05-21-2020 icon

E-commerce: Shopify Adds Cryptocurrency Payment Option

By Sagetwriter
Shopify Bitcoin and Cryptocurrency Payments

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.

DID YOU KNOW? Nigeira’s premier Bitcoin Exchange – NairaEx has launched a gateway to allow businesses integrate Bitcoin payments on their online store. The new service called NairaEx Pay offers you speedy transactions and instant conversion to Naira. See details here.