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Solana Pay integrates with Shopify to enable crypto payments

By Gloria Methri

August 24, 2023

  • Decentralized Payments
  • FinTech
  • P2P Payments
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Solana, Shopify, FinTech, Decentralized Payments, Web3, Blockchain, Cryptocurrency, P2P Payments, USADecentralized, open-source payments protocol Solana Pay has announced its integration with global commerce company Shopify. As a result of the integration, Solana Pay will now become available to millions of businesses.

Solana Pay makes it easy for merchants to get real-time access to their money and greater ability to manage working capital, liquidity, and liability protection.

With no intermediary, the payment platform eliminates bank fees, chargebacks, and holding times while enabling immediate, direct payment settlement of USD stablecoins compatible with Solana.

“Solana Pay on Shopify opens up millions of merchants to a more dynamic and efficient payment choice, while consumers get the convenience and increased utility of being able to purchase goods and services using digital dollar currencies from the vast network of merchants using Shopify,” said Josh Fried, Head of Commerce Business Development.

An extra benefit for merchants and consumers of using Solana Pay: is that payments become a gateway for web3-enabled commerce experiences, including token-gated offers, simple cross-border payments, and NFT-based loyalty programs.

Solana is an open-source protocol built on its decentralized network. Its high transaction speeds, near-zero fees, and sustainability make it an ideal choice for scaling Web3 payments while also providing a great user experience.

Several brands have already committed to making Solana Pay a payment option in their Shopify-powered storefronts, seeing the opportunity of providing a web3-native payment option for their web3-savvy customers: MonkeDAO, MadLads, Helius, and Solana’s merch store.

Solana is a blockchain built for mass adoption. It is a high-performance network that is utilized for a range of use cases, including finance, NFTs, payments, and gaming. Solana operates as a single global state machine and is open, interoperable, and decentralized.

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