RewardStream Solutions Inc (CVE:REW) has reached another milestone - receiving approval for its new referral marketing app on Shopify to tap into the buying on-line phenomenon.
Shares in the firm surged on the news last week
Shopify is an e-commerce platform which powers 400,000 online stores, giving the group access to these, and adding another sales channel, Rewardstream told investors.
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"We are very excited to launch our referral marketing app to the large and growing Shopify merchant base," said Rob Goehring, chief executive of Rewardstream.
"Shopify's growth has been unprecedented amongst e-commerce platform providers, and has the most active app ecosystem, with more than 80% of merchants relying on apps to extend the functionality of their store.
"With the e-commerce market forecasted to reach $523bn by 2020, we are positioning Rewardstream to lead the market as more shoppers buy on-line."
The app enables any Shopify merchant to instantly install the Rewardstream app without any IT (information technology) involvement or custom development.
Rewardstream's referral app tracks interactions, provides analytics, ensures the security of all reward transactions and helps prevent fraud.
The Rewardstream app works for the smallest store, up to the highest volume merchants.
Also recently, RewardStream Solutions Inc (CVE:REW) revealed it had added a record-breaking 55 new clients to its platform since the first quarter of its 2017 year.
The tech group said that represented just under $500,000 of annualized new revenue.
During the third quarter, it began to roll out its Magento and WooCommerce integrations and closed over 30 new programs for clients in a broad range of industries.