The Shiba Inu (SHIB) memecoin continues to gain acceptance as a form of payment for products and services. This time, thanks to an integration with the payment gateway NOWPayments, it will be possible to use SHIB to pay monthly subscriptions to Netflix and Spotify. According to NOWPayments’ announcement of the news, companies that also run subscription services can now allow their customers to pay using SHIB. “Companies that decide to introduce SHIB as a payment option will get at least part of the SHIB community to experience the new use case. As a result, businesses accepting SHIB payments should expect a significant increase in new customers,” the company said. Read also: MicroStrategy buys 2,500 BTC and surpasses 132,000 BTC in cash
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Escrow Payments (Billing API)
One of the possibilities of using SHIB is through the custody recurring payments function. According to NOWPayments, it is possible to set up separate billing accounts for users or customers and allow them to top up these accounts with the cryptocurrency of their choice. In this case, Shiba Inu. “You will be able to set up these billing accounts on your own platform. Thus, it will only use the NOWPayments infrastructure to automatically handle all transactions using our API”, said the company.
NOWPayments recurring billing
In addition, it is also possible to use NOWPayments’ recurring billing solution to allow companies, services and individuals to send recurring invoices in SHIB to an unlimited number of users globally. “[A solução] allows you to specify how often your customers receive recurring invoices via email, asking them to pay for your services or items. Individual invoices can be customized or the same features can be applied to an entire batch of invoices. Invoices can be canceled at any time. To accept SHIB token for subscription plan simply create a NOWPayments account. Then just provide the SHIB payment address and use the Recurring Billing API or set up a recurring payment plan.
SHIB as a means of payment
Use cases for SHIB for payments continue to grow. In November of this year, for example, the SHIB team partnered with travel booking site Travala to benefit memecoin holders. According to the announcement, SHIB investors can get $25 worth of travel credits on the Travala website. With this new offer, all Shiba Inu holders can claim their discount on the booking site. Before that, in May of this year, the Italian luxury fashion house Gucci started to accept memecoin as a payment method in some of its stores.
Price of Shiba Inu Token (SHIB)
The partnership with NOWPayments has yet to have a positive impact on the price of the SHIB token. In the last 24 hours, the crypto asset retreated 3.8%. At the time of writing this article, the token is costing BRL 0.00004207, according to data from CoinGecko.
SHIB token price chart over the last 24 hours. Source: CoinGecko
