Bitcoin Payment Gateways for your BusinessRichard Ogunsola
As earlier stated in some previously published articles, Bitcoin and the blockchain technology has a lot in stock to redefine the face of e-Commerce. The under-listed Cryptocurrency payment gateways proves that Bitcoin can make business transaction a lot easier.
Top Bitcoin Payment Gateways For Merchants
Blockchain Merchant is a free point-of-sale app that makes it easy for any retail online or offline merchants including boutiques restaurants, firms, shops in any location in the world to accept Bitcoins. Merchants only need to set up the blockchain Merchant app with their bitcoin wallet address to get started.
The payments from customers attract zero extra fees and there are instant transactions to any bitcoin address. The app also tracks incoming payments in real time and offers you the unique opportunity to list your business in the Blockchain Merchant directory so customers can look you up.
CoinPayments provides a lot of website integrations such as merchant shopping cart plugins, APIs, Invoice builder, Point of Sale (bar code generators) and Mobile Apps to allow merchants to accept payments in over 445 altcoins for only 0.50 percent for incoming payments to CoinPayments wallet and commercial deposits.
You can also add other features like donation buttons, wish list buttons, shopping cart buttons. It is also ideal for companies holding ICOs or donations and hoping to receive multiple types of altcoins and then convert the proceeds into a single currency like USD or Bitcoins. CoinPayments supports Instant Confirmations to make Bitcoin payments faster, and has Android and iOS apps.
Merchants can get fiat settlements in Dollars, Pounds and Euros through their banks. Additionally, merchants can enjoy auto conversion of coins and altcoins within the Coinpayment ecosystem, without moving the funds to a different exchange, without fear of wasting time or worrying about exorbitant fees. The service also features a multi-coin wallet.
The solution is being used by more than 967,500 vendors across 182 different countries.
Coingate lets merchants accept Bitcoin, Ethereum, Litecoin and Dash and over 50 other altcoins and to receive payouts in Euros, U.S Dollars or Bitcoin. Coingate has over 800 payments processed daily on their platform. Recently, Coingate partnered with Prestashop an open source eCommerce solution to increase adoption of cryptocurrency payments by merchants. They have an Android and iOS point of sale that allows businesses to accept Bitcoin payments on mobile devices.
The company also offers ICO and token sale payment processing, allowing companies to sell tokens and then convert easily to their desired altcoin or Bitcoin or fiat, all at a flat processing rate depending on your expected volumes.
Stablecoin is a decentralized payment gateway that is being developed to solve cryptocurrency stability issues and fears, which might make it more acceptable by the public. Merchants are able to process transactions using any cryptocurrency without having to worry about volatility such that they can expect fairly the same exchange rate when cashing out compared to when receiving payments.
It is thoughtful given that one of the current barriers for as many merchants to accept crypto payments at their stores is volatility- i.e. the quick changing of altcoin prices within a short period. The merchant will install a plugin that provides an interface to a Bitcoin wallet or other crypto wallet. The customer then chooses to pay in Bitcoin or other crypto. The conversion rate between Bitcoin (or other crypto) and fiat is retrieved from an oracle and the price of goods displayed in Bitcoin (or other crypto) and fiat.
The customer then transfers Bitcoin to the merchant wallet. The payment gateway integration will then scan the blockchain to confirm the transaction. The crypto is then sent to an exchange where it is liquidated to stablecoins after the transaction is confirmed.
It means the cryptocurrency is sold for stablecoins. Stablecoin is itself supposed to have a stable price against fiat such as USD. Being a stable coin, it is ideal for funding token sales, secure store of value, for global remittance, for trading on decentralized exchanges and as a unit of account for prediction markets
GoCoin is an enterprise payment processor that provides tools, integrations and customer support to allow vendors to accept Bitcoin, Litecoin or Dogecoin. More altcoins is to be added before the end of the year to expand it’s capabilities.
Merchants integrate GoCoin into their vending platform using free plugins for major online shopping cart platforms. These include plugins for WooCommerce, Shopify, Magento, nopCommerce, and OpenCart. Customers pay for your goods and services with the cryptocurrency of their choice. Since 2013, the company has processed five million transactions worth millions of dollars of blockchain currencies.
The company requires KYC (Know Your Customer) documents to verify an account.
The fee is 1% of every sale. GoCoin also offers international wire transfers (in USD, EUR, GBP and SGD currencies) to the merchant’s bank when their account balance hits $1,000.
