Making global payments faster & more accessible
Today, businesses accepting international payments may need to pay added fees or wait days to receive funds from a payment processor. Blockchain networks like Solana are bringing increased speed and convenience to online payments around the world. Solana Labs developed Solana Pay to make it easy for businesses to sell products and services at global scale.
USDC payments are an integral part of Solana Pay and make it easy for existing Web3 users to pay with stable, multi-chain digital currency. Solana Pay and USDC can also help businesses create a more direct connection to their customers, unlocking new opportunities for rewards programs and other interactions that boost customer engagement. In 2021, McKinsey found that top-performing loyalty programs can increase revenues from engaged customers by 15% to 25% annually.
Leveraging solutions like Solana Pay alongside trusted digital currencies like USDC can offer businesses faster, more cost-effective ways to accept global payments and unlock new business opportunities to reach and interact with a global audience.
Solana Pay is a revolutionary technology that allowed us to accept instantaneous payments anywhere in the world. We’re excited about supporting active lifestyles across global communities and Solana Pay allowed us to do that seamlessly from end to end.”
Joe Pace, Director, Corporate Development, ASICS
A global storefront for ASICS powered by Solana Pay & USDC
ASICS, an apparel and footwear company, worked with Solana Pay to launch a limited edition footwear release to kickstart the ASICS loyalty program. Dubbed the UI Collection, ASICS designed a new pair of Light Mode and Dark Mode shoes for a limited time that could only be purchased using USDC on Solana.
Customers also received a digital loyalty badge automatically dropped into their wallet with each purchase. Loyalty badge holders were airdropped a limited number of digital versions of the UI Collection Shoes sponsored by Stepn*, which could be traded on NFT markets like MagicEden, helping generate awareness for the limited edition shoe to inspire more people to get outisde and go for a walk, jog, or run. At launch, ASICS UI Collection shoes went on sale in 180 countries around the world.
*Stepn is a move2earn NFT mobile app that aims to nudge millions into the Web3 world, healthier lifestyles, and contribute positively to carbon neutrality.
The UI Collection sold nearly 3,000 pairs to users in 62 countries, highlighting the power of Solana Pay and USDC to help ASICS easily accept payments from Web3 enthusiasts around the world.
Loyalty badges and other digital rewards associated with limited edition releases like the UI collection can create an active market for collectors and open a more direct channel for engagement between brands and their customers.
Digital rewards like Stepn NFTs can be combined with geolocation services to reward holders for related activities, like entering a sponsored 5k or visiting a new brick-and-mortar retail location. Taken together, Solana Pay and USDC are helping unlock the composable future of Web3 utilities, making it easy for enterprises and small businesses to quickly and cost-effectively accept cross-border payments, and engage with global audiences in powerful new ways.
By the numbers
Countries with UI Collection customers
UI Collection orders in five-day sale
Loyalty badges traded on MagicEden as of August 15, 2023
We see USDC as a stablecoin that, because of the way Circle designed it, the trust that’s baked into it, is something that’s easy to explain to a vendor or a merchant who doesn’t understand crypto or blockchain.”
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