Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
The BitPay integration will boost sales for Wix merchants while offering broader crypto payment options to customers. BitPay will facilitate payments in 12 different cryptocurrencies.
On Tuesday, October 12, the world’s leading blockchain payments service provider BitPay announced its partnership with the popular SaaS platform Wix. The partnership aims at facilitating crypto payments to all merchants on Wix.
As per the announcement, BitPay’s Bitcoin and crypto payment processing will appear as a new payment option on Wix’s e-commerce platform. Furthermore, BitPay’s blockchain payments rail will integrate seamlessly with Wix’s eCommerce platform.
With this new development in place, consumers shopping on Wix’s eCommerce platforms can pay in 12 different cryptos. This includes public cryptocurrencies like Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Wrapped Bitcoin (WBTC), XRP (in certain countries).
Besides, it will also support stablecoins like BUSD, DAI, GUSD, USDP, and USDC. Speaking of the development, BitPay CEO Stephen Pair said:
“Wix is one of the largest and most widely used web development platforms with over 210 million users, so this is another step forward in moving cryptocurrency mainstream. Businesses can get to market quickly and capture incremental sales by tapping into the massive trillion-dollar cryptocurrency marketplace.”
Wix is among the recent list of customers for BitPay. The crypto payments services provider has also made several such partnerships in recent times. AMC Theatres recently announced that it will facilitate crypto payments via BitPay.
Partnership with BitPay: Boost in Sales for Wix eCommerce Merchants
Reportedly, the recent BitPay integration will facilitate a surge in sales for Wix eCommerce merchants. As per Forrester Consulting, merchants with BitPay integration and offer crypto payment options see a 2x surge in the average order value.
The study also shows that buyers who pay in crypto tend to spend more than other average customers. Another benefit is that the BitPay transaction fees are lower in comparison to other traditional payment systems. Commenting on this development, Omer Shatzky, Head of Billing and Payments at Wix said:
“We’re continuing to integrate with innovative payment partners to offer Wix merchants even more payment options to offer their customers. With BitPay, Wix merchants have access to a whole new market of customers who prefer to pay with Bitcoin and other cryptocurrencies and an avenue for their business to tap into the growing cryptocurrency market.”
In the first phase of roll-out, the service will be available to Wix merchants in UK, US, Brazil, Canada, Australia, and Germany. Also, the BitPay integration is quite easy for Wix merchants through the Wix dashboard.