Gate News bot news, Shopify is launching support for USDC payments, allowing consumers to pay with stablecoins through Shopify Payments and Shop Pay.
This feature is launched on the Base blockchain, starting with an early experience this week, and will expand to more merchants in the coming months.
According to Shopify CEO Tobi Lütke, this integration is supported by a brand new smart contract payment protocol designed specifically for e-commerce.
The system allows customers to pay using Circle stablecoin USDC, while merchants by default receive payments in the local fiat currency unless they choose to retain USDC directly.
Stripe supports backend integration, helping Shopify abstract the complexity of cryptocurrency payments from the merchant experience. Lütke also pointed out that the platform will support buyer incentives in the future, such as a 1% cash back on USDC transactions.
Source: CryptoSlate
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