Millions of businesses and consumers now have
easy access to decentralized payments on
Solana
SAN
FRANCISCO, Aug. 23, 2023 /PRNewswire/ --
Solana Pay, a decentralized,
open-source, peer-to-peer payments protocol built on Solana by
Solana Labs, is now available to
millions of businesses as an approved app integration with Shopify
Inc. (NYSE, TSX: SHOP), the leading global commerce company that
provides essential internet infrastructure for
commerce.
Solana Pay makes it easy for merchants to get
real-time access to their money and greater ability to manage
working capital, liquidity, and liability protection. With no
intermediary, Solana Pay eliminates bank fees,
chargebacks, and holding times while enabling immediate, direct
payment settlement of USD stablecoins compatible with
Solana.
"Solana Pay on Shopify opens up millions of
merchants to a more dynamic and efficient payment choice, while
consumers get the convenience and increased utility of being able
to pay for goods and services with digital dollar currencies from
the vast network of merchants using Shopify," said Josh Fried, Head of Commerce Business
Development, Solana Foundation.
An extra benefit for merchants and consumers of using
Solana Pay: Payments become a gateway for web3-enabled
commerce experiences, including token-gated offers, simple
cross-border payments, and NFT-based loyalty programs.
Solana Pay is an open-source protocol built on the
decentralized Solana network.
Solana's high transaction speeds, near-zero fees, and
sustainability make it an ideal choice for scaling web3 payments
while also providing a great user experience.
Several brands currently active on Solana have
already committed to making Solana Pay a payment
option in their Shopify-powered storefronts, seeing the opportunity
of providing a web3-native payment option for their web3-savvy
customers: MonkeDAO, MadLads, Helius, and Solana's
merch store.
Merchants who want to implement Solana Pay in their
Shopify storefront can go to http://solanapay.com/ to learn
more.
About Solana
Solana is a
blockchain built for mass adoption. It's a high performance network
that is utilized for a range of use cases, including finance, NFTs,
payments, and gaming. Solana operates as a single
global state machine, and is open, interoperable and
decentralized. For more information, please visit
https://solana.com.
About Solana Labs
Solana
Labs is a technology company, a developer of web3 projects, a
creator of open-source software, and the author and publisher of a
Solana validator client. Solana Labs is
based in San Francisco. For more
information, please visit https://solanalabs.com/.
About Solana Foundation
The
Solana Foundation is a non-profit foundation based in
Zug, Switzerland, dedicated to the
decentralization, adoption, and security of the Solana
network. For more information, please visit
https://solana.org/
Media Contact
press@solana.com
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SOURCE Solana Labs