— Jeff Ward, Lehigh Valley News Briefs
Shift4 Payments has added a cryptocurrency payment option for its e-commerce and point-of-sale clients.
The payment-processing company said “Pay With Crypto” will simplify the process of accepting cryptocurrencies, which are digital currencies that are not linked to a government or bank.
Cryptocurrencies can be volatile. Bitcoin, for example, has traded as low as $31,444 and as high as $73,663 in the last 52 weeks.
Upper Saucon Township-based Shift4 (NYSE:FOUR) handles billions of transactions annually. Its clients include hotels, restaurants, sports teams, arenas and other businesses.
“With the rapid growth of crypto in everyday purchases, we are fully supporting this next evolution in commerce, and we intend to lead it,” Jared Isaacman, Shift4’s founder and chief executive, said in a statement.
Pay With Crypto will accept Bitcoin, Ethereum, Solana and other cryptocurrencies. All payments made in cryptocurrency will automatically be converted into U.S. dollars.
“Shift4’s crypto products are focused on making crypto acceptance as easy as traditional credit & debit cards,” Alex Wilson, Shift’s head of crypto, said in the statement.
Shift4 is working with Mesh, a New York-based company that supports the use of cryptocurrencies.
The closing price of Shift4 on Friday was $93.90. In the last 52 weeks, the shares have traded as low as $42.91 and as high as $96.96.
— Disclosure: I own shares of Shift4 as part of a buy-and-hold strategy. I do not invest in derivatives or day-trade.
Lehigh Valley News Briefs 