Instagram launches shopping checkout, charging sellers a fee

Instagram is opening a whole new revenue stream. Now the 130 million people who tap Instagram’s product tags on shopping posts will be able to buy those items without leaving the app, thanks to stored payment info. “Checkout with Instagram” launches today in the U.S. with more than 20 top brands, including Adidas, Kylie Cosmetics and Warby Parker, which will no longer have to direct customers to their websites to make a purchase. An Instagram spokesperson confirms to TechCrunch, “We will introduce a selling fee to help fund programs and products that help make checkout possible, as well as offset transaction-related expenses.” When we asked how much the “selling fee” would charge merchants, the spokesperson told us, “We aren’t sharing …