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Facebook Inc

Instagram launches in-app shopping feature

PayPal is partnering with the social media platform and will be available as a payment option in the app

A markup of Instagram's Checkout feature
Twenty-two companies' products are available for purchase in the app

Users can now shop on Instagram thanks to a new feature unveiled Tuesday called “Checkout,” which lets users purchase products directly from a brand’s post, arrange payment and track shipping, all through the mobile app.

As of now, 22 business are available for in-app shopping – primarily clothing and makeup brands such as sporting goods retailer Nike (NYSE:NKE), clothing retailer H&M and Kylie Cosmetics – with more companies coming soon.

Facebook Inc (NASDAQ:FB), which owns Instagram, saw its share price rise 1.7% to $163.13.

READ: Facebook shares drop as two more senior execs depart

The move is a potential gamechanger for a company looking to tap into a younger online shopping demographic. According to Pew Research Center data from 2018, 72% of US teens 13 to 17 years old said they use Instagram. 

When making a payment, users will be able to use their PayPal Holdings Inc (NASDAQ:PYPL) accounts. The payment app announced a partnership with Instagram on Tuesday. The company's PayPal for Partners platform allows Instagram to manage the end-to-end commerce experience. 

Paypal stock rose 0.9% to $101.14.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

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Market: NASDAQ
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