Solana Pay Integrates with Shopify as New Payment Option

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The Canadian e-commerce giant Shopify has just announced its integration with the Solana Pay payment solution of the sixth largest blockchain on Solana.

With Solana Pay, millions of Shopify merchants can accept crypto payments. Stablecoin USDC will be the first payment option adopted. Next, you can add SOL, BONK, and many other tokens according to the Solana SPL standard.

Josh Fried, the Commercial Business Development Manager at Solana Foundation, emphasized the significance of this integration in a statement:

Solana Pay on Shopify offers millions of merchants a more dynamic and efficient payment option, while consumers get the convenience and increased benefit of being able to pay for goods and services with digital dollar currencies from the vast network of merchants using Shopify

With Solana Pay, buying/selling transactions will be done instantly. Credit card fees often cost businesses from 1.5% – 3.5% per transaction, with Solana Pay, all operations are almost “free”.

In conclusion, the integration of Solana Pay with Shopify marks a pivotal moment in the evolution of e-commerce and the broader adoption of cryptocurrencies. By providing a more versatile and cost-effective payment option, Shopify is set to empower its merchants while giving consumers greater choice and convenience. As the e-commerce landscape continues to evolve, partnerships like this are driving the transformation of digital transactions, paving the way for a more inclusive and dynamic financial future.

Solana Labs launched Solana Pay in February 2022, with the goal of popularizing and promoting cryptocurrency payments in consumption. Addressing the typical backlog of traditional solutions, Solana Pay supports bill payments in SOL, stablecoin USDC, and many other SPL-compliant tokens.
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