CUDOs has announced a major partnership with the crypto payment gateway, NOWPayments, allowing the company to expand its presence on e-commerce giant Shopify and e-commerce plugin platform, WooCommerce, and providing CUDOS with access to 50% of the e-commerce market.
NOWPayments is a crypto payment gateway that allows everyone to accept crypto payments on their websites, online stores, and social media accounts.
It is a non-custodial service that does not hold or store your funds. NOWPayments offers low transaction fees and supports more than 150 cryptocurrencies, and offers low transaction fees.
The adoption of the native CUDOS token continues to grow, following CUDOS’ partnership with Shopping.io last year, which enabled users to pay with CUDOS for their purchases from Amazon and eBay across eleven markets.
It is a giant leap for the CUDOS network to expand the reach of the token to millions of buyers and e-commerce merchants worldwide.
With CUDOS integrated as a payment option on NOWPayments, consumers using Shopify and WooCommerce will have an additional crypto payment option, alongside fiat currency.
“We are adding another utility to our CUDOS token through our partnership with NOWPayments,” commented Nuno Pereira, Vice President of Partnerships at Cudos.
“Users can earn CUDOS through our monetisation apps and spend their earnings for purchases on Shopify and WooCommerce.
“We aim to make the CUDOS token more accessible by unlocking newer payment avenues and benefit our token holders. Joining hands with NOWPayments allows us to bridge crypto with retail.”
NOWPayments is a crypto payment gateway that allows everyone to accept crypto payments on websites, online stores, and social media accounts. It also offers a mass payments solution, crypto donation tools and supports fiat conversion.
Regardless of the type of crypto currency customers use, merchants can accept the payment in the one they prefer, as NOWPayments does automatic conversions.
Consumers are still adapting to making payments using crypto, however more retailers accepting payments will accelerate adoption.
For context, global crypto adoption has grown by over 2300% since Q3 2019 and over 881% in the last year, according to a Chainalysis report.
Interestingly, over 80% of merchant services transfers are small retail transactions, making the case for CUDOS’ mass adoption even stronger.
As crypto transactions take place on a peer-to-peer network, businesses incur lower transaction fees. With the recent Cudos blockchain launch, the Cudos network can now complete low-cost native transactions in seconds.