Swiss Web3 payment startup DePay brings Web3 P2P payment gateway to eligible Shopify merchants

The mechanism of blockchain transactions is inherently peer-to-peer and decentralized. Nevertheless, most of today's established Crypto Payment solutions manage wallets for their customers, embedding a decentralized technology into centralized structures. As a result, the buyers pay middlemen who credit the merchant's account. Aiming for a paradigm shift, DePay establishes a new model by using decentralized finance (DeFi) to enable any-to-anything payment conversions.

Ashley Fulks, Product Partner Manager, Shopify: "We're happy to welcome DePay to provide the very first integration of a wallet-to-wallet (P2P) payment solution for Shopify merchants. Our growing blockchain ecosystem demonstrates our commitment to supporting merchants with alternative payment methods on their storefronts, helping to further expand what's possible in commerce."

Sebastian Pape, Founder, DePay: "Shopify was our biggest integration target to date. It's amazing to be at the forefront of pushing the entire Web3 industry forward."

The benefits for merchants include:

• Instant Cashflow: Received payments are settled and available for the merchants in real-time.
• Automatic Conversion: Tokens are automatically converted (e.g. to stablecoins) as part of the payment transaction.
• Unmatched token acceptance: By using DeFi, DePay grows the amount of accepted tokens by a hundredfold.

DePay will continue to drive the expansion of supported blockchain networks in order to unlock all major blockchains and Layer-2 solutions in near future.

In addition to the overall growth of ecommerce, the adoption of cryptocurrency payments is also advancing rapidly. Recently, a study found that 40% of 18- to 35-year-olds are willing to pay with crypto. Governments are also starting to engage through the planned development of their own "central bank digital currencies" (CBDCs).

www.depay.fi