decrypt.co
We do the research, you get the alpha!
Decrypt’s Art, Fashion, and Entertainment Hub.
Discover SCENE
Crypto payments platform Helio on Thursday announced a significant update to its Solana Pay plugin for Shopify, opening the door for millions of Shopify merchants to accept payments in hundreds of cryptocurrencies.
The update encompasses enhanced features for broader token support, improved loyalty programs, and seamless integration, expanding the capabilities of the Solana-based payments service.
In an interview with Decrypt, Helio CEO and co-founder Stijn Paumen said the ultimate power of Solana Pay is super-fast payments secured by the blockchain and settled directly between merchant and buyer—and that funds are never held by Helio or anyone else.
“This allows merchants to bypass traditional payment intermediaries such as banks and card issuers, solving persistent e-commerce problems like high fees, chargeback rates, and slow payouts,” he said.
First launched last year, Helio’s Solana Pay plugin enables Shopify merchants to accept low-fee cryptocurrency payments. In the first six months, the initial version processed approximately $50 million in transactions for over 200 stores, saving merchants over $1 million in fees.
“If we can migrate 10% of e-commerce payments to the blockchain over the next 10 years, we’ll save an estimated $500 billion in costs for more than 25 million websites that sell online,” Paumen added.
The upgraded plugin adds further Web3 functionality for Shopify users including NFT airdrops and token-gated features that are exclusive to NFT holders. Paumen said that his firm has seen “extremely positive” feedback from such features, with crypto phone service Helium Mobile and move-to-earn game Stepn among those already using the functionality.
“This move marks a significant step in the crypto industry's evolution towards greater accessibility for everyday users, making it easier than ever for people to engage with digital assets in their daily lives,” said Helium Mobile COO Frank Mong in a release.
The new features to enhance customer loyalty programs and integrate Web3 functionalities are expected to drive adoption among Shopify merchants. To further support merchants, the plugin includes auto-conversions to stablecoins, removing the volatility risk traditionally associated with cryptocurrencies like Bitcoin or Ethereum.
“A consumer can purchase a store item in SOL or BONK while the merchant always receives a digital dollar,” Paumen said. “USDC payouts can also be converted automatically to fiat and sent to the merchant’s bank account.”
This feature is expected to attract merchants previously hesitant to offer crypto payments, he noted.
The upgraded plugin also introduces a transaction fee of 0.75%, lower than that of traditional payment methods.
“By removing the intermediaries, blockchain payments inherently offer merchants several advantages over traditional methods, including instant payouts, elimination of chargebacks, and global accessibility,” said Paumen.
"But honestly, these benefits are common across many crypto payment platforms,” he added. “The real challenge lies in making these benefits accessible and user-friendly to everyone."
Looking ahead, Helio is already working on new features like cross-chain payments to meet customers' needs.
"We will offer buyers the flexibility of paying on Bitcoin, Ethereum, and more whilst merchants still settle on Solana," Paumen revealed.
Edited by Andrew Hayward