eCommerce platform, Wix, has partnered with blockchain payment services company, BitPay, to enable merchants to begin accepting cryptocurrency payments.
“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,” said Stephen Pair, BitPay CEO.
“Businesses can get to market quickly and capture incremental sales by tapping into the massive trillion-dollar cryptocurrency marketplace.”
Merchants can begin accepting crypto payments by selecting the BitPay option in their Wix dashboard.
The integration of BitPay’s blockchain payment rails with Wix’s eCommerce platform will enable merchants to accept 12 different cryptocurrencies, 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).
The partnership comes on the heels of a recent report by Forrester Consulting, which revealed that merchants who accept crypto payment options often see a 2x increase in average order values as buyers who pay with cryptocurrency tend to spend more than other customers.
Accepting cryptocurrencies can also unlock significant savings for merchants as BitPay’s 1 percent transaction processing fees are lower than other traditional payment options.
The offering is initially being made available to Wix merchants and customers in the U.S., the U.K., Brazil, Australia, Canada and Germany.