This partnership allows Wix merchants to accept cryptocurrency payments via a simple plugin, without worrying about holding or converting digital currencies. Merchants will get the opportunity to increase their retail reach and sales revenues by attracting buyers who wish to pay in cryptocurrencies. The burgeoning adoption of crypto has placed it in the spotlight of payments. A recent survey revealed that most respondents believe accepting cryptocurrency payments would give companies a competitive edge. Another study showed that 60% of responding crypto owners indicated interest in using crypto as a payment method to make online purchases more private or secure.
With this integration, Wix merchants can accept payments across the major cryptocurrencies used for commercial transactions, including:
● Bitcoin (BTC)
● Bitcoin Lightning (LBTC)
● Ethereum (ETH)
● USD Coin (USDC)
● Tether (USDT), on both ERC-20 & TRC-20 networks
These supported cryptocurrencies have a total market capitalisation that exceeds $700 billion, accounting for over 70% of the global crypto market cap (as of Aug 22, 2022). (Source: CoinMarketCap)
“Wix is always looking for new partnerships to bring more value to our merchants,” said Amit Sagiv and Volodymyr Tsukur, Co-Heads of Wix Payments. “We’re continuing to expand our crypto footprint and with Triple-A’s solutions as an additional provider, Wix merchants have more payment options to offer their customers. This allows them to reach a whole new market of customers who prefer to pay with Bitcoin and other popular cryptocurrencies such as Ethereum.”
Triple-A’s transaction fees are generally lower than traditional payment gateways. Without chargebacks, crypto payments also protect businesses from potential fraud, enabling merchants who accept cryptocurrency payments significant savings and reduced risk. “Merchants using Wix can now go to market with this new payment option easily, and increase their revenues by tapping into the spending power of 300+ million crypto users globally,” Eric Barbier, CEO of Triple-A, shares. “Business owners get to enjoy the benefits of cryptocurrency payments, without having to worry about price volatility or regulations that come with holding digital assets.”
The first phase of launch has now gone live for Wix merchants in the United States, United Kingdom, Brazil, Australia, Canada, and Singapore.