TL;DR Breakdown
• After clients demanded new forms of payment, Shop.com has decided to accept cryptocurrencies as a form of payment.
• Customers can pay through BitPay, a digital currency payment service provider.
Shop.com, the largest online store on the Internet, has announced that it will accept cryptocurrencies as a payment method. Representatives of the website announced the measure after buyers demanded new forms of payment.
The director of operations and president of the e-commerce store, Steve Ashley, has commented that they received countless petitions from the customer service department to accept cryptocurrencies.
Now the online store allows payment with ETH, BTC, LTC, BCH, DOGE, and stablecoins such as PAX, USDC, BUSD, DAI, and GUSD.
All Shop.com consumers can now pay with crypto
Ecommerce buyers requested to pay via virtual currency wallets, and the request was accepted. Now consumers of this online store will cancel with BTC and other crypto using the payment service provider, BitPay.
According to Steve Ashley, there are estimates that a quarter of online store customers want to pay through virtual currencies. The retailer is now offering another payment option to satisfy that fraction of crypto customers.
A survey conducted by a professional consultancy to over 6000 consumers worldwide have determined that 45 percent of people want to use digital currencies in the short term. Cryptocurrencies have become an important market for most investors and people around the world.
With the convenience of its customers in mind and to make way for new financial opportunities, Shop.com wants to enter the cryptocurrencies world and facilitate consumer payments.
New payment method in the largest e-commerce store
The payment service provider BitPay charges e-merchants a 1 percent fee for each transaction. The online store worked with this payment provider because it is cheaper than building an internal cryptocurrency processor.
Steve Ashley has said that Bitpay is a leading company in the industry, and they are considered one of the largest cryptocurrency payment services in the world.
To enter this payment method with BitPay, took almost seven weeks. Ashley has commented that the process and the first results have been good and that everyone is happy and that they have obtained many clicks from clients interested in knowing more about this topic.
When customers go to make their payments, they will find the BitPay option. They must click on BitPay so the online store can redirect them to another BitPay section to complete the payment process.
To finalize the purchase, Shop.com customers must select the appropriate BitPay wallet (Blockchain Wallet, BitPay, Copay, Coinbase, Electron Cash, Electrum Wallet, etc.). After completing this process, customers will need to scan the QR code within their application, and the purchase will be completed.
