Cryptocurrency payment gateway solution is what many businesses are looking for and need. Most of us are familiar with cryptocurrencies, blockchains, and challenge platforms. However, so far, most people consider cryptocurrencies to be too volatile and risky. As reality changes, cryptocurrency gateway technologies are on the rise.
Several modern trends signify the eventual relevance of cryptocurrency payment gateway technology and blockchain. In addition to Bitcoin and Ether, many new currencies have emerged. These include stable coins (USDC, USDT, BUSD), which are protected from fluctuations by being pegged to USD. As a result, cryptocurrencies have become a less risky asset and investment
Several large companies have started accepting crypto as payment, following the example of Visa and PayPal. These “pioneers” include Starbucks and some major airlines. In recent years, many DeFi platforms have successfully launched despite the pandemic, or “thanks”. Most of his DeFi solutions are based on Ethereum like UniSwap and his BSC like Pancake Swap blockchains.
As you can see, crypto is rapidly gaining popularity around the world. Developing cryptocurrency gateway solutions is therefore a strategy for payment software companies and gateway providers.
Cryptocurrency payment gateway solutions and how to improve them.
Coingate, Shopify Gateway, Coinpayments, NOWPayments, CoinsBank are just a few examples of crypto payment gateway services. The availability of Bitcoin Payment Gateway functionality and support for other major currencies allows businesses to welcome cryptocurrencies as a means of payment.
However, most crypto gateway providers support crypto-only payments. Now, how many companies are ready to go completely crypto? And then, can the major Payment Service Provider (PSPs) and payment facilitators easily do crypto merchant funding? Basically, to accept cryptocurrencies, merchants usually have to go through the registration process again. Although they already accept credit cards through an existing payment partnership. Cryptocurrency gateway providers need to address the vulnerabilities listed in Paymentech’s development.
Advanced crypto payment gateway solutions are omnichannel.
The best option for a business that wants to accept cryptocurrency might be to partner with an omnichannel solution. Indeed, an existing payment gateway usually supports all major payment methods. These are credit, debit, direct debit, in-app and mobile payments including various digital wallets. These are all the target payment methods of most merchants and PayFacs.
So instead of just implementing open source crypto-payment gateway services, they can look for multi-channel solutions. These solutions allow you to diversify your income streams and have the added advantage of seller subscriptions. From the vendor’s point of view, the omnichannel solution is also more profitable than the crypto-centric model.
Cryptocurrency payment gateway solutions are the reality of the present and the near future. An open source crypto payment processor or gateway model works best as part of an omnichannel solution. In this case, payment gateway offering is suitable for both the merchant and PayFacs, which accepts cryptocurrency as one of the payment methods.
United Thinkers is now adding crypto-enabled features to its omnichannel solution. The UniPay Gateway solution will support stablecoin payments and authorizations in other currencies, including Bitcoin and Ether.
Accepting Bitcoin and other cryptocurrencies is an easy addition to your business and can also increase the number of payment methods available to your customers and lower your overall transaction fees. Once you figure out your regional crypto regulations and have a billing plan to track these payments, you can set up cryptocurrency acceptance seamlessly.