late. The reason was that there were increased concerns about potential interest rate hikes. What about Shopify? And who can help you with the right payment processors for your eCommerce business?
Payment Processor Trend: Shopify
Since the beginning of the year 2022, the technology sector has drifted lower. Shopify stock has witnessed a much steeper decline of 37%. More specifically:
- Traders and investors have offered a bid down the share prices of Shopify ahead of earnings.
- The Shopify share price has recently gone below its 20-day moving average.
- Shopify’s open interest correlates to thin selling zones based on volume.
- Based on trading volumes and open interest, options traders forecast downside for Shopify.
- The volatility-based support and its resistance speak of a stronger move to the upside.
eCommerce and Payment Processors: Shopify
The number of people making purchases online is growing. COVID-19 has accelerated this trend, and 23% of shoppers reported they’ve started completing purchases over the internet more frequently. The United States represents the second-largest eCommerce market. It comes after China, and the United Kingdom represents the third-largest market.
With eCommerce growing exponentially, it’s more critical than ever to choose the right payment processor for your online business. For this, you should turn to a reputable merchant-services comparison company in the U.S. that can help you make the right choice when it comes to payment processors.
Let’s take Shopify. Small business owners can use the Shopify platform to operate their business. This is the most popular platform in the world. Shopify could also be considered a payment processor. According to Shopify, the number of Shopify customers as of June 2021 made up nearly 2.3 million.
Did you know that Shopify is the first commerce platform introducing organic product discovery and shopping tabs to TikTok so merchants can deepen their interactions with consumers? Moreover, Shopify Markets is turning into a new global commerce hub for merchants. 25% of Shopify’s recurring revenue is generated from Shopify Plus.
Payment Processors: Shopify
Shopify has witnessed a decline lately. This eCommerce platform could also be viewed as a payment processor. To choose the most suitable payment processor for your eCommerce needs, work with a respected payment-comparison expert in the U.S.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of payment processors. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie with ice-cream on his backyard porch, as should all right-thinking people.