Cryptocurrencies

Crypto.com Pay Integrates Shopify, With Incentives for Merchants

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Written By: Michael Abadha

May 17, 2022, 17:35 BST 17:35

Summary:

Crypto.com’s payment service has integrated Shopify. We tell you about this and what it means to merchants.

The cryptocurrency trading platform, Crypto.com has announced that Shopify merchants can now enable the Crypto.com Pay payment option. There are no setup fees for businesses, and the integration process just takes a few minutes. Customers also have the option of paying using more than 20 different tokens, such as CRO, ETH, BTC, DOGE, APE, and SHIB, among others. For the first month after integrating, Crypto.com Pay will waive the 0.5 percent settlement fee for all transactions. Stores using Shopify and Crypto.com Pay have until June 30th, 2022, to take advantage of the offer.

Win-win for Crypto.com Pay merchants and clients

The integration with Shopify is meant to promote Crypto.com Pay as the premier cryptocurrency payment tool for online merchants that accept cryptocurrencies. When paying using the Cronos token (CRO), Crypto.com provides clients a Pay Rewards bonus of up to 10% in crypto-cashback. Even better, there are no transaction fees and only a 0.5% settlement cost with Crypto.com Pay. When compared to normal payment processors, this implies a savings of 80%.

“We’re happy to welcome Crypto.com to help Shopify merchants provide an additional fast and convenient way for customers to pay for their online orders,” said John S. Lee, Lead of Blockchain Ecosystem at Shopify.

Merchants can accept cryptocurrency payments from a growing worldwide community of Crypto.com users via Crypto.com Pay. Transactions take place outside of the blockchain and in real time. In addition, it is available to all users of the Crypto.com App worldwide. More than 5,000 people Crypto.com’s offices in the Americas, Europe, and Asia, serving more over 50 million consumers. Some of its prominent institutional clients include TIME Magazine, WooCommerce, Ledger, Oveit and Coinzilla.

With its aggressive expansion strategy, the company has forged strategic collaborations with some of the world’s most respected brands. Formula One, Twitch Rivals, UFC and NBA’s Philadelphia 76ers are some of the big brands that have onboarded the Crypto.com bandwagon.

This post was last modified on %s = human-readable time difference 17:35

Written By: Michael Abadha

Michael is a self-taught financial markets analyst, who specializes in analysis of equities, forex and crypto markets. He draws his inspiration from the fact that markets provide an interface through which the world interacts in search of a better tomorrow.