2023-08-24 11:46:24

Collaboration with Solana's e-commerce giant triggered the rise

Solana Labs has achieved significant success by integrating its decentralized payment protocol Solana Pay into US e-commerce giant Shopify.
Thanks to the new payment method, millions of businesses on Shopify will be able to accept payments in USDC, the second largest stablecoin in the crypto market. Because USDC is pegged to the dollar, businesses are expected to adopt this payment method quickly.
With this integration, Shopify, which makes up 10% of the US e-commerce industry, has become a part of the Solana ecosystem. One of the most important features of Solana Pay that will ensure rapid adoption on the platform is that the transaction cost is almost zero. It is estimated that businesses may be willing to use Solana Pay in an environment where credit card commissions vary between 1.5% and 3.5%. So much so that average transaction fees on the Solana network are currently at a negligible level of $0.00025.
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