Shop.com Launches Crypto Payments With BitPay

Highlights:

  • Shop.com is a multi-level marketing and e-commerce company based in the United States of America.
  • The president of Shop.com, Steve Ashley announced that it will be partnering with BitPay.
  • This partnership will enable Shop.com to facilitate payments in cryptocurrencies via BitPay.

What is Bitpay?

As the name suggests, BitPay is a Bitcoin payments service provider based in Atlanta, United States of America. BitPay facilitates Bitcoin and Bitcoin cash payments for third-parties and exchanges.

Some developers founded BitPay in 2011 to provide seamless Bitcoin payments facilities to various companies, especially mobile checkout service providers. Within one year, BitPay’s clients grew to a whooping 1000 parties starting the revolution of Bitcoin.

BitPay
Source: BitPay

What is Shop.com?

Shop.com is an established e-commerce platform based in the United States of America. It is a wholly owned subsidiary of Market America.

The holding company is a marketing firm, also based in the United States. Market America purchased Shop.com in 2010 for a confidential amount of money. Market America and Shop.com account for almost 40% of the e-commerce sales in the United States of America.

Shop.com
source: Pinterest

What did Shop.com announce?

In a recent interview, The President of Shop.com, Steve Ashley announced that it will be partnering with BitPay. The company, which is a wholly-owned subsidiary of the marketing firm, Market America, will be accepting payments in various cryptocurrencies. These cryptocurrencies include Bitcoin, Ethereum, Dogecoin, Litecoin and USD stablecoins such as Tether and USDC. The payments will be facilitated by BitPay, a Bitcoin payment service provider to third parties.

All countries where Market America operates will be able to access this facility. Some of the countries where Market America has its offices are Malaysia, Canada, Australia, Taiwan, Hong Kong, United Kingdom and Singapore. Thus, citizens of all these countries will be able to pay in cryptocurrencies for goods bought from Shop.com. This facility gives them an option to pay in digital assets if they are reluctant to pay in fiat currencies.

source: Twitter

How to pay in cryptocurrencies?

Steve Ashley took to YouTube to explain how to pay for the orders with cryptocurrencies. The process is quite convenient and easy. One must select all the products they want to buy. They must then add them to their cart and proceed to checkout. A list of payment options including credit cards, debit card, fizzle and BitPay will appear. One must select the BitPay option and then select the cryptocurrency they choose to pay in.

The customer will have to choose from Bitcoin, Ethereum, Dogecoin, Litecoin and the stablecoins available. As soon as the payment is complete, the amount of the cryptocurrencies will be debited from their wallet addresses and credited to the company’s wallet.

Source: Twitter