BitPay teams up with Wix to let merchants accept payments in crypto

BitPay, a crypto payment service provider, has entered into a crypto deal with Wix, a popular Software-as-a-Service (SaaS) provider that lets users create, manage, and grow an online presence. A news release revealed this news on October 12, noting the agreement will see Wix integrate BitPay’s Bitcoin (BTC/USD) and crypto payment processing solution into its eCommerce platform.

According to the press release, this integration will let Wix merchants offer their customers an option to pay in BTC and 11 other cryptocurrencies. These are Bitcoin Cash (BCH/USD), Dogecoin (DOGE/USD), Ethereum (ETH/USD), Litecoin (LTC/USD), Wrapped Bitcoin (WBTC/USD), XRP (not supported in all countries), and five stablecoins pegged to the US dollar; BUSD, DAI, GUSD, USDP, and USDC.

The publication further disclosed that the service would initially roll out in the US, UK, Brazil, Australia, Canada, and Germany. To access this functionality, users only need to click BitPay in their dashboard settings then create an account with the payment processor. However, it is worth noting that BitPay will charge a 1% fee to process each transaction.

Exposing over 210 million people to crypto

Commenting on this bullish partnership, BitPay’s CEO, Stephen Pair, said Wix is one of the most popular web development platforms, with over 210 million users. As such, this partnership helps expose this vast user base to the crypto sector, further pushing the industry towards going mainstream.

Pair added that this collaboration would let businesses expand their market quickly and capture incremental sales by tapping into the massive trillion-dollar cryptocurrency marketplace.

According to a 2020 study that BitPay commissioned, businesses that offer a crypto payment option have in most cases witnessed their average order values double because crypto adopters tend to spend more than other customers.

Through BitPay, Wix merchants will get to enjoy perks like low transaction fees, zero chargebacks, and limited fraud. As such, they will be in a position to save a lot of money.

Omer Shatzky, the Head of Billing and Payments at Wix, concluded by saying,