- Solana announced a new partnership with Shopify. It will allow users to make quick and easy payments.
- Furthermore, users will save money using this payment option. USDC transactions would cost a meager $0.00025 per order.
Crypto is consistently going to new heights. One of the things that leads to more crypto adoption is when the outer world starts using some of the inventions from the industry. Apparently, this is what Solana Pay stands for after their partnership with Shopify.
What is Solana Pay?
- Solana Pay is a new crypto payment project that aims to ease the difficulty of making crypto payments. This payment platform is an open, free-to-use payment framework built on Solana. Apparently, the crypto company created this platform so millions of businesses can have it easy with making payments.
- According to Solana, their payment project is built for instant transactions and near-zero gas fees. Furthermore, Solana processes up to 60,000 transactions per second. Moreover, this is unlike centralized payment systems, where one has to use intermediaries. It is quite direct, and it recently announced its integration with Shopify.
USDC Gets a New Use Case as Solana Pay Announces Integration with Shopify
- The crypto community received the news with elation after Solana announced their latest integration with Shopify. Apparently, this move is a huge win for the crypto industry, as it further advances the adoption.
- Furthermore, this new move means the integration of a stablecoin named USDC. Circle and Coinbase are the structures behind the creation and issuance of USDC. The Solana Pay partnership with Shopify will happen through USDC on the platform. Nevertheless, other stablecoins, such as the USDT, can also feature in the long run.
- This move is quite massive for all the parties involved. On the one hand, Solana gets the chance to expand their growth and the crypto industry to millions of users. On the other hand, Shopify gets to integrate crypto enthusiasts as part of their target market. So, It is a win-win situation.
How This Partnership Can Help You Save Money
- Apparently, one of the perks of this latest Solana Pay partnership with Shopify is how it reduces transaction fees for users. So, Patrick Hansen, the Director of the European Union’s Strategy and Policy at Circle, explained this.
- According to him, users can save money using Solana Pay for their Shopify purchases. Moreover, this new payment option is miles better than using credit cards.
- Assuming a user is using a credit/debit card for payment, they would have to pay 1.5-2.5% fees. But for this new payment option, the fees one pays are nearly zero. So, the Circle executive said USDC transactions would cost a meager $0.00025 per order.
Conclusion
The new integration of Solana Pay to the Shopify ecosystem is a huge win for the crypto industry. This new payment method will allow users to make payments using stablecoins like the USDC. Apparently, this is quite huge, as the crypto industry will get huge publicity worldwide.
