Shopify brings on crypto payments with CoinPayments

CoinPayments, the world's leading cryptocurrency payments processor, signs strategic partnership with Shopify (NYSE:SHOP). The collaboration will bring CoinPayments' crypto payments processing platform to all Shopify merchants as both companies look to fuel wider adoption of payments in digital currencies.

This announcement follows a successful beta trial that started in 2019. Under the terms of the partnership, CoinPayments will now be a visible payment option for merchants on the Shopify platform and will make cryptocurrency transactions easier and more accessible while reducing transaction fees. Vendors will now get paid faster in any of the 1,800 cryptocurrencies supported by CoinPayments while gaining access to untapped markets globally. This partnership further enables cross-border payments, allowing merchants to eliminate the hassle of working with multiple payment processors across different jurisdictions.

"The combination of Shopify and CoinPayments is unstoppable in the payments industry," said CoinPayments CEO Jason Butcher. "By bringing our easy-to-use global crypto payments platform together with Shopify's extensive merchant base, we look forward to delivering a seamless process for anyone looking to do business using cryptocurrencies. As leaders in ecommerce and crypto payments, our combined expertise reflects the future of business transactions."