Payment provider Shift4 gave merchants around the world the ability to accept cryptocurrencies within e-commerce and through POS terminals. The integration of the Pay with Crypto solution will be done in phases.
Shift4, a leader in integrated payments and commerce technology, announced the launch of Pay with Crypto, a feature that enables merchants to accept cryptocurrency at POS and through online platforms.
Shift4 is a U.S. company that specializes in providing integrated payment processing and merchant management solutions. The company serves over 200,000 businesses worldwide, including restaurants, hotels, stadiums, and amusement parks, providing them with convenient and secure transaction solutions. Shift4 processes more than 5 billion transactions valued at over $260 billion annually.
According to Jared Isaacman, CEO of Shift4, the initiative is designed not only to support a new era of commerce based on the growing popularity of crypto payments but also to establish the company as a leader in integrated payments.
Alex Wilson, Head of Crypto at Shift4, noted that the Pay with Crypto functionality is extremely easy to use, comparing the product to credit and debit cards. He also noted that merchants don’t have to worry about the technical aspects of working with digital assets or setting up crypto wallets, as they don’t have to interact directly with crypto.
Cryptocurrency payments are automatically converted to U.S. dollars and credited to merchants’ accounts. Supported cryptocurrencies include BTC, ETH, SOL, USDC, and other stablecoins. The feature will be rolled out in phases across Shift4’s various products and services. To develop the new product, Shift4 combined its global payments capabilities with the development of Mesh, which will provide secure communication between wallets and exchanges in the cryptocurrency conversion process.
According to Max Krupyshev, CEO of CryptoProcessing.com, modern payment services allow merchants to accept crypto without ever coming into contact with it. He also noted that with the help of automatic conversion, crypto processing clients can receive a predetermined fixed amount in fiat to their accounts without worrying about exchange rate volatility.
In 2022, Shift4 acquired The Giving Block, a platform for cryptocurrency donations to non-profit organizations. Read more about crypto payments for charity in a special article by CP Media.
