Solana's payment system Solana Pay has integrated with the e-commerce giant Shopify.
“Solana Pay on Shopify opens up millions of merchants to a more dynamic and efficient payment choice, while consumers get the convenience and increased utility of being able to pay for goods and services with digital dollar currencies from the vast network of merchants using Shopify,” Solana Foundation Head of Commerce Business Development Josh Fried said in a statement.
Solana Labs launched Solana Pay in February of 2022 as a way to allow merchants to accept cryptocurrency payments from customers. Solana Pay lets buyers and sellers interact directly with USD stablecoins compatible with Solana, and the platform eliminates bank fees, chargebacks and holding times.
Shopify's web3 moves
Shopify has facilitated over $444 billion in economic activity and is available in 170 countries, according to the platform's website. The firm has made other moves into web3, such as allowing merchants to add NFT-based loyalty rewards and to sell NFTs directly to customers.
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