KuCoin exchange has introduced a KuCoin Pay merchant solution aimed at integrating crypto payments into the retail sector.
KuCoin Pay is a brand-new merchant solution platform that enables contactless and borderless crypto transactions, allowing merchants to accept a variety of cryptocurrencies and stablecoins.
By leveraging KuCoin’s vast infrastructure, which serves over 37 million users globally, the retail payment solution offers reduced transaction fees and immediate settlement for crypto payments. Merchants can integrate KuCoin Pay into their existing payment systems so that their customers may buy things with crypto by both scanning a QR code and using the KuCoin app.
This integration significantly simplifies the checkout process and promotes wider crypto adoption. As the global statistics show, private cryptocurrencies and stablecoins are used for a tiny fraction – less than 0.2% – of global e-commerce transaction value. Retailers looking to adopt cryptocurrency face several challenges. Nearly 90% cite the difficulty of modifying their existing financial systems to accommodate different digital currencies as the primary obstacle. Additionally, the associated costs can be prohibitively high. Therefore, KuCoin Pay is set to create fresh opportunities for merchants and users to succeed in the rapidly changing digital economy.
KuCoin Pay aims to lower transaction costs and enable instant settlement of cryptocurrency payments both online and offline, streamlining transaction management for businesses. The platform accommodates a wide variety of cryptocurrencies (over 50 digital assets) and blockchain networks, greatly enhancing the global accessibility of payments. It enables not only routine retail purchases but also mobile top-ups of numerous service providers. Besides, its mini-program solution empowers businesses to develop in-app experiences, facilitating direct engagement and promotion to millions of users.
KuCoin cryptocurrency exchange offers a wide variety of cryptocurrencies and trading pairs. It is also known for its user-friendly platform and competitive fees, which can be further reduced through the use of KuCoin Shares (KCS).
