BigCommerce (Nasdaq: BIGC), an open SaaS e-commerce platform for growing and established B2C and B2B brands, has announced a strategic partnership with cryptocurrency organizations BitPay and CoinPayments to provide crypto payment solutions to BigCommerce Enterprise merchants in select countries.
BigCommerce expansion in the crypto ecosystem will accelerate international growth
BigCommerce expands its crypto ecosystem, allowing merchants to offer more payment options, increase market share, reach a new customer base, and accelerate international growth through innovation.
“Expanding our crypto ecosystem to include trusted best-in-class partners is just one step toward driving innovation and growth for our merchants,” said Marc Ostryniec, BigCommerce’s chief sales officer.
“A new generation of consumers is enthusiastic about transacting with cryptocurrency, and we’re assisting them.” Likewise, merchants who embrace this new technology will be able to stay relevant and competitive as the world of payments continues to shift to digital currency.”
Because of BigCommerce’s open, flexible e-commerce approach, merchants can select which cryptocurrency payment solutions work best in their BigCommerce store. Then, with one-click integration, merchants can start accepting crypto as a payment method for customers who want to spend their cryptocurrency.
The power of choice in the hands of the merchants
Merchants using BitPay can accept Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Bitcoin Cash (BCH), Shiba Inu (SHIB), Wrapped Bitcoin (WBTC), Litecoin (LTC), XRP (XRP), and 5 USD-pegged stablecoins (BUSD, DAI, GUSD, USDC, and USDP). BitPay, which pioneered blockchain payment technology, has processed over $5 billion in payment volumes since 2011 and supports over 100 cryptocurrency wallets.
“Accepting cryptocurrency can sometimes be intimidating and complex, with a learning curve. We’ve partnered with BigCommerce to help merchants add cryptocurrency as a payment option alongside their existing payment methods in just a few clicks,” said BitPay CEO Stephen Pair. “Our strategic partnership and integration with BigCommerce bring crypto into the mainstream and supports a different future for payments, transforming how merchants worldwide receive money.”
CoinPayments, which has over 115,000 merchants in 190 countries worldwide, is a crypto payment gateway that allows merchants to accept real-time global payments from over 100 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, for a low processing fee of 0.5 percent.
“With an increase in demand for alternative payment solutions around the world, our partnership with BigCommerce provides merchants of all sizes with a trusted, streamlined, and scalable solution to accept cryptocurrency payments,” said Kalin Kalinov, CoinPayments’ chief marketing officer. “With a growing number of crypto holders worldwide, we look forward to collaborating with BigCommerce to provide their merchants with a unique opportunity to reach new audiences and expand their business.”
BigCommerce’s crypto ecosystem strives to provide industry-leading crypto technologies to its tens of thousands of global B2C and B2B BigCommerce merchants to keep them viable and sustainable as international currencies evolve. The following are some of the critical advantages of this collaboration:
- Expand your market reach. Offering cryptocurrency as a payment method allows merchants to reach an entirely new global market and build trust and loyalty with forward-thinking consumers across various retail categories.
- Reduced Transaction Fees. Fees for crypto transactions are frequently much lower than those for traditional financing, lowering transaction costs for merchants and reinvesting the savings into the business.
- Reduce your risk. Blockchain technology is designed with security, reducing issues associated with fraudulent buyer activity. Merchants are protected from reverse chargebacks because they control all funds in their store wallets.
- Additional Payment Options merchants can streamline the purchase path and improve the shopper experience by expanding payment options.
- Innovation. Merchants gain a competitive advantage by accepting cryptocurrencies, keeping up with technological advances in e-commerce, and changing consumer demands.
