Shopify, a front to end provider of ecommerce solutions has announced that it is launching bitcoin payment integration for its 75,000+ merchants. With the new solution, Shopify’s merchant customers will now be able to receive bitcoin payments alongside traditional funding options like credit cards and PayPal. The service is being providing using services from BitPay, arguably among the leading bitcoin merchant payment processing firms.
According to Shopify, the integration comes as the company received a lot of demand from its customers for bitcoin integration. For merchants, the news comes as an early holiday gift as it offers them greater funding options to cater to the important shopping season.
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In terms of bitcoin, as prices have reached $1000, one of the most important questions is “where can you use them?” While all of Shopify’s 75,000 plus merchants aren’t expected to be integrating bitcoin payments immediately, the news is expected to lead to a large new segment of ecommerce companies offering sales in the digital currency. The Shopify news has been greeted very positively by the bitcoin market, as prices are trading at all-time highs across all leading exchanges today.
Commenting in a blog post, Shopify stated these main features:
• Customers from around the world can check out with digital currency.
• The currency works just like cash.
• Transactions cannot be reversed by the buyer (unlike credit cards or PayPal).
• You can choose to receive your payments in Bitcoins (paid into your Bitcoin wallet) or paid in your local currency directly into your bank account every business day.
• Transactions are secure and meet the highest standards for ecommerce security.