Shift4 Teams Up with Mesh to Offer Merchants Crypto Payment Capabilities in Over 45 Countries

Rhea-AI Summary

Shift4 (NYSE: FOUR) has partnered with Mesh to enable crypto payment capabilities for over 200,000 merchants across 45+ countries. The integration allows automatic conversion of cryptocurrency payments into local currencies with seamless settlement. This makes Shift4 the first global payments company to offer one-click cryptocurrency acceptance to its merchants.

The initiative follows Shift4's acquisition of The Giving Block in 2022 and responds to growing crypto payment demand, with a Deloitte report indicating 64% of merchants noting significant customer interest in digital currency payments. TAO Group and BLADE will be among the first customers to implement this new capability.

Positive

• Integration enables crypto payments for 200,000+ merchants across 45+ countries
• Automatic conversion of crypto to local currencies reduces merchant risk
• First-mover advantage as the first global payments company offering one-click crypto acceptance
• Early adoption by major customers TAO Group and BLADE

Negative

• None.

News Market Reaction – FOUR

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On the day this news was published, FOUR declined 2.02%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

The integration will enable more than 200,000 merchants to automatically convert crypto payments into local currencies

SAN FRANCISCO, Oct. 28, 2024 /PRNewswire/ -- Mesh, the modern connectivity layer for crypto that makes payments and deposits seamless, unveiled its new integration with Shift4 (NYSE: FOUR), the global leader in integrated payments and commerce technology. Shift4's new feature, powered by Mesh, will now allow its merchants to accept crypto payments worldwide, making it the first global payments leader to allow its customers to accept cryptocurrency with one click.

Thanks to Mesh's secure, scalable API infrastructure, crypto payments will automatically be converted into local currencies and seamlessly settled, reducing complexity for merchants and eliminating conversion risks.

"Our team is excited to bring crypto payments mainstream," said Alex Wilson, Head of Crypto at Shift4. "This has been a goal of ours ever since the acquisition of The Giving Block in 2022 and the formation of the Crypto Innovation Center at Shift4. We're excited to be the first global payments company offering this to our merchants."

As demand for crypto payments keeps growing, a Deloitte report found that two-thirds (64%) of merchants found that their customers have significant interest in using digital currencies for payments. With over 600 million crypto users and increased interest in stablecoins, Shift4's new feature is designed to meet that demand, providing a secure and efficient way for merchants worldwide to tap into the crypto economy. TAO Group and BLADE will be among some of the first customers to use the new capability. Both have already had substantial interest from their customers for crypto payment options.

"People often forget that Bitcoin started as peer-to-peer electronic cash, not as an investment asset," said Bam Azizi, CEO and Co-Founder at Mesh. "These new features not only represent a significant leap forward for the crypto industry, but also a return to the original vision of truly decentralized digital payments. We are very proud to partner with an industry leader like Shift4 and are excited to help them unlock these benefits for their merchants. "

With over $45M in backing from top investors including PayPal Ventures, Galaxy, and Revolut's QuantumLight, Mesh is rapidly becoming a major player in the crypto space, launching integrations with industry leaders like Coinbase, MetaMask, and MoonPay.

About Mesh
Founded in 2020, Mesh aims to build an open, connected, and secure crypto ecosystem. As the modern connectivity layer for crypto, Mesh unlocks new use cases such as crypto payments and payouts, deposits, on and off-ramping, transfers, and more within a unified platform. With over 300 integrations, Mesh is pioneering the creation of a connected and embedded crypto ecosystem that benefits both businesses and users. For more information, visit https://www.meshconnect.com.

About Shift4
Shift4 (NYSE: FOUR) is boldly redefining commerce by simplifying complex payments ecosystems across the world. As the leader in commerce-enabling technology, Shift4 powers billions of transactions annually for hundreds of thousands of businesses in virtually every industry. For more information, visit shift4.com.

Contact: mesh@greenbrier.partners 

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SOURCE Mesh

FAQ

What is Shift4's (FOUR) new crypto payment feature?

Shift4's new feature, powered by Mesh, enables merchants to accept cryptocurrency payments with automatic conversion to local currencies across 45+ countries, making it the first global payments company to offer one-click crypto acceptance.

How many merchants can use Shift4's (FOUR) crypto payment system?

Over 200,000 merchants globally can access Shift4's crypto payment capabilities through the Mesh integration.

Which companies are the first to use Shift4's (FOUR) crypto payment feature?

TAO Group and BLADE are among the first customers to implement Shift4's new crypto payment capability.

When did Shift4 (FOUR) announce its partnership with Mesh for crypto payments?

Shift4 announced its partnership with Mesh for crypto payment capabilities on October 28, 2024.