BigCommerce expands crypto ecosystem with BitPay and CoinPayments

By expanding its crypto ecosystem, BigCommerce opens up opportunities for its merchants to offer payment options, broaden market share, tap into a new customer base, and accelerate international growth through innovation. Company officials stated that a new era of consumers are passionate about transacting using crypto, and they’re helping them do it. Merchants embracing this new technology can remain relevant and maintain an advantage as the world of payments continues to shift to digital currency.

The currencies that customers can use

BigCommerce’s open, flexible approach to ecommerce means merchants can choose which cryptocurrency payment solutions work better in their BigCommerce store. With single-click integration, merchants can begin offering cryptocurrency as another payment method for shoppers looking to spend their cryptocurrency.

With BitPay, merchants can accept a variety of cryptocurrencies including Bitcoin, Ethereum (ETH), Dogecoin, Bitcoin Cash, Shiba Inu, Wrapped Bitcoin, Litecoin, XRP, and 5 USD-pegged stablecoins (BUSD, DAI, GUSD, USDC, and USDP). Having pioneered blockchain payment technology, BitPay has processed more than USD 5 billion in payments volumes since 2011, and supports over 100 crypto wallets.

With over 115,000 merchants across 190 countries around the world, CoinPayments is a crypto payment gateway giving merchants the ability to accept real-time global payments from over 100 cryptocurrencies including Bitcoin, Ethereum, and Litecoin with a low processing fee of 0.5%.

What the partnership aims to achieve for merchants

BigCommerce’s crypto ecosystem strives to provide crypto technologies to its global B2C and B2B BigCommerce merchants to keep them viable and sustainable as currencies around the world evolve. By expanding payment options to choose from, merchants are able to streamline the purchase path to enhance the shopper experience.

By offering cryptocurrency as a payment method, merchants may open their brands to an entirely new global market to develop trust and loyalty with forward-thinking consumers across a range of retail categories. They also gain a competitive edge by moving with technological advances in ecommerce and changing consumer demands

With crypto transactions, fees are often much lower than traditional financing, reducing transaction costs for merchants and putting the savings back into the business. Blockchain technology is built with security first, lessening issues related to fraudulent buyer activity. With merchants having full control of all funds held in their store wallets, they are protected from reverse chargebacks once those funds are received.