Shopify representative Brian Alkerton posted the following on the company’s user forum: “Just a quick update on this: our BitPay integration is feature-complete and can be added to your store now. Shopify has partnered with leading international payment providers to support your sales efforts. Your customers can pay in their local currency using their preferred payment method. Try Shopify for free, and explore all the tools and services you need to start, run, and grow your business. How To Put Bitpay Into Shopify Store. March 6, 2021 by test. There are basically four main reasons why Shopify continues to be this strong. The long term, long-term fiscal principles behind Shopify are strong. Near-term growth factors that have fueled the Shopify momentum are favorable. While customer behaviour normalization and financial.
With so many people using cryptocurrencies like Bitcoin, businesses should consider accepting crypto payments from customers. Here’s how they can do so.
During the past few years, cryptocurrencies have exploded in popularity, with assets such as Bitcoin, Ethereum, Polkadot and Litecoin all growing sizably. Bitcoin’s total market cap, for example, surpassed $1 trillion in February 2021.
As such, it should be no surprise that many of the world’s largest companies have begun accepting cryptocurrencies as payment for goods and services. Companies as varied as AT&T, the Dallas Mavericks, Microsoft, Overstock, Tesla and Twitch all accept Bitcoin and other digital currencies in 2021.
Small businesses can also take advantage of the crypto craze, and they can easily accept digital payments with the help of online payment processors. These processors typically offer a 1% or less transaction fee, which is less than the fees you’ll pay on most credit cards.
Here are six companies that can help you accept Bitcoin and other cryptocurrency payments.
One of the largest companies in the world enabling businesses to accept cryptocurrencies as payment is Atlanta-based BitPay. The company offers various tools to make accepting crypto payments simple, including hosted checkout, payment buttons, invoicing and Quickbooks and Shopify integrations. Payments can be made by customers online, by email and in person. Another neat feature offered from BitPay is that it protects businesses from crypto price fluctuations. The company only charges a 1% transaction fee on almost all transactions and allows clients to settle up in local currency cryptocurrency.
Silicon Valley-based CoinBase might best be known as one of the top marketplaces for buying and selling Bitcoin and other cryptocurrencies. Still, it also has a Commerce product that makes it easier for businesses to accept digital payments. The company has the essential tools every company that wants to accept crypto payments needs, including hosted checkout pages, payment buttons, invoicing and e-commerce integrations such as Shopify and WooCommerce. However, unlike similar services, CoinBase Commerce encourages companies to “be your own bank,” and the platform gives the company granular control of assets.
PayPal, one of the largest online payments companies globally, recently announced that consumers would be able to pay merchants in the PayPal network with cryptocurrencies.
One of the longest-running services for cryptocurrency payments is CoinPayments, which has been helping businesses worldwide since 2013. CoinPayments acts as a payment processor for both in-person transactions and online platforms, and it supports numerous cryptocurrencies. The company’s plugins work with nearly every major e-commerce service, including Magento, Shopify, OpenCart and WooCommerce. And with a processing fee of just 0.5%, it also offers a lot of bang for digital buck.
Another cryptocurrency processor that has been helping businesses manage crypto payments for years is GoCoin, which was founded in 2013. The service can help merchants accept Bitcoin, Bitcoin Cash, EOS, Ethereum, Dash and Litecoin payments. GoCoin offers a 1% transaction processing fee and works with most e-commerce services, including Magento, OpenCart, OSCommerce, Prestashop, Shopify, UberCart, WooCommerce and ZenCart.
Bitpay Shopify Code
PayPal, one of the largest online payments companies globally, recently announced that consumers would be able to pay merchants in the PayPal network with cryptocurrencies. More than 29 million merchants online use PayPal, so this new move will make it much simpler to accept crypto payments. Customers with PayPal wallets will be able to convert Bitcoin, Bitcoin Cash, Ether and Litecoin into fiat currencies like dollars and euros when checking out with an established PayPal merchant. This means that as a merchant you won’t actually accept crypto directly but it does at least open the door for more people buying your products and services using Bitcoin or other digital currencies.
One of the newest global cryptocurrency processors is TripleA, which was founded in 2018 in Singapore by serial entrepreneur Eric Barbier. TripleA offers a developer-focused approach to accepting cryptocurrency payments, with a lot of flexibility, including accepting payments for e-commerce, point-of-sale, invoicing and remittance. On the e-commerce front, TripleA integrates with Shopify, WooCommerce and OpenCart, and it offers a simple merchant dashboard that allows you to track orders and payments, reconcile accounts and perform refunds all in one place.
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
Follow us on Instagram for more expert tips & business owners stories.
For more technology tips
What Small Businesses Need to Know About Blockchain
5 Small Business Owners on Transitioning to Touchless Technology
Everything You Need to Know About CRM Software for Managing Customers and Sales
Beauty & the Broth: Hollywood Actress and Model Embraces Her Inner Entrepreneur
What Small Businesses Need to Know About Blockchain
'Social Proof': How User-Generated Content Resonates with Customers and Drives Sales
Welcome to CO—
Designed for business owners, CO— is a site that connects like minds and delivers actionable insights for next-level growth.
U.S. Chamber of Commerce
1615 H Street, NW
Washington, DC 20062
Stay In TouchNewsletter Sign Up
Cryptocurrencies are a form of digital or virtual currency that can be transferred directly from person to person over the internet. Cryptocurrencies provide the following advantages to merchants:
- Fast transactions
- Low processing fees
- No chargebacks
- Local and international transactions
- Payment conversion to any fiat currencies such as USD or CAD.
To accept cryptocurrencies, enable one or more of the following alternative payment methods from the Payment providers page of your Shopify admin:
After you enable a payment method that supports cryptocurrencies, you can accept Bitcoin, Ethereum, Litecoin, amongst 300+ digital currencies.
You'll still be charged transaction fees each time a customer makes a purchase using this payment method, unless you also activate Shopify Payments.
Enabling an alternative gateway will not impact your existing gateways. Each cryptocurrency gateway has a dedicated support channel that should be contacted for issues with registration or payments.