Solana Pay Integrates With Shopify for Instant Payments With USD Stablecoins – The Daily Hodl

Solana Pay will be integrating with Shopify, one of the world’s biggest e-commerce platforms in the world for a new payment function.

The Solana Foundation, creators of Solana Pay, says in an announcement that the protocol will now be included as a payment option on Shopify.

Solana’s X page says,

“Payments should be accessible, fast, and frictionless: With no intermediary, Solana Pay eliminates bank fees, chargebacks, and holding times while enabling immediate, direct payment settlement of USD stablecoins compatible with Solana.

Shopify payments can now become a gateway for web3-enabled commerce experiences, enabling merchants and consumers who use Solana Pay to unlock:

Token-gated offers
Simple cross-border payments
NFT-based loyalty programs

And more, depending on your business goals.”

Speaking to TechCrunch, Josh Fried, business development and partnerships at Solana Foundation said that Circle’s USDC will be the first stablecoin available for the new integration.

Says Fried,

“Some people argue the killer app for crypto hasn’t arrived, but it has: it’s payments… [Everyone] should be doubling down on this.”

According to Fried, Solana Labs believes the Solana blockchain is “perfectly suited for payments,” given that there are “no intermediaries, bank fees, chargebacks and holding times.”

“You need speed at the point of sale for merchant payments. No one wants to sit on a website to wait for wallet transactions. Similarly in a point of sale in a store, can you imagine waiting three minutes for your payment to go through? No one wants to do that.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Rattanamanee Patpong/WhiteBarbie

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• Source: https://dailyhodl.com/2023/08/23/solana-pay-integrates-with-shopify-for-instant-payments-with-usd-stablecoins/