Today, DePay has announced the integration of its wallet-to-wallet (P2P) web3 payment solution for qualifying Shopify retailers. It is the very first integration from DePay for its web3 P2P payment solution. Its multichain Web3 payments solution will enable businesses to accept any preferred tokens in incoming payments through real-time blockchain-based asset conversion.
DePay 🤝 Shopify
We are very proud and excited to announce our official payment gateway for @Shopify merchants!
DePay is a #Web3 payment gateway that allows Shopify merchants to accept P2P payments with on-the-fly token conversion. 🙌💸🛍️
More: https://t.co/xe4P0hcQTT pic.twitter.com/kMvuF03Mqb
— DePay (@DePayFi) June 2, 2022
DePay and its Web3 P2P payment solution
DePay is a Swiss-based Web3 payment company and it aims for a radical shift by creating a new model by utilising decentralised finance (DeFi) to enable any-to-anything payment conversions. DePay is a pioneer of Web3 Payments with the use of DeFi.
It drives the broad adoption of blockchain-based payments by combining the essential concepts of decentralisation and interoperability with cutting-edge Web3 technology. The company has plans for expanding the supported blockchain networks in order to enable all major blockchains and Layer-2 solutions in the near future.
How the integration will benefit the retailers?
With the multichain web3 payment solution the retailers will be able to get a real-time Cashflow. The received payments will be cleared and made accessible to merchants in real-time. The technology will also enable users to automatic conversion of received payments into stablecoins. The use of DeFi by Depay in the payment service has increased the acceptance of tokens by a factor of hundred,
Current crypto payment system decentralised technology inside centralised institutions
Blockchain transactions are essentially peer-to-peer and decentralised. The majority of today’s well-established Crypto Payment systems handle wallets for their consumers, incorporating decentralised technology inside centralised institutions. As a result, purchasers pay intermediaries who credit the merchant’s account.
On the announcement, Sebastian Pape, DePay’s founder stated that it’s incredible to be at the forefront of bringing the overall Web3 business to the next level. He further stated the followings:
“Our expanding blockchain ecosystem highlights our dedication to assisting businesses with alternate payment options on their storefronts, so expanding what is possible in commerce. Shopify was our most ambitious integration goal to date.”
Ashley Fulks, Product Partner Manager at Shopify stated the followings:
“We’re excited to welcome DePay as the first wallet-to-wallet (P2W) payment solution integration for Shopify businesses.”
Crypto payment acceptance
The overall expansion of e-commerce has accelerated the use of crypto payment. According to a recent poll, 40% of 18 to 35-year people are eager to pay using cryptocurrency. Even Governments are now planning their own cryptocurrencies by launching their own central bank digital currencies (CBDCs).
 web3 payment solution for qualifying Shopify retailers.){kind=link}