How Solana's Shopify Plugin Expansion is Revolutionizing Crypto Payments

Solana Pay expands on Shopify, supports 100+ cryptocurrencies, and cuts transaction fees.

Sunday, June 16, 2024 12:52 PM UTC

Solana Pay Expands on Shopify, Supporting 100+ Cryptocurrencies and Reducing Fees for Merchants

In a recent report by Cointribune, the Solana Pay plugin for Shopify has recently expanded, marking a significant milestone in adopting cryptocurrency as a payment method. It currently supports more than 100 cryptocurrencies. This update, powered by Helio, is set to revolutionize the payment experience for millions of Shopify merchants worldwide.

Merchants can accept cryptocurrency payments with reduced fees by utilizing the Solana Pay plugin. This is accomplished while providing real-time conversion into stablecoins, including USDC, EURC, PYUSD, and USDY. The latter is a tokenized note secured by demand deposits and short-term U.S. Treasury bills.

This new version aims to facilitate the integration of millions of merchants into the crypto-commerce industry. Furthermore, it seeks to establish a new standard for e-commerce payments by integrating Web3 functionalities, enhancing customer loyalty programs, and improving the payment experience.

Stijn Paumen, the CEO and co-founder of Helio, stated that merchants can attract customers by integrating Solana Pay into their systems with “a few simple clicks.” “Enabling the largest e-commerce platform to accept crypto payments faster than card payments is a significant step towards the mass adoption of crypto payments.”

Solana Pay's Shopify Plugin Update Features Low Fees, On-Ramp Access, and Supports Hundreds of Cryptocurrencies

The Solana Pay plugin update brings several notable features and advantages. Notably, it implements a transaction fee of just 0.75%. These competitive fees are crucial to support ongoing innovation and operational costs, ensuring a cost-effective solution for users. Additionally, the plugin incorporates an on-ramp feature accessible through the Helio dashboard, allowing customers to fund their wallets with cryptocurrency in their preferred currency.

The expansion of the Solana Pay module for Shopify represents a significant milestone in the uptake of crypto payments in the e-commerce sector. Shopify merchants now have access to a flexible and innovative payment solution that supports hundreds of cryptocurrencies, establishing the foundation for a new era of decentralized financial transactions.

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