Shopify, a well-known e-commerce software solutions company, gets closer to crypto adoption by announcing a partnership with Alchemy Pay to enable crypto payments for its vendors and partners. The firm provides e-commerce solutions to leading businesses worldwide, mainly in the US, UK, and Asia. The support for crypto payments makes it possible for thousands of partners to use several cryptocurrencies within their accepted payment types.
Crypto and Mainstream Retail Inching Closer
Adoption of crypto by the e-commerce solutions giant showcases that the gap between the digital assets and mainstream businesses is getting narrower by the day. Shopify is one of the most substantial e-commerce platform providers with a massive footprint in the US and other regions. While the Covid-19 pandemic affected almost all the firms irrespective of their size and reach, Shopify’s stakes remained undeterred thanks to its market cap of 130 billion USD.
Retailers Can Accept Payments in Crypto Tokens Now
The new alliance between Alchemy Pay and Shopify opens the doors for the crypto assets to be used as seamlessly as the regular payment methods allowing millions of users to pay with their tokens. The support is currently rolled out for primary tokens like Ethereum, Gemini Dollar, Bitcoin Cash, Bitcoin, and Tether, to name a few.
Shopify Already Opened Arms for Bitcoin
About a week ago, BTCPay announced Shopify’s support, which allows the retailers to transact in Bitcoin. In a blog, the company said they addressed a strange feature request from a user for Shopify integration a few years ago. And in their latest versionv22.214.171.124, Shopify retailers can now take Bitcoin payments.
Shopify is expanding its support for Bitcoin. Recently it announced plans to include the BTC payment option for sellers. Further, Shopify has also associated with other companies like BIPS, Bitcredits to offer BItcoin support to its merchants for payment processing.
Free of Charge Transactions
Shopify ecommerce would encourage the retailers to adopt the crypto payments by allowing the hybrid payment system to be free of charge for the blockchain transactions. There would not be any fee levied as of now, and the company said that it would be collected with ACH coins whenever it decides to charge the fee.