The ‘Email Moment’ for Online Payments (Which Could Kill Visa and Mastercard)

TL;DR

Solana Pay permits retailers to simply accept stablecoin funds in USDC, for a flat price of $0.00025.

Not solely is Solana Pay quicker, however – GET THIS – it’s additionally 46,200x cheaper when processing a $1000 buy.

Crypto funds, like USDC by way of Solana Pay, make it doable for large identify retailers like Amazon to save lots of billions per 12 months in charges.

Full Story

Altering the velocity and value of a services or products can have a large affect on an trade – or hell, the world!

Simply take a look at the transition we’ve all made prior to now 30-odd years, as we moved from paper mail (sluggish and dear) to electronic mail (free and prompt).

…okay, what does this should do with crypto?

Solana Pay is coming to Shopify and permitting thousands and thousands of companies to make use of crypto as a cost technique.

Which is a method larger deal than it could first seem!

(This may very well be the ‘electronic mail second’ for on-line funds)

Right here’s why:

Solana Pay permits retailers to simply accept stablecoin funds in USDC, for a flat price of $0.00025.

Okay, so retailers save a couple of cents in charges? Boooring!

True…funds are a nap fest at first look, however verify this out…

Let’s examine every system on a per-transaction foundation, utilizing the bottom card charges out there:

Mastercard Price: 1.15% + $0.05 fee (some go as excessive as 3.5% + $0.30) Pace: 3 enterprise days earlier than it’s in your account.

Vs.

Solana Pay Price: $0.00025 Pace: a couple of seconds earlier than it’s in your account.

This is what that appears like IRL:

$10 transaction Card (1.15% + $0.05) = $0.165 price Solana Pay (+ $0.00025) = $0.00025 price

$100 transaction Card (1.15% + $0.05) = $1.20 price Solana Pay (+ $0.00025) = $0.00025 price

$1000 transaction Card (1.15% + $0.05) = $11.55 price Solana Pay (+ $0.00025) = $0.00025 price

So not solely is Solana Pay quicker, however – GET THIS – it’s additionally 46,200x cheaper when processing a $1000 buy.

And for this reason crypto cost integrations will prolong far past Shopify retailers, in time.

For instance:

Amazon made ~$514B in 2022, which implies in the event that they had been paying the 1.5% trade common for card charges, they’d have needed to have forked out $7.71B between Mastercard and Visa.

Crypto funds, like USDC by way of Solana Pay, make it doable for large identify retailers like Amazon to save lots of billions per 12 months in charges.

…Visa and Mastercard higher watch their backs (see gif ☝️).