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Shopify now supports hundreds of crypto tokens via Solana Pay via Helio
Crypto payments platform helium on Thursday announced a significant update to its Solana Pay plugin for Shopify, opening the door for millions of Shopify merchants to accept payments in hundreds of cryptocurrencies.
The update includes improved features for broader token support, improved loyalty programs and seamless integration, expanding the capabilities of the Solana-based payments service.
In an interview with DecipherStijn Paumen, CEO and co-founder of Helio, said that the ultimate power of Solana Pay is super-fast payments secured by blockchain and settled directly between merchant and buyer, and that the funds are never held by Helio or anyone else.
“This allows merchants to bypass traditional payment intermediaries such as banks and card issuers, solving persistent e-commerce problems such as high fees, chargeback rates and slow payments,” he said.
First launched last year, Helio’s Solana Pay plugin allows Shopify merchants to accept cryptocurrency payments at low fees. In the first six months, the initial version processed approximately $50 million in transactions for more than 200 stores, saving merchants more than $1 million in fees.
“If we can migrate 10% of e-commerce payments to blockchain over the next 10 years, we will save approximately $500 billion in costs for more than 25 million websites selling online,” Paumen added.
The updated plugin adds additional Web3 features for Shopify users, including NFT airdrops and token-gate features exclusive to NFT holders. Paumen said his company has received “extremely positive” feedback from such features, with phone encryption service Helium Mobile and move-to-earn game Stepn among those already using the feature.
“This move marks a significant step in the cryptocurrency industry’s evolution towards greater accessibility for everyday users, making it easier than ever for people to interact with digital assets in their daily lives,” said Frank Mong, COO of Helium Mobile, in a statement.
New features to enhance customer loyalty programs and integrate Web3 capabilities are expected to drive adoption among Shopify merchants. To further support merchants, the plugin includes automatic conversions to stablecoins, eliminating the volatility risk traditionally associated with cryptocurrencies like Bitcoin or Ethereum.
“A consumer can purchase a store item in SOL or BONK while the merchant always receives a digital dollar,” Paumen said. “USDC payments can also be automatically converted into fiat and sent to the merchant’s bank account.”
This feature is expected to attract merchants previously hesitant to offer cryptocurrency payments, he noted.
The updated plugin also introduces a transaction fee of 0.75%, lower than that of traditional payment methods.
“By removing intermediaries, blockchain payments inherently offer merchants numerous advantages over traditional methods, including instant payments, elimination of chargebacks and global accessibility,” Paumen said.
“But honestly, these benefits are common to many cryptocurrency payment platforms,” he added. “The real challenge is making these benefits accessible and easy to use for everyone.”
Looking to the future, Helio is already working on new features such as cross-chain payments to meet customer needs.
“We will offer buyers the flexibility to pay on Bitcoin, Ethereum and more while merchants will continue to opt for Solana,” Paumen revealed.