Helio has recently updated its Solana Pay plugin for Shopify, providing merchants with the capability to accept payments in a wide range of cryptocurrencies with real-time stablecoin conversions. With this enhanced plugin, Shopify merchants can now receive payments in various cryptocurrencies and have them instantly converted to stablecoins like USDC, EURC, PYUSD, and USDY.
This update is expected to revolutionize e-commerce payments by simplifying and speeding up the payment process for merchants. Customers can now fund their wallets with their preferred crypto, while merchants have a seamless way to convert their crypto earnings to fiat directly into their bank accounts.
Stijn Paumen, Co-Founder & CEO of Helio, emphasized the growing global consumer segment represented by crypto holders and highlighted how Shopify merchants can tap into this market by easily installing Solana Pay.
Solana Pay, a payment framework built on Solana (SOL) and managed by Helio, is integrated into Shopify, allowing merchants to accept low-fee cryptocurrency payments. The initial version of the plugin processed million in transactions for over 200 stores in the first six months, showcasing its efficiency and effectiveness in saving merchants over million in fees.
The updated Solana Pay plugin for Shopify offers stability and predictability by enabling instant conversions and settlements in stablecoins, eliminating price volatility. Additionally, it introduces advanced Web3 features such as NFT airdrops, exclusive store access for NFT holders, and integration with popular wallets like Phantom and Coinbase.
Steven Laver, Mobile Engineering Lead at Solana, praised the Solana Pay plugin for enabling product preorders denominated in USDC and saving over million in card processing fees. The plugin has a transaction fee of 0.75%, supporting ongoing innovation and operational costs while providing an alternative to traditional payment methods.
Overall, the updated Solana Pay plugin for Shopify is set to enhance the payment experience for merchants and customers alike, opening up new opportunities for businesses to thrive in the world of cryptocurrency transactions.
