BigCommerce (Nasdaq: BIGC), an open SaaS e-commerce platform for fast-growing and established B2C and B2B brands, has announced a strategic partnership with cryptocurrency organisations, BitPay and CoinPayments to easily and securely deliver cryptocurrency payment solutions to BigCommerce Enterprise merchants in select countries.
By expanding its crypto ecosystem, BigCommerce opens up opportunities for its merchants to offer more payment options, broaden market share, tap into a new customer base and accelerate international growth through innovation.
“Expanding our crypto ecosystem to include trusted best-of-breed partners is just one step towards driving innovation and growth for our merchants,” said Marc Ostryniec, chief sales officer at BigCommerce. “A new era of consumers are passionate about transacting using crypto, and we’re helping them do it. Merchants embracing this new technology can remain relevant and maintain a cutting edge as the world of payments continues to shift to digital currency.”
BigCommerce’s open, flexible approach to e-commerce means merchants can choose which cryptocurrency payment solutions work best in their BigCommerce store. With single-click integration, merchants can begin offering cryptocurrency as another payment method for shoppers looking to spend their cryptocurrency.
With BitPay, merchants can accept a variety of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Bitcoin Cash (BCH), Shiba Inu (SHIB), Wrapped Bitcoin (WBTC), Litecoin (LTC), XRP (XRP) and 5 USD-pegged stablecoins (BUSD, DAI, GUSD, USDC, and USDP). Having pioneered blockchain payment technology, BitPay has processed more than $5billion in payments volumes since 2011, and supports over 100 crypto wallets.
“Accepting cryptocurrency can be intimidating and complex with, at times, a learning curve. We’ve teamed with BigCommerce to help minimise the lift for merchants to add crypto as a payment option alongside their existing payment methods in just a few clicks,” said BitPay CEO Stephen Pair. “Our strategic partnership and integration with BigCommerce moves crypto into the mainstream and supports a different future for payments to transform how merchants receive money around the world.”
With over 115,000 merchants across 190 countries around the world, CoinPayments is a crypto payment gateway giving merchants the ability to accept real-time global payments from over 100 cryptocurrencies including Bitcoin, Ethereum and Litecoin with a low processing fee of 0.5 per cent.
“Amidst an increase in demand worldwide for alternative payment solutions, our partnership with BigCommerce provides merchants of all sizes with a trusted, streamlined, and scalable solution to accept cryptocurrency payments,” said Kalin Kalinov, chief marketing officer of CoinPayments. “With an ever-increasing number of crypto holders worldwide, we look forward to teaming with BigCommerce to give their merchants a unique opportunity to reach new audiences and expand their business.”
BigCommerce’s crypto ecosystem strives to provide industry-leading crypto technologies to its tens of thousands of global B2C and B2B BigCommerce merchants to keep them viable and sustainable as currencies around the world evolve. Key benefits of this partnership include:
- Reach Broader Markets. By offering cryptocurrency as a payment method, merchants can open their brands to an entirely new global market to develop trust and loyalty with forward-thinking consumers across a range of retail categories.
- Lower Transactions Fees. With crypto transactions, fees are often much lower than traditional financing, reducing transaction costs for merchants and putting the savings back into the business.
- Reduce Risk. Blockchain technology is built with security first, lessening issues related to fraudulent buyer activity. With merchants having full control of all funds held in their store wallets, they are protected from reverse chargebacks once those funds are received.
- More Payment Options. By expanding payment options to choose from, merchants are able to streamline the purchase path to enhance the shopper experience.
- Innovation. By accepting cryptocurrencies, merchants gain a competitive edge by moving with technological advances in ecommerce and changing consumer demands.
BigCommerce’s growing crypto ecosystem is currently composed of tech partners BitPay and CoinPayments and will continue to expand.