Big e-commerce giant Shopify integrates with Solana Pay

Solana blockchain's payment protocol integrates with the world's leading e-commerce platform Shopify.

Big e-commerce giant Shopify integrates with Solana Pay

Canada's e-commerce behemoth Shopify has announced integration with Solana Pay, the payment solution of the sixth-largest blockchain in the world, Solana.

Josh Fried, Business Development Director of Solana Foundation's Commerce division, emphasized in a statement:

"The collaboration between Solana Pay and Shopify brings millions of merchants enhanced payment capabilities that are more dynamic and efficient. Consumers, in turn, benefit from the convenience and expansive network of Shopify in transacting goods and services using digital currencies."

Solana Labs introduced Solana Pay in February 2022 with the aim to popularize and advance cryptocurrency payments in consumer transactions. Addressing common bottlenecks of traditional solutions, Solana Pay supports invoice settlements in SOL, USDC stablecoin, and various other SPL-standard tokens.

Transactions on Solana Pay are instant and nearly feeless, contrasting with credit cards that typically charge businesses 1.5% to 3.5% per transaction.

Since its inception, Shopify has processed over $444 billion in economic transactions across 170 countries. Prior to integrating with Solana, the company made significant strides into Web3, including support for NFT sales since July 2021 and expanding this feature to its retail ecosystem since June 2022. Additionally, Shopify has issued NFTs in collaboration with the NBA's Chicago Bulls and integrated Bitcoin payments via Lightning Network.