NewsletterHow Much Can Shopify Users Save Per Order With Solana Pay?
E-commerce giant Shopify untapped the potential of crypto market in payments with the latest announcement on the integration of Solana Pay for Solana-compatible USD stablecoins like the USDC, offered by Circle. Considering the massive share of e-commerce market the platform controls, this could likely be the beginning of a massive shift towards crypto payments.
Also Read: Terra Luna Classic Validator To Fund USTC Repeg Team As Community Rejects Proposal
What Is Solana Pay?
Solana Pay is a decentralized payments protocol built by Solana Labs. With this, millions of businesses will have it as an approved app integration on Shopify. The app is built for instant transactions and near-zero gas fees. This partnership enables real time payments through blockchain without any costs for millions of merchants. With the blockchain based payments, the merchants would have the advantage of having ability to handle token based rewards and seamless across countries.
How Much Cost Will Shopify Users Save
Patrick Hansen, the Director of European Union’s Strategy and Policy at Circle, said users would be able to save a great deal in average cost per transaction if done using Solana Pay and USDC. He revealed that the USDC transactions would cost a meagre $0.00025 per order, as against the 1.5-2.5% in credit card fees per order. This could be a massive improvement in terms of cost cutting for the e-commerce platform, which controls about 10% of the total online shopping activity in the United States.
The e-commerce platform is one of the bigger names to have jumped into the crypto bandwagon in recent times. On the institutional front, financial companies like Blackrock and Fidelity have shown interest in offering Bitcoin based products via spot ETF filings with the U.S. Securities and Exchange Commission (SEC).
Also Read: Ethereum’s Bollinger Bandwidth the Narrowest Since 2018, Where Will ETH Price Swing?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Tom Lee’s Fundstrat Warns Clients Bitcoin Could Fall to $60,000 Despite His ATH Public Forecast
- 125 Crypto Firms Mount Unified Defense as Banks Push to Block Stablecoin Rewards
- BlackRock Bitcoin ETF Ranks Among Top ETFs In 2025 Despite Crypto Downturn
- Stablecoin Adoption Deepens as Klarna Turns to Coinbase for Institutional Liquidity
- Ripple, Circle Could Gain Fed Access as Board Seeks Feedback on ‘Skinny Master Account’
- Will Solana Price Hit $150 as Mangocueticals Partners With Cube Group on $100M SOL Treasury?
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
- Bitcoin Price Alarming Pattern Points to a Dip to $80k as $2.7b Options Expires Today
- Dogecoin Price Prediction Points to $0.20 Rebound as Coinbase Launches Regulated DOGE Futures
- Pi Coin Price Prediction as Expert Warns Bitcoin May Hit $70k After BoJ Rate Hike
- Cardano Price Outlook: Will the NIGHT Token Demand Surge Trigger a Rebound?
