BitPay and Wix have teamed up to make cryptocurrency payments possible.
BitPay, the world’s largest blockchain payment network, and Wix, a leading worldwide SaaS platform for creating, managing, and developing an online presence, have announced the inclusion of BitPay cryptocurrency to the Wix e-commerce platform as a new payment option.
BitPay’s blockchain payment interface works in tandem with Wix’s e-commerce platform, allowing Wix merchants to accept bitcoin and other cryptocurrencies as payment choices.
Customers can pay with any of 12 different cryptocurrencies. BitPay will continue to accept Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Wrapped Bitcoin (WBTC), XRP (in some regions), and BUSD, DAI, GUSD, USDP, and USDC as soon as possible.
The combined market capitalization of the cryptocurrencies listed above exceeds $ 1.4 trillion, accounting for about 70% of the global crypto market capitalisation.
The integration of BitPay and Wix allows Wix e-commerce customers to make cryptocurrency payments on their Wix-hosted websites using BitPay.
“With over 210 million users, Wix is one of the largest and most frequently used online building platforms, so this is another step forward in the mainstreaming of cryptocurrencies,” said Stephen Pair, CEO of BitPay, according to Businesswire.
“By tapping into the vast cryptocurrency market, which is worth a trillion dollars, businesses may easily enter the market and acquire extra sales.”
Merchant sales will be boosted as a result of the integration.
This integration allows Wix e-commerce merchants to increase sales by enticing first-time buyers to purchase with bitcoin or another cryptocurrency. According to a survey commissioned by BitPay and conducted by Forrester Consulting, merchants who accept bitcoin payment saw a 2X increase in average order value. Buyers tend to spend more than those who use fiat currency.
According to Businesswire, “With BitPay, Wix merchants have access to a whole new market of customers who choose to pay with bitcoin and other cryptocurrencies, as well as a way for their business to tap into the burgeoning cryptocurrency market,” said Omer Shatzky, Wix’s billing and payments manager.
Wix merchants may start accepting crypto payments right now by going to their dashboard settings and clicking on BitPay, then opening a BitPay account. There is no need for extra integration, and BitPay’s processing charge is capped at 1%.
Merchants and Wix users in the United States, United Kingdom, Brazil, Australia, Canada, and Germany will be able to use the service at first.
BitPay, which was founded in 2011, is celebrating its tenth anniversary in 2021.
BitPay is a blockchain payment processor that has been hailed as a pathfinder. The Washington Newsday Brief News is a daily newspaper published in Washington, D.C.