BitPay and Wix work together to enable crypto payments. What are the developments? Let’s find out in this in-depth study
Here’s what happens when two large companies team up to facilitate encryption.
Key points
- BitPay has signed an encryption agreement with Wix
- Wix offers a solution for processing payments in cryptocurrencies and bitcoins
- The global cryptocurrency market is 70% larger than its market capitalization.
- BitPay, the world’s most popular blockchain payment platform, and Wix, a global SaaS platform that helps you build, manage and grow your online presence, have announced the addition of BitPay cryptocurrency to the Wix e-commerce platform.
BitPay’s Blockchain payment interface integrates seamlessly with Wix’s e-commerce platform, allowing Wix merchants to offer customers payment options using bitcoin and other cryptocurrencies.
The global market cap for the aforementioned cryptocurrencies exceeds $ 1.4 trillion. This is nearly 70% of the cryptocurrency market capitalization worldwide.
Wix E-Commerce consumers can now use BitPay to make cryptocurrency payments on sites hosted by Wix.
According to Businesswire, Stephen Pair, CEO of BitPay, said Wix is the most popular web development platform with over 210 million users. This is an important step in cryptocurrency integration. Businesses can quickly enter the market and tap into the huge cryptocurrency market to acquire additional sales.
To take advantage of this positive period, people can use reliable platforms such as the Bitcoin Era app to start investing. To get started, you just need to register and follow the instructions of the platform. If necessary, read up on cryptocurrencies in general first to understand how this market works in general.
The merchant’s sales will be increased by the integration
Wix merchants can now use this integration to increase their sales by attracting first-time customers using bitcoin or another cryptocurrency. According to the BitPay study, merchants offering cryptocurrency payments often experience a 2X increase in order value. The average order value for buyers is 2 times higher than for fiat currency users.
According to Businesswire, Omer Shatzky is the head of billing and payments at Wix and says he believes BitPay gives merchants access to an entire market of customers who, instead of paying traditionally, prefer to pay in bitcoin and other cryptocurrency payments. According to him, it’s a way to tap into the growing cryptocurrency markets
Merchants using Wix can now make cryptocurrency payments by clicking on BitPay in the dashboard settings and then creating a BitPay account. BitPay processing fees are limited to 1% and require no additional integration.
The service will initially be available to Wix users and merchants in the US, UK and Brazil.
About BitPay
BitPay was founded in 2011 and celebrates its 10th anniversary in 2021. BitPay is a pioneer in blockchain payment processing. It offers services that reduce fraud charges, eliminate chargebacks, and enable borderless cryptocurrency payments. BitPay has raised over $ 70 million from top investment firms.
Wix
Wix is a cloud-based website building platform that has over 200 million users worldwide. Wix enables millions of people, businesses, and organizations to create websites that showcase their brands, workflows, and businesses. Wix’s headquarters are in Tel Aviv, Israel. There are 13 offices in 7 countries, 9 in the United States.