Shopify merchants can now accept more cryptocurrencies as a means of payment as the commerce platform has added support for Crypto.com Pay. The company said in a blog post that Crypto.com will charge a 0.5% settlement fee on all transactions for one month after integrating.
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To boost the adoption, Crypto.com said it will incentivize businesses to use Crypto.com Pay with crypto-cashback with the Cronos token (CRO), which can be "up to 10% during the promotion periods." John S. Lee, Lead of Blockchain Ecosystem at Shopify:
"Our growing blockchain ecosystem demonstrates our commitment to supporting merchants with alternative payment methods on their storefronts, helping to further expand what’s possible in commerce."
With the upgrade, Shopify merchants could accept over 20 tokens, including bitcoin (EXANTE: Bitcoin), ether (ETH), CRO, shiba inu (SHIB), dogecoin (DOGE) and even apecoin (APE). Shopify first added support for cryptocurrencies back in May 2020. Shopify then signed a partnership agreement with CoinPayments, a cryptocurrency payments processor, to accept digital coins as a payment method.
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