Cryptocurrencies are becoming increasingly prevalent in e-commerce as major retailers begin to incorporate them into their payment systems. This article discusses how stablecoins help address the issue of high fees and expedite transactions.
The Issue of High Transaction Fees
Payments have long been an unseen factor that increases costs in e-commerce. Credit cards and electronic payments like PayPal often impose 2-3% fees on each transaction, which becomes a hidden tax for businesses.
Shopify Launches USDC Payment Testing
Shopify was the first among e-commerce platforms to roll out a USDC payment feature in partnership with Coinbase. Users can pay for purchases in cryptocurrency, while business owners automatically receive the equivalent in fiat currency.
Interest of Major Retailers in Stablecoins
Retailers like Walmart and Amazon are also considering launching their own stablecoins as a way to reduce transaction costs and speed up settlements. These steps are part of a strategy aimed at attracting customers who prefer crypto payments.
The increase in payments using stablecoins indicates a transformation of the payments landscape. E-commerce giants are beginning to adapt to new realities, which may signify important changes in the future.
