CoinPayments’ integration for Shopify provides merchants with an alternative payment option. Our platform allows merchants using Shopify to accept cryptocurrency payments among other alternative payment methods like fiat currencies in exchange for their goods and services.
Shopify is a multi-channel commerce platform with a global reach of online stores across multiple sales channels, including web, mobile, social media, marketplaces, brick-and-mortar locations, and pop-up shops. With CoinPayments’ leadership in crypto payment processing globally, the integration for Shopify will strive to improve eCommerce experiences for customers around the world.
The questions surrounding cryptocurrencies have always been the same. What is crypto? How is it an asset to me personally or to a business? How do I start accepting or using crypto?
While some questions are harder to answer than others, there are some questions that can be answered on this page. To begin, crypto has the benefit of blockchain technology. This allows online business owners to have certainty that there won’t be any chargebacks and that all transactions are secure.
Another common question is what benefit it serves to use cryptocurrency in online business. First of all, there is a serious rise in the usage of crypto to purchase everyday items. By allowing consumers to maximize payment options, a merchant can open up worlds of new clients and business opportunities because of the currency’s popularity. And with CoinPayments your transaction fees are only 0.5%.
Enable the digital asset payment processor CoinPayments on your Shopify store to start accepting Bitcoin and many other cryptocurrencies by following the simple steps in the tutorial video here.
Alternatively, here is a brief step-by-step tutorial of how easy it is to integrate CoinPayments into your Shopify Store!
CoinPayments should now be set up as an alternative payment method in your Shopify store. You can start accepting Bitcoin and over 100 other cryptocurrencies and Stablecoins, including Litecoin, USD Coin, Bitcoin Cash (BTC), and Ethereum (ETH)!
Shopify is already an easy access point for merchants getting their start, but the beauty of integrating with the CoinPayments cryptocurrency payment processor is an extension of that ease into a specific market: cryptocurrency. Here are a few reasons to get excited:
Cryptocurrency is a digital currency that can be used to buy goods and services. It’s very convenient for online transactions as it has the following benefits: : the increased accessibility for small merchants and the ease of transactions for customers.
Firstly, crypto allows for a more accessible and global market to emerge from all corners of the globe. The main goal of crypto is to replace centralized economic powers with a decentralized economic model, allowing for more diversity and previously underprivileged voices to be heard.
By integrating CoinPayments into your Shopify store, you will open the doors to these voices and allow them to partake in a global crypto market that they have previously been shut out of. In addition, merchants will tap into new customer bases to allow the expansion of their brand.
Secondly, because there are no exchange fees between coins traveling from one part of the globe to the other, it takes money previously skimmed by middlemen. It puts it back into the pockets of the people involved in the transaction. This means for both merchants and consumers. It creates a more fair and affordable option for the exchange of goods and services.
In particular, merchants should be keen to grab hold of the chance to keep fewer hands between them and the consumer, as it makes the already thin margins even tighter. But with crypto, there is a great deal more control of their business.
The decrease in middleman fees motivates merchants to integrate CoinPayment into their Shopify Store, but the ease and speed of this service create a great all-around option for payment on their eCommerce platform. In addition, it takes the pressure off of consumers, as there is no longer any need for typing in credit card information or waiting for payment processors to get confirmation on larger purchases.
This ease is amplified for consumers purchasing goods and services overseas. With traditional centralized banks and economic institutions, trading across national borders through eCommerce requires gateways and processors to convert the currencies for one another. With cryptocurrencies, there is no need for conversion. This will save time and headaches for consumers and merchants alike, so they can get to what they want to do: trade.
Crypto isn’t just a trend, and it’s time to permit yourself to add a crypto payment gateway on your Shopify, Magento, Prestashop, Woocommerce, or any other store. Given all the reasons for integration and the ease of integration for merchants already using Shopify for their eCommerce needs, this seems like a no-brainer. CoinPayments has already built-out tools and services to help with this integration on their side of the equation.
Cryptocurrency can be disorienting and difficult to understand at first: CoinPayments makes it easy with helpful articles and tools to help merchants navigate through any crypto challenge. Shopify makes it easy for merchants to connect with their customers, so integrating CoinPayments will continue to connect the major companies, the small merchants, and even more customers who want to use their favorite or most accessible cryptocurrency in their digital wallets.
Sources:
Daily Bitcoin transactions 2017-2021 | Statista
Banks benefit from ecommerce boom as credit card usage increases | EconomicTimes.IndiaTimes.com
