Earlier this year, Shopify launched Commerce Components by Shopify, giving enterprise retailers access to the same Shopify components that power 10% of commerce in the US and tap into unmatched scale while picking the components they need to build leading customer experiences.

In response to strong demand from enterprise retailers, Shopify is opening access to its Shop Pay buyer network to the biggest brands, even if they’re not on Shopify.

By turning Shop Pay into a commerce component, Shopify is enabling enterprise customers to upgrade their customer experience without having to replace their commerce infrastructure. For enterprises based in the US, Canada, the UK, Australia and New Zealand, this means access to an accelerated checkout with more than 100 million buyers.

Shop Pay boosts conversion as much as 50% compared to a guest checkout, outpacing all other accelerated checkouts by at least 10%, according to a recent study by one of the Big Three consulting firms. The data also shows that the presence of Shop Pay, even when it isn’t used, results in higher conversion by 5%.

When someone with a Shop Pay account visits an online store, Shopify recognises them and pre-fills their information for a one-click checkout—leading to a four times faster experience than a guest checkout.

Shopify vice president of product and chief operating officer, Kaz Nejatian said, “Enterprises that don’t take advantage of Shop Pay are self-sabotaging. They are leaving money on the table. This is critical optionality in a hyper competitive retail environment. In an economy where big brands are competing more fiercely than ever to acquire customers, they need to pick and choose what they need to boost the top-line, without the compromise of a complete platform overhaul.”