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Fintech

TikTok expands into fintech with Shopify deal for shoppable video ads

The deal is TikTok’s first move into e-commerce as it seeks to compete with social media rivals

 TikTok logo is seen displayed on a smartphone.
TikTok logo is seen displayed on a smartphone. Photo: Igor Golovniov/Getty Images

Short-form video app TikTok is to allow users to buy products from videos posted on its platform, signing a partnership with e-commerce firm Shopify to seal the deal.

The tie-up will mean Shopify’s more than one million merchants can sell their products to viewers using video adverts with inbuilt technology that permits shopping, helping TikTok to increase the appeal of its business platform for small and medium-sized retailers.

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