Social media platform TikTok and digital payments titan Square recently announced a new partnership that is likely to make waves in an already tumultuous marketplace. With their new integration Square x TikTok, users of the social networking platform will be able to sell products to viewers through the integrated Square Online store at no initial cost.
Though the full launch date for this new sales partnership has not been made public, the platform is expected to generate a considerable boost to online merchants—particularly those who already run ad campaigns on TikTok’s Ad Manager program. In preparation for the global launch of Square x TikTok, users of the social media platform with a TikTok for Business account can build their Square Online store and begin selling immediately. Other early access options are expected to be made available in anticipation of the platform’s full kickoff.
Square’s eCommerce head David Rusenko projected that the launch of Square x TikTok will lead to a significant boost to online retailers, elaborating that Square is “looking forward to helping our sellers tap into a valuable, rapidly expanding new customer base on TikTok.” Considering TikTok boasts monthly users in excess of one billion, Rusenko’s optimistic claim may turn out to be an understatement.