Helio, a top Web3.0 payments platform, just revealed it is taking control of the Solana Pay plugin on Shopify. This will allow millions of Shopify merchants to receive payments in various cryptocurrencies.
Integrating Solana Pay on Shopify with Helio
This new development will enable merchants to avoid banks and card issuers, tackling e-commerce challenges like high fees, chargebacks, and slow payouts. Shopify introduced Helio’s Solana Pay, a decentralized payment protocol to its platform last year to allow its e-commerce merchants to receive affordable crypto payments.
In the first half-year, the initial version processed about $50 million in transactions for 200 stores, saving merchants over $1 million in fees.
By leveraging the Solana blockchain, payment costs are nearly zero compared to credit card fees. Solana Pay guarantees instant global payouts, supporting internet entrepreneurs in the global market.
In a chat with Decrypt, Helio’s CEO and co-founder, Stijn Paumen, highlighted Solana Pay’s speed and security in payments, ensuring funds go directly between merchants and buyers without being held by Helio or others. He mentioned that shifting 10% of e-commerce payments to blockchain could save $500 billion for 25 million online stores in the next decade.
Furthermore, the upgraded plugin for Shopify will offer NFT airdrops and exclusive token-gated features for NFT holders. Paumen mentioned there has been positive feedback from users who utilizes features like Helium Mobile and Stepn.
Solana Blockchain Experience Significant Adoption
Solana’s ecosystem has gained widespread adoption due to its fast transactions, low fees, and scalability in various applications like NFT platforms and DeFi projects.
PayPal, the US-based fintech giant recently launched its stablecoin PYUSD on the Solana blockchain. This was done in hopes of bringing in faster and cheaper transactions compared to Ethereum. Just like PayPal, Circle also recently expanded its Web 3.0 Services on the protocol for developers.
Even with recent network congestion, it holds the title of the fastest blockchain globally, outpacing well-known rivals like TON, Polygon, Ethereum, and Bitcoin.
Andrew Tate, a media personality seems to have a contrasting view about the blockchain since he burnt over $10 million on the newly launched memecoin Top G with plans to crumble Solana.
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