Solana Pay Integrates With Shopify For Web3 Payments, SOL Surges 2%

Key Points:

• Solana Pay integrates with Shopify as a new payment option.
• Provides real-time access to money with no intermediaries.
• Enables web3-enabled commerce experiences and digital dollar payments.

Solana Pay, a decentralized payment protocol built on Solana by Solana Labs, has integrated with Shopify as a new payment option. The integration makes Solana Pay available to millions of businesses as an approved app integration with Shopify Inc.

Solana Pay is an open-source protocol built on the decentralized Solana network. Solana’s high transaction speeds, near-zero fees, and sustainability make it an ideal choice for scaling web3 payments while also providing a great user experience.

By eliminating intermediaries, Solana Pay makes it easy for merchants to get real-time access to their money and a greater ability to manage working capital, liquidity, and liability protection. With no intermediary, the protocol eliminates bank fees, chargebacks, and holding times while enabling immediate, direct payment settlement of USD stablecoins compatible with Solana.

At the time of this writing, SOL is trading at around $20.68, up by 2% after the integration announcement.

The integration opens up millions of merchants to a more dynamic and efficient payment choice, while consumers get the convenience and increased utility of being able to pay for goods and services with digital dollar currencies from the vast network of merchants using Shopify. Payments become a gateway for web3-enabled commerce experiences, including token-gated offers, simple cross-border payments, and NFT-based loyalty programs.

Several brands currently active on Solana have already committed to making Solana Pay a payment option in their Shopify-powered storefronts, seeing the opportunity of providing a web3-native payment option for their web3-savvy customers.

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