The Commerce Payments Protocol, developed by Shopify and Coinbase, recorded more than 448,000 payments and approximately $42.1 million in net settled volume on Base as of October 2. Eligible merchants can accept USDC through Shopify Payments while receiving payouts in their local currency, without directly managing cryptocurrency balances. The protocol uses an authorization and capture mechanism similar to card payments, while Coinbase Payments covers gas fees for eligible customers. It also supports cancellations, refunds and customer reclamation of uncaptured funds, and its open-source code allows other commerce platforms to integrate it.
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