Shopify merchants can now start accepting cryptocurrency
Digital currency continues to find its rightful place alongside fiat as an alternative form of payment
The Canadian e-commerce giant Shopify has taken a huge step forward in the service it offers to customers. As of now, Shopify customers can use digital currencies to pay to merchants due to a new partnership with a cryptocurrency payment processor. CoinPayments came to bolster the compatibility of cryptocurrency on the huge e-commerce platform. “Shopify is a natural fit for us,” CoinPayments CEO Jason Butcher told Cointelegraph in an email, “As they look to bring new features to their merchant base and CoinPayments works to drive cryptocurrency adoption globally, it makes sense to create an integration that enables easy, secure, and cost-effective transactions.”
With the integration of this payment platform, sellers using the service can harness their sales; the platform is capable of accepting 1,800 different cryptocurrencies as payment, according to a statement issued yesterday. “CoinPayments is the largest cryptocurrency payments processor on the Shopify platform with the most extensive global reach,” said Butcher. This is not the first approach Shopify has had to the crypto world, Coinbase Commerce, BitPay and GoCoin were also integrated prior to CoinPayments.
The partnership between these two firms came after a testing period began in 2019 between the two platforms to make sure there was no compatibility issues. “The beta trial process involved a full functionality and security test with live merchant interactions before becoming publicly available to the entire Shopify platform,” added Butcher.
Shopify’s new partnership is also paving the way for other mainstream platforms to come up with other ideas of integrating digital currencies into other platforms. For instance, Aeternity, one of the blockchain industry’s outfits, just opened an option to tip social media influencers with digital assets.