Shopify’s Gross Payments Volume (GPV) (2016-2022)

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This statistic highlights Shopify’s Gross Payments Volume (GPV), reported on a quarterly basis from Q1 2016 onwards. 
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This statistic highlights Shopify’s Gross Payments Volume (GPV), reported on a quarterly basis from Q1 2016 onwards. 

Shopify Inc., headquartered in Ottawa, Ontario, is a multinational Canadian e-commerce company. It is also the name of a unique e-commerce platform for online stores and retail point-of-sale systems. It provides an all-in-one platform for starting, running, establishing and growing your business. This company helps people become self-reliant by facilitating the start, operation, and growth of their business.

What is Gross Payment Volume (GPV)?

The Gross Payment Volume (GPV) is an important indicator that tracks the total amount of all card payments processed by the seller through the company’s payment ecosystem minus refunds. This includes peer-to-peer payments and transactions with sellers using payment apps. Generation of revenue is done through transaction fees charged for payments. However, GPV also has a positive correlation with the number of users on Shopify’s platform.

Shopify’s Gross Payments Volume (GPV)

Category Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021
Shopify’s Gross Payments Value (GPV) $19.10 $17.30 $20.30 $20.50 $27.70

(All figures are in billions)

Shopify’s Gross Payments Volume (GPV) inclined sharply from $19.10 billion in Q4 2020 to $27.70 in Q4 2021, marking a whopping 45.02% of incline on a year-on-year basis. It witnessed an increment of 35.12% on a quarterly basis, from $20.5 billion in Q3 2021 to $27.7 billion in Q4 2021.

In 2020, Shopify’s Gross Payments Volume (GPV) has shown a slight increase from $13.40 billion in Q2 2020 to $14 in Q3 2020, marking an increase of 4.47%. This incline further continued as Shopify’s Gross Payments Volume (GPV) inclined to $19.10 billion in Q4 2020 from $14 billion in Q3 2020 accounting for an increase of 36.42%. This was followed by a decline in the Gross Payments Volume (GPV) dropped from $19.10 billion in Q4 2020 to $17.30 billion in Q1 2021, indicating a decline of 9.42%.

In 2021, a similar trend is witnessed as of 2020. Thus, Shopify’s Gross Payments Volume (GPV) rose from $17.30 billion in Q1 2021 to $20.30 billion in Q2 2021, projecting an increase of about 17.34%. This was followed by a further incline of around 1% as it increased from $20.30 billion in Q2 2021 to $20.50 billion in Q3 2021. This is followed by a sharp increase from $20.50 billion in Q3 2021 to $27.70 billion in Q4 2021.

On an overall analysis of the past five years, it can be seen that the Gross Payments Volume (GPV) witnessed fluctuations. However, on a closer look at the graph, it can be concluded that there is a continuous and clear incline of Shopify’s Gross Payments Volume (GPV) from Q1 2020 to Q4 2021. 

About Shopify

Shopify is a world-leading commerce company that provides reliable tools for starting, growing, marketing, and managing retail businesses of all sizes. Shopify improves commerce for everyone with platforms and services built to increase reliability and provide consumers everywhere with a better shopping experience. Shopify powers millions of companies in more than 175 countries and is trusted by brands such as Allbirds, Gymshark, PepsiCo, and Staples.

Founded in 2006, the company is headquartered in Ottawa, Ontario. In April 2021, Shopify made its first foray into Last Mile Logistics by investing in Swyft, a Toronto-based digital logistics startup. The company helps people become self-employed by facilitating the start-up, operation, and growth of their businesses. As of 2022, Shopify is among the top 10 listed companies in Canada by market capitalization. In April 2010, Shopify released an unfastened cell app at the Apple App Store. The app could Shopify save proprietors view and control their shops from iOS cell devices. The common stock of the company is publicly traded on the NYSE under the ticker SHOP.

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