CoinsBank provides a debit card that you can use to spend cryptocurrencies at ATMs or for merchants worldwide where MasterCard or Visa is accepted. This is a good option for customers willing to spend cryptocurrencies to buy from merchants. Coinsbank also provides a solution for online merchant services and e-commerce platforms willing to accept Bitcoin and Litecoin.
You can hodl the cryptocurrency and enjoy flexible real-time conversions, payouts. Payout is done in major fiat currencies. The transaction fees for withdrawal is 0.5 percent for Bitcoin and Litecoin. Wire transfer fee is 1 % for SEPA EUR and 3.5% for USD and GBP. Different fees apply for credit and debit card or other methods.
On this platform you can manage your payments and monitor your earnings from one place including balances, payment details and checkouts. Coinbase Commerce integrates with Shopify and allows merchants to accept major cryptocurrencies such as Bitcoin and Ethereum, Bitcoin Cash and Litecoin.
However, withdrawals on Coinbase Commerce are not yet enabled. But in the meantime, merchants are able to transfer their customers fees from the Coinbase Commerce to their Coinbase account or to other crypto exchanges and third party wallets.
Bitpay supports Bitcoin and Bitcoin Cash as payment options. They provide retailing, eCommerce, billing (invoice), and donation tools to allow merchants and individuals accept cryptocurrencies. The cryptocurrency received is converted by BitPay and merchants can thus receive settlement directly in their own currency (fiat such as US Dollars, Euros, GBP and many more) with zero volatility and risk.
This feature works in 38 countries. This implies that you can convert proceeds to dollars with the BitPay card or spend the amount elsewhere. This payment gateway is partnering with most popular e-commerce platforms and Point-of-Sale systems to facilitate integration. It now has over 40 web integrations. They also have plugins for WooCommerce WordPress eCommerce, Xcart, Zen Cart and pther carts.
SpectroCoin is a merchant tool that allows merchants and business people to start accepting Bitcoin, NEM and Dash at their businesses — online and offline stores. You can then receive receive USD, EUR and GBP or local currency settlements directly into your bank account.
For online vendors, there are eCommerce plugins and APIs for popular shopping carts.
SpectroCoin is more than just an altcoin: it also features a Bitcoin Exchange, debit card and wallet in addition to the payment processor. SpectroCoin Prepaid Card allows merchants and users to spend their funds in physical ATMs around the world. The cryptocurrency funds are converted to USD, EUR, or GBP before loading onto your SpectroCoin prepaid card.
ErosCoin has support tools for over 500 different kinds of cryptocurrencies. With it, merchants can transfer and trade crypto in seconds. Customers would pay with cryptocurrencies by scanning a QR code with their mobile phones. The payment requests are confirmed on blockchain network, and then your merchant account gets credited with the cryptocurrency balance.
ErosCoin also offers a payment card that makes spending of cryptocurrencies easier. It is an entire payment ecosystem with selling tools such as Subscriptions, Payment Links as well as invoice generation, and deposits. You can also track transactions in your merchant account.
SpicePay lets merchants to accept Bitcoin and other cryptocurrencies securely for payments for goods and services. Spice Pay features online retail, e-commerce, billing and donation tools. The merchants will then receive the amount in the wallet. Merchants are also able to automatically exchange the digital assets for USD or EUR, and withdraw by PayPal, wire transfer, SEPA or prepaid debit card (EU only).
As a merchant, you will have access to your funds immediately, with no fraud and no charge-backs, and save an average of 2% on every transaction! Their open source wallet app runs on all major mobile and desktop operating systems.
SpicePay also provides a pre-paid debit card that can be loaded from the SpicePay BTC wallet for a fee of only 1 percent. You can then withdraw funds from ATMs in any currency and spend anywhere Visa card is accepted. Although to integrate SpicePay you would require some basic developer skills, but if you can’t SpicePay in-house developers can assist free of charge .
Spice Pay is being used by freelancers, entrepreneurs, Small & Medium scale businesses worldwide to accept and process payments at a low fees.
COSS.io payment-gateway is a merchant Point-of-Sale application (web-based and Android app) that allows acceptance and management of cryptocurrencies. Like many other gateways, they offer exchange from fiat to crypto. Once the amount is paid by the customer, the company offers competitive exchange rates to USD, EUR or SGD.
COSS offers a PoS system with reporting tools that simplify accounting, the Know-Your-Business feature and links that can be used by merchants who do not have web shops.
It also has a token swap feature.