Shopify has added Solana Pay to its pool of payment solutions, allowing merchants to use the platform to accept USDC transactions.
Josh Fried from Solana Labs branded the intersection of digital assets and payment solutions as the"killer app for crypto," adding that “[Everyone] should be doubling down on this.”
According to Fried, Solana Pay can drastically reduce transaction costs compared to credit card processing fees. The network average charge is $0.00025 per transaction, while credit card processing costs range from 1.5% to 3.5%. In the last epoch, Solana's users paid an average transaction fee of 0.000009664 SOL.Shopify estimates that 10% of all e-commerce transactions in the United States are made through their platform, or $444 billion of the world's e-commerce market.
Shopify's volume will serve as a proving ground for the Solana blockchain. In previous years, Solana struggled with
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