The payment protocol, built on the Solana blockchain, has been integrated into Shopify.
With the integration, users will be able to connect Solana-centric crypto wallets, like Phantom or Slope, and settle payments on-chain with merchants using USDC.
While USDC, one of the most popular dollar-linked stablecoins, is the first payment option to be enabled via the integration, other crypto assets will follow in the future, a representative of the Solana Foundation told CoinDesk. "When thinking about this integration, we chose a stablecoin because merchants and consumers"think in dollars,” Josh Fried, head of commerce business development at the Solana Foundation told CoinDesk. ”It creates a much simpler entry point when pricing is in a currency consumers and merchants naturally understand.”
When paying with USDC, transactions will be settled almost instantly as opposed to most credit card payments which can take several days to clear, Fried said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Solana Pay integrates with Shopify for digital dollar currency paymentsSolana's premiere payment tool Solana Pay has integrated with one of the largest e-commerce platforms, Shopify.
Read more »
Shopify to accept USDC payments with Solana: ReportShopify has added Solana Pay to its pool of payment solutions, allowing merchants to use the platform to accept USDC transactions.
Read more »
What to do when your customers don’t pay on timeAccording to a recent study, a whopping 93% of businesses experience late payments from customers. Expert Gene Marks suggests tips to manage invoices and expectations.
Read more »
Restaurants in ritzy French resort town caught 'wealth screening' customers for 'big spenders'Restaurants would review previous spending and insist that customers pay around $5,400 for a table, in addition to trying to force customers to pay double the usual tip.
Read more »
Pay for new hires is dwindling, workers being pressured to take pay cutsData compiled by ZipRecruiter showed that 35% of US workers who started a new job in the second quarter took a pay cut. And of 2,000 employers, nearly half said they’re lowering salaries for …
Read more »
Solana (SOL) Will Not See New Low in 2023, Believes Analyst: But Will It Really?Analyst has bullish outlook for Solana, but situation on chart is questionable
Read more »