Wix Ecommerce Merchants Can Now Accept Cryptocurrencies Through Bitpay Partnership 1 Wix eCommerce website owners can now accept cryptocurrencies like Bitcoin through a new partnership with blockchain payment service BitPay.
The BitPay and Wix integration allows Wix eCommerce customers to accept crypto payments through BitPay on their Wix-hosted websites.
Consumers can pay using 12 different cryptocurrencies. BitPay currently supports, including Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Wrapped Bitcoin (WBTC), XRP (in certain countries), and 5 USD-pegged stable coins (BUSD, DAI, GUSD, USDP, and USDC).
Combined, these accepted cryptocurrencies have a market cap of more than $1.4 trillion, accounting for nearly 70% of the global crypto market capitalization (as of October 4th, 2021). “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.” Stephen Pair, BitPay CEO With this integration, Wix eCommerce merchants gain the opportunity to grow sales by attracting first-time buyers who prefer to pay with Bitcoins or other cryptocurrencies.
According to a study by Forrester Consulting commissioned by BitBay, merchants that accept crypto payments tend to see an average order value increase by 2x because buyers paying with cryptocurrency have a tendency to spend more than other customers.
Transaction fees for BitPay are lower than those of other traditional payment types, eliminating chargebacks and limiting potential fraud, resulting in merchants realizing significant savings when accepting cryptocurrency payments. Currently, the BitPay processing fee is only 1%. “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.” Omer Shatzky, Head of Billing and Payments at Wix BitPay on Wix
The service is available first to Wix merchants and customers in the US, UK, Brazil, Australia, Canada, and Germany with more countries to be added in a future expansion of the program.
It’s easy for Wix merchants to accept crypto payments today. All they have to do is just click BitPay in their dashboard settings and then create a BitPay account.
BitPay is a trusted name in cryptocurrency payments. The company was founded in 2011 and is one of the oldest cryptocurrency companies that pioneered payment processing for online merchants. Online marketplace NewEgg was one of its early adopters.
As a pioneer in the field, it has helped enable holders of cryptocurrencies to use their funds at online stores and retail locations globally, including with integrations through Apple Pay and Google Pay .
The Wix partnership is just the latest integration by BitPay to help small businesses take advantage of a growing number of cryptocurrency buyers wanting to purchase goods using a supported digital currency. Connect With Us And Other Small Business Owners […]