Crypto.com, a growing crypto platform, announced that Shopify merchants will now be able to receive crypto payments from customers using Crypto.com Pay. The move expands the reach of Shopify users by offering customers more payment options.
Crypto.com said it would waive the 0.5% settlement fee for all transactions made by Shopify users for at least one month in a bid to welcome them. This means that Shopify merchants using Crypto.com pay will enjoy a 0% settlement fee on all crypto transactions for at least one month.
Crypto Payments on Shopify
Crypto.com Payments will allow Shopify merchants to instantly receive cryptocurrency payments from the growing Crypto.com user base with zero transaction costs.
crypto.com Pay is an off-chain service available to Crypto.com app users worldwide.
In addition to zero transaction fees, Crypto.com offers crypto cashback rewards to customers who pay with Crypto.com’s native token, Cronos Token (CRO). During the month-long promotion, customers can earn up to 10% salary bonus.
Shopify’s integration with Crypto.com Pay highlights the Crypto.com Pay app as the preferred cryptocurrency payment app for online merchants looking for cryptocurrency payment options.
After the integration, Crypto.com co-founder and CEO Kris Marszalek said:
“Providing more customers and merchants the ability to do commerce with cryptocurrencies is a top priority for Crypto.com. We are very excited to integrate Shopify and bring this capability to more customers and merchants around the world.”
About Crypto.com Payments
Crypto.com Pay saves users 80% in transaction fees compared to traditional payment processors. It charges no transaction fees other than a 0.5% settlement fee.
Second, users don’t have to pay any setup costs, and integration with a Shopify merchant store only takes a few minutes.
When using Crypto.com Pay, customers can pay with more than 20 cryptocurrencies including BTC, ETH, CRO, DOGE, SHIB and APE.
Commenting on the integration, John S. Lee, head of the blockchain ecosystem at Shopify, said:
“We are excited to welcome Crypto.com to helping Shopify merchants provide customers with a fast and convenient way to pay for online orders. Our growing blockchain ecosystem demonstrates our commitment to enabling merchants to use alternative payment methods on their storefronts, helping to further expand commerce possibilities in the field.”
Since its launch in 2018, Crypto.com Pay has been integrated on different platforms to benefit merchants. Some of the platforms that have integrated Crypto.com Pay to date include TIME Magazine, WooCommerce, Oveit, Coinzilla, and Ledger.