BigCommerce Expands Crypto Ecosystem with BitPay and CoinPayments, Further Driving Merchant Growth and Innovation

Rhea-AI Summary

BigCommerce (Nasdaq: BIGC) has announced strategic partnerships with BitPay and CoinPayments to integrate cryptocurrency payment solutions for its merchants. This initiative aims to enhance the merchants' competitive edge, enabling them to accept various cryptocurrencies including Bitcoin and Ethereum, and reach a broader global market. The partnerships focus on reducing transaction costs and improving security via blockchain technology, while providing flexibility in payment options. The move comes amid an increasing demand for alternative payment methods worldwide.

Positive

• Strategic partnerships with BitPay and CoinPayments enhance payment options for merchants.
• Integration allows merchants to accept a range of cryptocurrencies, tapping into new customer bases.
• Lower transaction fees compared to traditional payment methods can benefit merchants financially.
• Partnerships improve security through blockchain technology, reducing fraud risk.

Negative

• None.

New strategic partnerships uplevel merchants’ competitive advantage to offer crypto payment methods, reach broader markets and attract new customers worldwide

AUSTIN, Texas--(BUSINESS WIRE)-- BigCommerce (Nasdaq: BIGC), a leading Open SaaS ecommerce platform for fast-growing and established B2C and B2B brands, today announced a strategic partnership with cryptocurrency leaders BitPay and CoinPayments to easily and securely deliver cryptocurrency payment solutions to BigCommerce merchants in select countries. By expanding its crypto ecosystem, BigCommerce opens up opportunities for its merchants to offer payment options, broaden market share, tap into a new customer base and accelerate international growth through innovation.

“Expanding our crypto ecosystem to include trusted best-of-breed partners is just one step towards driving innovation and growth for our merchants,” said Marc Ostryniec, chief sales officer at BigCommerce. “A new era of consumers are passionate about transacting using crypto, and we’re helping them do it. Merchants embracing this new technology can remain relevant and maintain a cutting edge as the world of payments continues to shift to digital currency.”

BigCommerce’s open, flexible approach to ecommerce means merchants can choose which cryptocurrency payment solutions work best in their BigCommerce store. With single-click integration, merchants can begin offering cryptocurrency as another payment method for shoppers looking to spend their cryptocurrency.

With BitPay, merchants can accept a variety of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Bitcoin Cash (BCH), Shiba Inu (SHIB), Wrapped Bitcoin (WBTC), Litecoin (LTC), XRP (XRP) and 5 USD-pegged stablecoins (BUSD, DAI, GUSD, USDC, and USDP). Having pioneered blockchain payment technology, BitPay has processed more than $5 billion in payments volumes since 2011, and supports over 100 crypto wallets.

“Accepting cryptocurrency can be intimidating and complex with, at times, a learning curve. We’ve teamed with BigCommerce to help minimize the lift for merchants to add crypto as a payment option alongside their existing payment methods in just a few clicks,” said BitPay CEO Stephen Pair. “Our strategic partnership and integration with BigCommerce moves crypto into the mainstream and supports a different future for payments to transform how merchants receive money around the world.”

With over 115,000 merchants across 190 countries around the world, CoinPayments is a crypto payment gateway giving merchants the ability to accept real-time global payments from over 100 cryptocurrencies including Bitcoin, Ethereum and Litecoin with a low processing fee of 0.5%.

“Amidst an increase in demand worldwide for alternative payment solutions, our partnership with BigCommerce provides merchants of all sizes with a trusted, streamlined, and scalable solution to accept cryptocurrency payments,” said Kalin Kalinov, chief marketing officer of CoinPayments. "With an ever-increasing number of crypto holders worldwide, we look forward to teaming with BigCommerce to give their merchants a unique opportunity to reach new audiences and expand their business.”

BigCommerce’s crypto ecosystem strives to provide industry-leading crypto technologies to its tens of thousands of global B2C and B2B BigCommerce merchants to keep them viable and sustainable as currencies around the world evolve. Key benefits of this partnership include:

• Reach Broader Markets. By offering cryptocurrency as a payment method, merchants can open their brands to an entirely new global market to develop trust and loyalty with forward-thinking consumers across a range of retail categories.
• Lower Transactions Fees. With crypto transactions, fees are often much lower than traditional financing, reducing transaction costs for merchants and putting the savings back into the business.
• Reduce Risk. Blockchain technology is built with security first, lessening issues related to fraudulent buyer activity. With merchants having full control of all funds held in their store wallets, they are protected from reverse chargebacks once those funds are received.
• More Payment Options. By expanding payment options to choose from, merchants are able to streamline the purchase path to enhance the shopper experience.
• Innovation. By accepting cryptocurrencies, merchants gain a competitive edge by moving with technological advances in ecommerce and changing consumer demands.

BigCommerce’s growing crypto ecosystem is currently composed of tech partners BitPay and CoinPayments and will continue to expand.

To learn more about BigCommerce’s cryptocurrency solutions in your regions: US merchants click here, EMEA merchants read more here and APAC merchants visit here.

About BigCommerce

BigCommerce (Nasdaq: BIGC) is a leading open software-as-a-service (SaaS) ecommerce platform that empowers merchants of all sizes to build, innovate and grow their businesses online. BigCommerce provides merchants sophisticated enterprise-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries use BigCommerce to create beautiful, engaging online stores, including Ben & Jerry’s, Molton Brown, S.C. Johnson, Skullcandy, Solo Stove and Vodafone. Headquartered in Austin, BigCommerce has offices in London, Kyiv, San Francisco, and Sydney. For more information, please visit www.bigcommerce.com or follow us on Twitter, LinkedIn, Instagram and Facebook.

BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220915005042/en/

Dana Marruffo

dana.marruffo@bigcommerce.com

Source: BigCommerce

FAQ

What is the significance of BigCommerce's new partnerships with BitPay and CoinPayments?

The partnerships allow BigCommerce's merchants to accept cryptocurrency payments, expanding their market reach and reducing transaction fees.

What cryptocurrencies can BigCommerce merchants accept through these partnerships?

Merchants can accept Bitcoin, Ethereum, Dogecoin, and various stablecoins via BitPay and CoinPayments.

How do the partnerships with BitPay and CoinPayments impact BigCommerce merchants?

These partnerships provide BigCommerce merchants with more payment options, potentially lower transaction fees, and increased security from fraudulent activity.

What advantages does the cryptocurrency payment integration offer to BigCommerce merchants?

The integration offers the ability to reach new global markets, lower transaction costs, and enhance the shopping experience for consumers.