Enables merchants to expand reach to 30 million + crypto wallet users
We are pleased to announce that Crypto.com Pay -- the company’s payment solution for online merchants -- will now accept CRO payments from any ERC-20 wallet. This evolution of Crypto.com Pay will help merchants expand their reach by giving customers more wallet options to spend CRO and increase transaction volume.
There are an estimated 30 million+ ERC-20 wallets across the global crypto industry, a massive potential market for merchants seeking to attract crypto users to their websites. Today’s enhancement of Crypto.com Pay allows merchants to facilitate widespread acceptance of payments from all ERC-20 wallets.
This is a big milestone in CRO utility, and a major step towards widespread adoption of CRO. Now, anyone with an ERC-20 wallet can transact with Crypto.com Pay merchants such as Ledger, BC Vault and Travala.com. Those merchants will benefit from a large customer base using 30M+ ERC-20 wallets, regardless of which wallet customers choose to use.
Since launching in 2018, Crypto.com Pay has helped merchants such as Ledger, Coinzilla, as well as platforms such as WooCommerce and Oveit tap into the global cryptocurrency economy and accept crypto on their website. Crypto.com Pay features zero transaction fees and only 0.5% for settlements - an 80% saving on fees compared to typical payment processors - with low volatility and easy integration for merchants. Merchants interested in offering Crypto.com Pay to their customers can sign up here.
For users, all payments made in CRO are entitled to CRO cashback, known as Pay Rewards, which are collected in the user’s Crypto.com App. Until Sept 30th, 2020, customers paying with wallets other than Crypto.com App can also enjoy the 2X Pay Rewards privilege enjoyed by App users with 10,000 CRO staked in Exchange or with an active 3 Months Earn term, which is up to 10% of Pay Rewards. If the email provided by the customer does not belong to a Crypto.com App account, the Pay Rewards can still be able to be collected if the someone uses that email to sign up at Crypto.com App and verified within 90 days. More details about Pay Rewards can be found here.