With El Salvador recently becoming the first country in the world to accept cryptocurrency as a national currency, the form of payment is becoming increasingly mainstream – and now Major Tom is also hopping aboard, with the agency helping clients integrate crypto payment systems into their Shopify stores.
“We’re seeing big brands [like] Starbucks, Coca-Cola, Expedia and Lush adopt crypto payments and we’re educating others in the ecommerce market on why they need to be considering this additional payment offer,” says Victoria Samways, Major Tom’s marketing and brand manager (pictured left, beside Chris Breikss, co-founder of Major Tom)
Samways tells strategy that with everything currently happening in the crypto space, she believes alternative payment systems are a not-so-far away future trend.
“We also implemented it on our own Shopify site first as clients can be a bit wary about new technology until they see it in action and can see what the front and backend looks like,” she adds.
Last year, the shop announced its own cryptocurrency capabilities on Tin Can, an online store where Major Tom offers web-based services for clients and which follows the lead of major companies such as PayPal and Microsoft.
According to the agency, businesses that enter the crypto currency space benefit from cheaper but also faster transactions thanks to streamlined blockchain technology. Also, Major Tom claims that international purchases are more simplified and cost-effective, opening up new markets and inviting new traffic, especially with younger demos that favour the currency, and that having more payment options at checkout can increase conversion rates and reduce cart abandonment.
