Crypto.com, a growing crypto platform, has announced that Shopify merchants will now be able to receive crypto payments from customers using Crypto.com Pay. The move gives Shopify users an expanded reach by offering customers more payment options.
Crypto.com said it shall waive the 0.5% settlement fee on all transactions that the Shopify users make for at least one month to welcome them on board. That 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
The Crypto.com pay will allow Shopify merchants to instantly receive cryptocurrency payments from the growing base of Crypto.com users at zero transaction cost.
The crypto.com Pay is an off-chain service that is accessible to Crypto.com App users around the world.
In addition to the zero transaction fees, Crypto.com also offers customers crypto-cashback pay rewards when they pay using the Cronos token (CRO), which is the native token of Crypto.com. Customers could get up to a 10% pay reward during the promotion period which will last for a month.
The integration of Shopify with Crypto.com Pay underscores the Crypto.com Pay app as a preferred cryptocurrency payment app for online merchants looking for crypto payment options.
Following the integration, the co-founder and CEO of Crypto.com, Kris Marszalek, said:
“Providing more customers and merchants the ability to engage in commerce using cryptocurrencies is a priority for Crypto.com. We are incredibly excited to integrate into Shopify, and to bring this capability to even more customers and merchants around the world.”
About Crypto.com Pay
Crypto.com Pay saves users 80% on transactions compared to the traditional payment processors. It does not charge any transaction fees other than the 0.5% settlement fee.
Secondly, users do not pay any setup costs and the integration with Shopify merchant stores only takes minutes.
When using Crypto.com Pay, customers can pay using more than 20 cryptocurrencies including BTC, ETH, CRO, DOGE, SHIB, and APE.
Commenting on the integration, the Lead of Blockchain Ecosystem at Shopify, John S. Lee, said:
“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. Our growing blockchain ecosystem demonstrates our commitment to supporting merchants with alternative payment methods on their storefronts, helping to further expand what’s possible in commerce.”
Since it was launched in 2018, Crypto.com Pay has been integrated on different platforms to benefit merchants. Some of the platforms that have so far integrated Crypto.com Pay include TIME Magazine, WooCommerce, Oveit, Coinzilla, and Ledger.
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