Exchange Crypto.com has announced that Shopify merchants will now have access to cryptocurrency payments. According to the exchange, they will be able to enable Crypto.com Pay, a service that allows payment in this mode.
For this, merchants only need to include the system in their online storefronts. In this way, stores will be able to expand their reach, offering one more option to customers. This option allows quick purchases and with less fees anywhere in the world.
Crypto.com Pay allows merchants to instantly receive cryptocurrencies from a growing global user base. The service will not have any transaction fees, but you must have an exchange account to use it.
Ease and refunds
Crypto.com Pay is available to all Crypto.com app users worldwide. With this, merchants will be able to receive their purchases directly from their smartphone. No need to hire any services or install any point of sale (PoS).
To provide more commercial incentives for Crypto.com Pay merchants, Crypto.com offers customers cryptocurrency cashback rewards when they checkout with Cronos Token (CRO), which can be up to 10% during periods of promotion.
“Providing more customers and merchants with the ability to trade using cryptocurrencies is a priority for Crypto.com and we are incredibly excited to integrate Shopify and bring this feature to even more customers around the world,” says Kris Marszalek, co-founder and CEO. from Crypto.com.
Crypto.com Pay features zero transaction fees and only 0.5% settlement fees – an 80% savings in fees when compared to typical payment processors. Merchants don’t have to pay any setup costs and the integration takes just a few minutes.
Through Crypto.com Pay, customers can pay with over 20 tokens, including BTC, ETH, CRO, SHIB, DOGE, and APE.
For Shopify’s Blockchain ecosystem leader John S. Lee, providing yet another fast and convenient way to pay demonstrates the company’s commitment to supporting merchants.
“We are happy to welcome Crypto.com to help Shopify merchants provide more of this option for customers to pay online, helping to further expand what is possible in commerce,” said Lee.
Since its launch in 2018, Crypto.com Pay has helped merchants like TIME Magazine, Ledger and Coinzilla, as well as platforms like WooCommerce and Oveit, tap into the global cryptocurrency economy and accept cryptocurrencies on their websites.
Most e-commerces in the world operate through Shopify, a platform that is already open to cryptocurrencies. As CriptoFácil reported, the exchange partnered with payments company Strike in April, offering BTC payments to 30% of e-commerce sites in the United States.
These payments, in turn, are executed through the Lightning Network (LN). That is, transactions with BTC will be faster and with much cheaper fees.
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