With the surge in popularity and adoption of decentralized currencies, many payment aggregators have entered the sector to streamline payments. In a recent development, Helio Pay, a known crypto payment platform, has announced the expansion of its Solana Pay on Shopify.
After this expansion, it supports various blockchain networks, including Bitcoin, Ethereum, and several other Layer 2 solutions. The advancement will enable merchants to accept a wide variety of digital currencies, offering customers more payment options while streamlining transaction management.
Stijn Paumen the co-founder and chief executive officer of Helio said “We will offer buyers the flexibility of paying on Bitcoin, Ethereum, and more whilst merchants still settle on Solana.”
As per market experts, the growing adoption of decentralized platforms and e-commerce has backed the advancement of blockchain-based payment systems.
Additional information states that there are around 1000 Shopify stores that use and accept payment leveraging Helio Pay. The firm behind the payment protocol notes that the major aim of leveraging the Solana blockchain for Helio Pay is that it is among the fastest and most scalable blockchains worldwide.
The recent integration will help Helio Pay cater to wider decentralized payment enthusiasts and will also help them to make their payment in any preferred cryptocurrencies, such as Bitcoin, Ethereum, and others.
E-Commerce Companies Eyeing to Strengthen Decentralized Payment
As we all know the physical world is slowly shifting towards the digital era and now e-commerce platforms are one of the closest competitors of physical stores. Dozens of e-commerce giants hold around 45 percent of the online shopping business.
By the end of Q3, 2024 there are over 50 companies that accept payments in cryptocurrencies like Bitcoin, Ethereum, Solana, Dogecoin, and others.
The initiative of integrating cryptocurrency transactions by E-commerce companies and other firms has majorly backed the adoption of digital assets in nations like the United States, United Kingdom & United Arab Emirates including many other nations.
Earlier on September 23, 2024, Todayq reported that Alchemy Pay Integrates Crypto Card With Google Pay for Faster, More Secure Payments. By adding the crypto card to Google Pay, users can make payments for everyday transactions more quickly and securely.
The Avalanche Foundation has recently introduced a cryptocurrency-based payment card, aiming to bridge the gap between traditional and digital currencies. To boost the card’s growth and adoption, the foundation has partnered with Visa, the American multinational payments giant.
The card has been launched in select Latin American and Caribbean markets, allowing users to make purchases with merchants worldwide that accept Visa payments.
Finance experts widely believe that continuous collaborations between crypto-based companies and established financial institutions are shaping the future of the digital assets market. These partnerships could drive a fresh growth trajectory, potentially pushing market capitalization to new milestones.
