The collaboration will allow all 1M+ stores using Ecwid to enable XRP Ledger (XRPL) payments through Xumm for their customers.
Xumm, a prominent self-custody wallet built atop the XRP Ledger by XRPL Labs, has formed a partnership with Ecwid, a top e-commerce platform. The partnership will allow over 1 million online stores across the globe accept XRP Ledger (XRPL) payments from their customers.
Xumm announced the partnership through its official Twitter handle today, hailing it as a significant advancement in e-commerce.
1M+ stores can offer seamless, secure #XRPL payments, boosting cross-border & cross-currency transactions.
— Xumm Wallet (@XummWallet) April 24, 2023
According to an official blog release, the partnership will facilitate easy integration of Xumm payments for online stores that use Ecwid. This integration will provide customers of these stores with the ability to make payments using any asset they hold on the XRP Ledger, such as XRP. Moreover, online stores not currently using Ecwid can leverage the feature by integrating Ecwid into their platform.
The partnership will offer online store owners the advantage of catering to a vast community of cryptocurrency users while also receiving payments in stablecoins denominated in USD, GBP, and EUR. This will be made possible through a fiat withdrawal gateway provided by GateHub, thus enabling seamless and automatic conversions between crypto and fiat currencies.
The Xumm team calls this process “Pathfinding,” having integrated it into the Xumm wallet via the Xumm 2.4.0 update released last month. As previously reported, this feature allows customers to pay with any crypto asset they own on XRPL while making sure that the recipient gets their desired asset, including fiat.
A cursory examination of the Ecwid website indicates that the “Pay with Xumm (XRPL)” feature is already available for interested stores. The feature offers numerous advantages, such as low transaction fees, instant settlement, and free currency conversion, which could be beneficial for online store owners seeking to enhance their customers’ payment experience.
Xumm Promotes XRPL Payments
Xumm is dedicated to fostering the global adoption of the XRP Ledger and has undertaken numerous initiatives aimed at making trading and payments more accessible to the average user. In furtherance of this goal, the self-custody wallet collaborated with Friipay in February to enable retail stores in the Netherlands to accept XRPL payments from customers by merely scanning a QR code.
Last month, Xumm introduced a decentralized exchange (DEX) on the XRP Ledger that is accessible through web browsers. This browser-based DEX enables users to trade their XRPL assets without leaving their browsers. At launch, the browser-based DEX was exclusive to Xumm Pro users, but Xumm has promised to release it to the public by May.