Solana has delivered its scaled version of Solana Pay plugin, boosted by Helio and targeting Shopify, with added features for more convenient processing of payments. Over and above that, is the introduction of attractive loyalty schemes, along with a simplified way of connecting with one’s Shopify outlet.
The utilization of crypto is catching on with accelerated results. As per data available, there are presently over 100 million crypto wallets containing an enormous amount of assets, with Solana topping the list. With the increase of decentralized assets, users utilize DeFi as a means of making payments. Owing to this, the amount of retail crypto payments reached the figure of $4 billion last year, with the anticipation of a further increase of 75% in the very near future. In this scenario, blockchain has a major role to play, with its transactions providing added acceleration, as well as safety factors and lower costs.
There are several advantages included with crypto-based transactions, such as covering the international space, along with the cost-effective aspect.
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The Solana Pay plugin comes with certain advantageous advancements, which include multi-payment methods, enabling purchasers the use SOL for making payments, along with an entire array of other cryptocurrencies and having the function of default swaps with every stablecoin like USDC, as well as PYUSD, EURC, USDY and a whole lot more.
Added to that is the enhanced user interface and acceleration, which includes up-to-date payment UPI, connecting with prime wallets, which include Phantom, along with Solflare, OKX, and Coinbase, resulting in a fast and a convenient way of carrying out transactions. In the case of acceleration, the requirement is for less than a second, in terms of confirmations on the Solana network. There is also the auto off-ramp which by default, transforms crypto into fiat.
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There are some further features thrown in for added benefits, such as loyalty-based schemes, along with connectivity with the store, the Helio dashboard, and the option for incorporating data.
