GoCoin has partnered with Shopify to enable the e-commerce service’s 120,000 merchants to accept cryptocurrency payments. This announcement follows GoCoin’s recent partnerships with other e-commerce services, including PayPal.
On Wednesday, GoCoin announced a new partnership with online e-commerce platform Shopify. The partnership will give Shopify’s 120,000 merchants the option to accept bitcoin, litecoin, and Dogecoin payments through GoCoin’s cryptocurrency payment processor.
Shopify Product Director Louis Kerns believes the move will increase revenue for the platform’s merchant-clients.
We’re always looking for new technologies that will help our merchants run their businesses and increase sales. The partnership with GoCoin provides anyone on our platform with the option to accept multiple cryptocurrencies.
GoCoin CEO Steve Beauregard says GoCoin is a great option for merchants who are interested in accepting bitcoin and altcoin payments, but have neither the time nor desire to navigate the ever-changing cryptocurrency landscape.
Thousands of cryptocurrencies have entered the market since bitcoin’s inception, and new altcoins are launched every day. GoCoin helps online merchants avoid shopping cart abandonment by quickly and easily offering the latest digital currencies as payment options.
Many merchants fear price volatility means accepting cryptocurrency payments is a bad idea. But stores which use a bitcoin payment processor like GoCoin (or BitPay, Coinbase, etc.) have nothing to fear. While it is true that cryptocurrency prices remain volatile, merchants who utilize Shopify’s GoCoin integration can choose to convert their bitcoins to fiat currency for a small fee (which is less than credit card processing fees). Moreover, it is not difficult to add cryptocurrency payments to a Shopify-enabled storefront. GoCoin offers a simple guide that helps merchants get started in just a few, quick steps.
The Shopify-GoCoin partnership will benefit both merchants and cryptocurrency users. Merchants open themselves up to a new target audience, and the cryptocurrency community could have thousands more places to spend their coins. Specifically, Litecoin and Dogecoin should each see huge returns on this partnership. Since Litecoin and Dogecoin are the only two altcoin payments GoCoin processes (currently, at least), the two coins now have yet another leg up on their competitors.
Images from Shutterstock.
Last modified (UTC): October 29, 2014 22:45