Utrust, the leading cryptocurrency payment solution offering instant transactions, buyer protection, and immediate crypto-to-cash settlements, has announced a partnership with Magento, the leading e-commerce platform that handled $155 billion in gross merchandise volume in 2018.
Magento is the popular eCommerce solution used by well-known brands such as Ford, Helly Hansen or Nespresso.
Magento was recently acquired by American multinational software company Adobe, which means that their partnership programs will be revamped and expanded. Utrust will have the unique opportunity to integrate the Adobe Exchange Partner Program. As an Innovate Partner, Utrust will also be listed on Magento Marketplace, the next-generation application store, making our plugin available to all Magento users, and providing developers with the tools required to integrate cryptocurrency payment solutions into their business offerings seamlessly and with ease.
Built on open source technology, Magento powers 12% of worldwide ecommerce offering an array of flexible features in catalogue management, content, search engine optimization, and large scale customisation of functionality. By adding Utrust to their platform, Magento is opening up a whole new billion dollar market for merchants. Any merchant using the Magento platform will now be able to receive digital currency payments seamlessly, and still get paid in fiat if they so choose.
Commenting on the latest high-profile partnership, Utrust CEO, Sanja Kon, said, “Magento’s vast, high calibre portfolio of eCommerce businesses can now integrate Utrust and benefit from lower fees and millions of new users while accepting digital currencies. Recognising the potential of digital currencies as a growing payment method, Magento is not only improving the payment options for their own customers but also contributing to the wider effort of increasing mainstream digital currency adoption. This remains at the core of our operations and becoming an Innovate Partner of the Adobe Exchange Partner Program allows us to advance in our mission.’’
Now, Magento’s merchant portfolio can opt to accept digital currencies such as Bitcoin, Ethereum, Tether or Utrust’s own UTK, and get paid with fiat, as payment for goods and services. With Utrust, businesses can cut out the middleman and keep more of their profit margin for themselves.
Utrust is the leading cryptocurrency payment solution designed to modernize the finance and payments industry and solve the problems of traditional payment methods by offering instant transactions, buyer protection and immediate crypto-to-cash settlements for the merchant. The Utrust platform went live in 2019 when football club S.L. Benfica came on board as the first merchant and the first major European football club to accept cryptocurrency. Utrust has since added Phone House Portugal, Alternative Airlines, Luis Onofre and dozens of other major e-commerce stores to its growing list of merchants.
Founded in 2008 and headquartered in California, Magento, an Adobe company, is a leading provider of cloud commerce innovation to merchants and brands across B2C and B2B industries. It was recently named a leader in the 2018 Gartner Magic Quadrant for Digital Commerce. In addition to its flagship digital commerce platform, Magento Commerce boasts a strong portfolio of cloud-based omnichannel solutions that empower merchants to successfully integrate digital and physical shopping experiences.