Shopify, an E-commerce platform, has added Solana Pay as a payment option. This is expected to allow merchants to use the platform to accept crypto transactions and will start with USD Coin (USDC $1.00) stablecoin payments, stated Cointelegraph.
According to TechCrunch, Solana plans to add other altcoins on its platform in the coming months. It is believed that it will also include its native SOL (SOL $22) token and the meme token Bonk.
Sources revealed that Fried expects that Solana Pay can drastically reduce transaction costs compared with credit card processing fees. The network’s average charge is expected to be about $0.00025 per transaction. The credit card processing fees are believed to range from 1.5% to 3.5%. Supposedly, earlier Solana’s users paid an average transaction fee of 0.000009664 SOL, Cointelegraph added.
Furthermore, the company is expected to integrate Web3.0 solutions into its operations. It is believed that they will also include a suite of blockchain commerce tools for Web3.0-based stores and crypto wallets, Cointelegraph concluded.
(With insights from Cointelegraph)
