Shopifye-commerce giant, Adds Solana Pay to its pool of payment optionsIt enables millions of merchants to accept cryptocurrency transactions using the platform. US Dollar Coin (US Dollar).
Josh Fried Solana Labs described the intersection between digital assets and payment solutions as follows: “killer crypto apps”adding all “They should bet on it”.
According to Fried, Solana Pay can significantly reduce your transaction costs compared to credit card processing fees. The average cost of the network is $0.00025 per transaction, while credit card fees range from 1.5% to 3.5%. Recently, Solana users paid an average of 200 TL transaction fee. 0.000009664 LEFT.
According to Shopify estimates, 10% of all e-commerce transactions in the US, Equal to $444 billion, takes place through the platform. The company has gradually integrated Web3 solutions into its operations, including a suite of blockchain tools and crypto wallet connectivity capabilities for Web3-based stores.
Shopify’s volume will serve as a testing ground for the Solana blockchain. In previous years, Solana has struggled with reliability and uptime issues. Anatoly Yakovenkoco-founder solves these problems “swear” attributed to low-cost network operations.
However, recent statistics show that network performance has improved. According to the latest report, Solana has 100% uptime since Feb 25marks a full quarter without a break. February’s only anomaly it put the network in a stalemate for about 19 hours.
Released in February 2022, Solana Pay is a peer-to-peer payment infrastructure It offers merchants the ability to accept and manage payment transactions using digital assets. The platform is the result of the collaboration between them. Solana Labs, Checkout.com, Circle And ciconwith additions wallet from Phantom.