Paxful, a global peer-to-peer bitcoin exchange platform, has announced the launch of Paxful Pay, a new e-commerce solution that allows businesses around the world to receive bitcoin as payment for their goods and services, according to new version.
“We are thrilled to introduce Paxful Pay to our global community,” said Artur Schapak, COO and Co-Founder of Paxful, in the release. “There is a clear need to offer local bitcoin options and this product is the culmination of our efforts to meet that demand.”
Peaceful Payment It acts as a payment integration on merchants’ e-commerce websites. The tool allows buyers to make purchases using 400 payment methods, then the assets used in the purchases are exchanged into bitcoin which is sent to the merchants’ digital wallets. Interested merchants can start the signup process for Paxful site.
Transactions made through Paxful’s e-commerce integration are handled through the company’s peer-to-peer bitcoin exchange platform, which uses a robust and secure escrow system. In addition, all fees are paid by the buyer and seller, with no expenses incurred in using Paxful Pay as a merchant.
Upon completion of a successful payment, the merchant can configure a callback to release the merchandise to the buyer. And while the payment funds are deposited into the seller’s merchant account by default, automatic transmissions to any Bitcoin address can be enabled in the dashboard – which incurs a fee of 50,000 satoshis. Moreover, merchants can also track transactions, manage their earnings, and convert their funds into local currencies at any time.
By introducing the new e-commerce checkout integration, Paxful is lowering entry barriers for merchants around the world to receive bitcoin as payment for their goods and services. With six million people already using Paxful to buy and sell bitcoin in a peer-to-peer manner worldwide, merchants can now take advantage of a non-preemptive liquid solution to start getting paid with The hardest form of money in the world. In the medium and long term, Paxful Pay is also set to increase bitcoin adoption by stimulating the decentralized exchange of bitcoin goods and services.