We currently own a IP built via our NFT project. The community has built strong and there are many founders produce & sell merches in their Shopify store with our IP. Many of them wish to support payment via our own crypto currency. As the team, we wish to learn the review process to implement such payment service and make it as a public payment app.
P.s.: I checked current review process doc, and looks like it’s more focused on fiat / credit card payment.
Appreciate for any help.
To implement cryptocurrency payments in your Shopify store, you can follow these general steps:
Choose a Cryptocurrency: Decide which cryptocurrency you want to accept. Ensure it has the necessary infrastructure, community support, and liquidity.
Select a Payment Processor: Choose a payment processor that supports cryptocurrency payments and integrates with Shopify. Some popular options include Coinbase Commerce, BitPay, and CoinPayments.
Set up Wallet and API: Create a wallet for receiving cryptocurrency payments and generate API keys provided by your chosen payment processor.
Integrate with Shopify: Install the payment processor’s Shopify app and follow the instructions to connect your cryptocurrency wallet and configure payment settings.
Test Transactions: Conduct test transactions to ensure the payment process works smoothly and securely.
Launch and Promote: Once everything is set up and tested, launch the cryptocurrency payment option on your Shopify store. Promote it to your community and customers.
Compliance and Legal Considerations: Be aware of any legal and regulatory requirements related to cryptocurrency transactions in your jurisdiction. Ensure compliance with tax laws and regulations.
Customer Support: Provide clear instructions and support for customers who wish to pay using cryptocurrency. Address any issues or questions promptly.
While Shopify’s documentation may focus more on fiat and credit card payments, you can still implement cryptocurrency payments by integrating a third-party payment processor as outlined above. Always stay informed about changes in cryptocurrency regulations and industry best practices.
Regarding the review process for publishing a cryptocurrency-based payment app, it typically involves thorough scrutiny to ensure compliance with regulatory standards and security protocols.
From code audits to legal assessments, each step aims to safeguard users’ funds and data. Additionally, integrating stablecoins like those featured on https://stakingy.com/stablecoins can enhance the app’s stability and utility, offering users a reliable means of transacting within the volatile crypto landscape. I recommend checking out the platform for comprehensive insights into stablecoin options, which could streamline the development and functionality of your payment app.
Stripe’s Pay with Crypto is available now with this solution. It supports USDC and USDP.
Thanks!!!