BitPay, the world’s largest provider of blockchain payment services, and Wix (Nasdaq: WIX), a leading global SaaS platform to create, manage and grow an online presence, today announced the addition of BitPay’s Bitcoin and cryptocurrency payment processing as a new payment option on the Wix eCommerce platform. BitPay’s blockchain payment rails integrate seamlessly with Wix’s eCommerce platform allowing Wix merchants to offer Bitcoin and other cryptocurrency payment options to their customers.
The BitPay and Wix integration allows Wix eCommerce customers to accept crypto payments through BitPay on their Wix hosted websites. Consumers can pay using 12 different cryptocurrencies. BitPay currently supports, including Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Wrapped Bitcoin (WBTC), XRP (in certain countries) and 5 USD-pegged stable coins (BUSD, DAI, GUSD, USDP, and USDC). The total market cap of these accepted cryptocurrencies exceeds $1.4 trillion, accounting for nearly 70% of the global crypto market cap (as of October 4th, 2021).
“Wix is one of the largest and most widely used web development platforms with over 210 million users, so this is another step forward in moving cryptocurrency mainstream,” said Stephen Pair, BitPay CEO. “Businesses can get to market quickly and capture incremental sales by tapping into the massive trillion-dollar cryptocurrency marketplace.”
The integration provides Wix eCommerce merchants the opportunity to grow sales by attracting first-time buyers who prefer to pay with Bitcoin or other cryptocurrencies. According to a study by Forrester Consulting commissioned by BitPay, merchants offering a crypto payment option often see a 2x increase in average order values as buyers who pay with cryptocurrency tend to spend more than other customers. BitPay transaction fees are lower than those of other traditional payment types, eliminating chargebacks and limiting potential fraud, enabling those who accept cryptocurrency payments significant savings.
“We’re continuing to integrate with innovative payment partners to offer Wix merchants even more payment options to offer their customers,” said Omer Shatzky, Head of Billing and Payments at Wix. “With BitPay, Wix merchants have access to a whole new market of customers who prefer to pay with Bitcoin and other cryptocurrencies and an avenue for their business to tap into the growing cryptocurrency market.”
In the first stage the service will be available to Wix merchants and customers in the US, UK, Brazil, Australia, Canada and Germany. Wix merchants can start accepting crypto payments today by just clicking BitPay in their dashboard settings and then creating an account with BitPay. No integration is required and the BitPay processing fee is only 1%.
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