The e-commerce portal, Shop.com announced a partnership with BitPay and has started offering the option to its customers to pay with Bitcoin, Dogecoin, Ether and several major dollar-pegged stablecoins.

Shop.com is a United States-based e-commerce platform and is the latest such website to accept cryptocurrency payments from its customers. It announced its partnership with BitPay, which is a crypto payment service provider. BitPay will allow Shop.com to accept payments from its customers in several cryptocurrencies including Bitcoin (BTC).

This new partnership will enable Shop.com users to select the BitPay payment option during the checkout process if they wish to pay through their crypto wallets. BitPay will provide opportunities to pay with Bitcoin, Bitcoin Cash (BCH), Wrapped Bitcoin (WBTC), Ether (ETH),  Litecoin (LTC), Dogecoin (DOGE) and five USD-pegged stablecoins.

Steve Ashley, Shop.com president and COO describes this partnership as the next chapter in doing business. He also said that the BitPay integration is available in every country where Market America operates. This includes the Malaysia, United States, United Kingdom, Canada, Hong Kong, Australia, Taiwan, and Singapore. 

BitPay is used by companies that deal with fiat currencies to act as a gateway for crypto payments. Fiat currencies does not hold any intrinsic value and does not have a use value either. It holds value only because a government maintains its value, or because the parties involved in exchange agree on its value. Studies by the crypto payments provider have went on to reveal that both the crypto holders and non-owners have shown clear interest in crypto payments. 

The study claims that 93% of responding crypto users indicate that they would highly consider making purchases in the future using crypto. 59% of consumers who have never held crypto are still interested in using crypto to make payments. 

Rushali Das

CBW - External Analyst

INDIA