E-commerce: Shopify Adds Cryptocurrency Payment Option
Canadian e-commerce giant Shopify has partnered with cryptocurrency payments processor - CoinPayments, to offer its users the option to pay with cryptocurrencies such as Bitcoin (BTC).
According to a press release, the globally recognized e-commerce platform will now integrate support for digital currency payments; meaning merchants on Shopify can now get paid in any of the 1800 cryptocurrencies supported by CoinPayments gateway.
Sources close to the deal note that the partnership is a result of successful beta trial run at Shopify in 2019.
The Shopify Help Center goes on to highlight benefits of the new crypto payments option, with a focus on minimizing transaction fees and offering merchants access to receive local and international payments instantly.
Bringing Crypto Adoption to a Booming Industry
With the growing statistics of the e-commerce and drop shipping industry, including those of top companies like Amazon; the introduction of digital currency payments by Shopify now brings crypto adoption to over 1,000,000 businesses in 175 countries serviced by the platform .
This number further extends to customers of these businesses who are now exposed to cryptocurrency in a real-time payment scenario.
As predictions of an e-commerce boom suggest, its fusion with emerging cryptocurreny payments offers both industries a marketing, educational, and adoption benefit.
Commenting on the partnership, CoinPayments CEO - Jason Butcher remarked:
“The combination of Shopify and CoinPayments is unstoppable in the payments industry.
By bringing our easy-to-use global crypto payments platform together with Shopify’s extensive merchant base, we look forward to delivering a seamless process for anyone looking to do business using cryptocurrencies. As leaders in e-commerce and crypto payments, our combined expertise reflects the future of business transactions.“
Bitcoin.NG had reported that Shopify joined the Facebook Libra Coin Association in February 2020; as the company continues to indicate interest in cryptocurrency projects.
In all, this is a welcome development for the cryptocurrency community, in the drive towards slow but steady adoption.
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