The eCommerce platform Shopify entered a partnership with Crypto.com Pay. Thanks to this move, users can have more ways to put their cryptocurrency holdings to use. Crypto.com will offer to waive the settlement fee of 0.5% and a cashback offer of up to 10% for one month to mark this event.
Crypto.com is one of the noisiest blockchains in the crypto ecosystem regarding growth and development. Launched as Monaco in 2016, the platform returned to the paths of growth after its rebranding into Crypto.com. Now, the platform serves more than 50 million users, with nearly 5,000 employees working worldwide.
The vision of bringing cryptocurrency payment to everyone has pushed the network to have helped it bring some revolutionary products to the market. Crypto.com Pay is one such product from the platform intended to accelerate the adoption of cryptocurrencies worldwide in every business possible.
Crypto.com Pay continues the vision of this cryptocurrency platform through a new deal signed with Shopify. Based in Canada, this eCommerce platform will allow independent merchants to start, manage and build their business online. The platform also allows sales in physical locations through its POS app.
As per the terms, Shopify will now offer its merchants Crypto.com Pay as a payment method. The transactions will be processed instantly through the international exchange platform. Moreover, these crypto transactions will be processed for absolutely zero transaction fees. The cutting-edge features of this payment mode will help access the data in real-time from anywhere in the world.
Along with the zero transaction fees, the payment process will pause the 0.5% settlement fees a month. Moreover, there is a 10% cashback when users prefer to check out with the Cronos Token (CRO) on Shopify. These offers will remain active only during the promotion period.
With 0% transaction fees and 0.5% settlement fees, the fee structure of Crypto.com is 80% more efficient than other processors when compared. And What is more, users of Crypto.com Pay can access more than 20 cryptocurrencies, including BTC, ETH, CRO, SHIB, DOGE, and APE.
From the merchant’s point of view, Crypto.com Pay carries no setup costs and can complete the integration in minutes. The payment processor has already worked with renowned firms like TIME Magazine, Ledger, Coinzilla, WooCommerce, and Oveit.
John S.Lee, Lead of Blockchain Ecosystem at Shopify, said that Crypto.com Pay would provide a fast and convenient alternative payment option for users while demonstrating their continued commitment to the merchants. Co-founder Kris Marszalek from Crypto.com believes that this integration will prioritize cryptocurrency payment by offering more merchants and customers the ability to pay with it.
