CoinPayments, a cryptocurrency payment solution provider, has announced that the company has entered into a strategic partnership with the e-commerce company Shopify. The collaboration aims to provide an alternative payment option for Shopify’s merchants and expand the adoption of cryptocurrencies.
Shopify is a multi-channel commerce platform for online stores across multiple sales channels, including web, social media, mobile, marketplaces, brick-and-mortar locations, and pop-up shops.
The announcement follows a successful beta trial that started in 2019. Under the terms of the partnership, CoinPayments’ crypto payments processing platform will be made available to all Shopify merchants as both companies look to fuel the adoption of payments in digital currencies. The integration is expected to improve e-commerce experiences for customers globally.
CoinPayments will be a visible payment option for merchants on the Shopify platform and will make cryptocurrency transactions more straight forward and accessible while reducing transaction fees. Vendors can receive payments in any of the 1,800 cryptocurrencies supported by CoinPayments and can access the untapped markets globally.
The collaboration further enables cross-border payments, allowing merchants to eliminate the hassle of working with multiple payment processors across different jurisdictions.
“The combination of Shopify and CoinPayments is unstoppable in the payments industry. By bringing our easy-to-use global crypto payments platform together with Shopify’s extensive merchant base, we look forward to delivering a seamless process for anyone looking to do business using cryptocurrencies. As leaders in e-commerce and crypto payments, our combined expertise reflects the future of business transactions,” said CoinPayments CEO Jason Butcher.
Further, as part of CoinPayments’ aggressive expansion strategy, The FinTech is planning to expand its partners and merchants in the near future. Recently Shopify partnered with dlocal to help SMBs with local payments methods.
Founded in 2013, CoinPayments is a digital currency payment solution allowing merchants to accept Bitcoin and over 1905 altcoins in their store through easy to use plugins, APIs and POS interfaces.