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BigCommerce is allowing its merchants to expand their payment options and widen their market share.
E-Commerce company BigCommerce (NASDAQ: BIGC) has partnered with BitPay and CoinPayments to offer crypto payment solutions to its merchants. Announcing the strategic partnership on the 15th of September, BigCommerce said the crypto payments solution, in agreement with BitPay and CoinPayments, would be available in select countries. The acceptable cryptocurrencies with BitPay include Bitcoin (BTC), Ethereum (ETH), Shiba Inu (SHIB), Wrapped Bitcoin (WBTC), XRP (XRP), Dogecoin (DOGE), and Bitcoin Cash (BCH). Additionally, merchants can accept 5 USD-pegged stablecoins with BitPay. They are BUSD, GUSD, USDC, USDP, and DAI). Since it pioneered blockchain payment technology in 2011.
Benefits as BigCommerce Cooperates with BitPay and CoinPayments
Furthermore, BigCommerce highlighted the basic advantages of the alliance with BitPay and CoinPayments. Merchants can access a new global market with the new payment method. Also, the cooperation will birth lower transaction fees as crypto transactions are often cheaper than traditional payments. This way, merchants spend less on transactions and have more money for their businesses. Additionally, crypto payments are more secure due to blockchain technology, another payment option for shoppers.
BigCommerce is allowing its merchants to expand their payment options and widen their market share. At the same time, the e-commerce company will attract a new customer base consisting of crypto bears.
The Chief Sales Officer at BigCommerce, Marc Ostryniec, referred to BitPay and CoinPayments as “trusted best-of-breed partners.” He also said expanding the company’s crypto ecosystem in partnership with the crypto companies is a step towards propelling growth and innovation for merchants. The BigCommerce executive attested to the fact that there is a growing era of consumers who prefer transacting with cryptocurrencies. Ostryniec added that merchants who embrace the new payment method could remain relevant, especially as the world adopts digital currency.
BitPay CEO Stephen Pair commented on the deal with BigCommerce, saying:
“Accepting cryptocurrency can be intimidating and complex with, at times, a learning curve. We’ve teamed with BigCommerce to help minimize the lift for merchants to add crypto as a payment option alongside their existing payment methods in just a few clicks. Our strategic partnership and integration with BigCommerce moves crypto into the mainstream and supports a different future for payments to transform how merchants receive money around the world.”
Increasing Demand for Alternative Payment Solutions
Same as the BitPay CEO, CoinPayments Chief Marketing Officer Kalin Kalinov also talked about the strategic partnership with BigCommerce. Kalinov acknowledged that there is a high demand for alternative payment solutions. To counter this problem, the Chief Marketing Officer said its collaboration with BigCommerce gives merchants a trusted and scalable solution. Referring to the increasing number of crypto holders globally, he said the deal would help BigCommerce reach new audiences.