Crypto.com, a rapidly growing cryptocurrency platform, announced that Shopify merchants can now accept crypto payments from customers using Crypto.com Pay. This move expands Shopify sellers’ reach by offering shoppers more payment options.
To welcome Shopify merchants onboard, Crypto.com said it will waive the 0.5% settlement fee on all transactions made by Shopify users for at least one month. That means Shopify merchants using Crypto.com Pay will enjoy a 0% settlement fee on all crypto transactions for a minimum of one month.
Crypto Payments on Shopify
Crypto.com Pay enables Shopify merchants to accept cryptocurrency payments instantly from Crypto.com’s growing user base with no transaction fees.
Crypto.com Pay is an off-chain service available to Crypto.com app users worldwide.
In addition to zero transaction fees, Crypto.com offers customers crypto cashback rewards when they pay using the Cronos (CRO) token, Crypto.com’s native token. During the promotional period, customers can earn up to 10% back in rewards.
The Shopify integration positions Crypto.com Pay as a preferred crypto payment option for online merchants seeking cryptocurrency payment solutions.
Following the integration, Crypto.com co-founder and CEO Kris Marszalek said:
“Providing more customers and merchants the option to engage in commerce using cryptocurrencies is a priority for Crypto.com. We are incredibly excited to integrate with Shopify and bring this functionality to even more customers and merchants around the world.”
About Crypto.com Pay
Crypto.com Pay reduces transaction costs by up to 80% compared to traditional payment processors. It charges no transaction fees apart from a 0.5% settlement fee.
There are no setup costs, and integration with Shopify stores takes only minutes.
With Crypto.com Pay, customers can pay using more than 20 cryptocurrencies, including BTC, ETH, CRO, DOGE, SHIB, and APE.
John S. Lee, Head of Blockchain Ecosystem at Shopify, commented on the integration:
“We are pleased to welcome Crypto.com to help Shopify merchants provide another 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 in their stores, further expanding what’s possible in commerce.”
Since its launch in 2018, Crypto.com Pay has been integrated into a variety of platforms to benefit merchants. Some platforms that have already integrated Crypto.com Pay include TIME Magazine, WooCommerce, Oveit, Coinzilla, and Ledger.