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September 23, 2020
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Shopify introduces payments in cryptocurrencies – Blocksats

Shopify is a popular Canadian e-commerce platform that allows you to easily create your own online store. On Wednesday, the company entered into cooperation with the CoinPayments cryptocurrency payment processor. This is not the first time Shopify will use it crypto technologies. In February, we learned that the platfroma would join the Libra association, and in January it began using technology blockchain to eliminate counterfeit products from their stores.

Shopify’s cooperation with CoinPayments will speed up the adoption of cryptocurrencies

After conducting successful beta testing last year, Shopify announced a partnership with CoinPayments.

Customers who want to pay in cryptocurrencies will now be able to use the CoinPayments processor option in the stores of all sellers available on the platform. They will have a choice of over 1,800 different cryptocurrencies integrated with the payment processor.

Sellers, on the other hand, will receive faster payments and easily carry out cross-border transactions without the need for another processor or bank.

Will cryptocurrency payments become normal?

The CoinPayments platform is easy to install and use. Through collaboration with Shopify, the company hopes to expand its global operations and accelerate the adoption of cryptocurrencies around the world, said President Jason Butcher in a press release.

Referring to the beta tests that began in 2019, Butcher said they included thorough checking of performance, interoperability and compliance with all Shopify customers. He also added that the company thoroughly checked all security measures to make sure that there were no errors in the system that could allow data leakage.

According CEO CoinPayments cooperation brings mutual benefits:

“By combining our easy-to-use global cryptocurrency payment platform with the extensive Shopify trading base, we hope to provide a trouble-free process to anyone who wants to run a business using cryptocurrency. As leaders in e-commerce and cryptocurrency payments, our cooperation reflects the future of business transactions. “

A revolution in the payment industry

In the meantime, other e-commerce companies entered their cryptocurrency market with their products. For example, Crypterium created the first cryptocurrency payment card available worldwide, and crypto.com made possible giving invoices for payments in cryptocurrencies. The payment industry is currently undergoing an unprecedented revolution.

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