Our mission is to make crypto payments accessible to all and today marks a big step towards that goal with the launch of the newly upgraded Solana Pay plugin for Shopify, powered by Helio. This update brings a suite of enhanced features designed to streamline your payment processes, enrich your customer loyalty programs, and integrate seamlessly with your existing Shopify store. Here’s a detailed look at what’s new:

Why Crypto Payments for Merchants?

The adoption of crypto is not just a trend but a burgeoning sector within the technology industry. According to recent studies, there are more than 100M active crypto wallets, funded with ~$3 trillion in wealth and Solana is the fastest growing blockchain amongst them. As decentralised wealth grows, users spend with DeFi payments. As a result, merchant crypto payments volume already stood at ~$4B in 2023 and is forecasted to grow rapidly at a CAGR of 75% in the years to come. This growth is also supported by increasing recognition of blockchain's potential to transform financial transactions in terms of speed, cost, and security. The benefits of transacting in crypto for merchants include:

• Global Reach: Platforms like Helio allow merchants to access a worldwide customer base, especially in regions with limited traditional banking.

• Reduced Charagebacks: Unlike credit card payments that pull funds, crypto payments are push payments, enhancing privacy and reducing chargebacks and fraud.

• Cost Efficiency: DeFi transactions have lower fees by cutting out intermediaries. 

• Payout Speed: DeFi transactions are completed in seconds or minutes, providing instant settlements compared to traditional bank transfers that can take days.

To learn more about the benefits of crypto payments for merchants, read our blog Embracing the Future of Payments

Key Enhancements to the Solana Pay Plugin

Flexible Payment Options

• Multi-Token Payments: Allow buyers to make purchases in SOL or hundreds of other cryptocurrencies with automatic swaps to stablecoins (powered by Jupiter), meaning merchants always receive USDC or another currency of their choice.

• Broader Stablecoin Options: Beyond USDC, you can now settle payments in other stablecoins such as PYUSD, EURC, and USDY.

• Memecoins: Solana is the undisputed leader in memecoins with millions of holders of BONK, WIF, WEN and many others. Solana Pay enables Shopify merchants to tap into these large, active communities by allowing buyers to spend their memecoins in their online stores.

• Cross Chain Payments (Coming Soon): Allow buyers to purchase with Ethereum, BNB and tokens on +10 other blockchains. You always settle on Solana in your preferred stablecoin.

  
  

Improved User Interface and Speed

• Updated Payment UI: The new interface features deep-links into major wallets like Phantom, Solflare, OKX and Coinbase, facilitating quick and easy transactions.

• Lightning Fast Transactions: With 1-second confirmations on the Solana network, your customers will experience seamless and rapid payments.

• Auto Off Ramp: Automatically convert your crypto earnings to fiat and receive it directly to your bank account.

  
  

Advanced Features 

• Loyalty Programs: Boost customer loyalty with cNFT airdrops upon sales, Discord memberships, and discounted payments for NFT holders.

• Exclusive Access: Gate access to your store using any Solana NFT, wallet allowlists, and more, creating an exclusive shopping experience for your valued customers.

• Helio Dashboard: Connect the plug-in to the Helio Dashboard for even more features including split-payments, manage payout wallets, team roles, and more.

• Integrations: Use the Helio API for data integrations in to Google Sheets, accounting systems and more.

  
  

Real World Use Cases 

Over the past 6 months and before this update Solana Pay was already being used by hundreds of Shopify merchants who processed more than $50M in USDC payments. For example, Solana Mobile saved over $1 million in fees using Solana Pay, which is a compelling case for other merchants.

Since testing the new version with new merchants it's clear that these upgraded features are a significant draw for those who were previously hesitant to offer crypto payments. Helium Mobile will allow buyers to purchase WiFi hotspots with $MOBILE, the native token of the Helium ecosystem. STEPN will also enable purchases in their native token, $GMT, while BoDoggos will offer discounts based on customers holding their NFTs. There are plenty of unique and creative uses of these features coming to Shopify stores very soon!

Competitive Pricing

To support continuous innovation and cover operational costs, the upgraded Solana Pay plugin will charge a default fee of 0.75%, which remains competitive compared to traditional payment methods and other crypto payment providers like Coinbase Commerce. Additionally, Helio covers all gas fees on Solana, so buyers do not need to worry about those extra charges.

Next Steps for Integration

New customers and stores will automatically benefit from this upgraded plugin.

Existing customers can upgrade their store or test it on a demo store by installing the new plugin here. You’ll be prompted to set up a new merchant account and we can migrate your existing KYB credentials.

Continued Support

Helio will support your existing plugin installation until the end of Q3 2024. Beyond that, you can continue to access your old merchant account to manage purchase history and refunds.

For additional questions, refer to our documentation, and our support team is ready to assist you. Book a call with a Solana Pay product expert.

Embrace the Future of Payments with Solana Pay 

The integration of Helio’s upgraded Solana Pay plugin into your Shopify store puts you at the forefront of e-commerce. By offering flexible payment options, rapid transaction speeds and cutting edge Web3 features, you can stay ahead of the curve and provide an exceptional shopping experience for your customers. Whether you want to attract crypto savvy customers or reduce your costs, the new Solana Pay plugin has you covered. Install the plugin today and join a new generation of digital commerce!

Start selling more with Solana Pay on Shopify in just 5 minutes:
apps.shopify.com/solana-pay-helio