Integrating Secure Crypto into eCommerce
Online payments with credit cards or electronic payments like PayPal already take the lion’s share in the market transactions. The main challenges for the merchants today are to ensure the highest convenience and proper payment experience for their buyers while increasing security and safety of transactions claimed by regulations. Keeping the balance between convenience and secureness is not an easy task. So, it is hard to decide which aspect to give more attention to stay in a winning situation. However, one thing is clear — retailers (if they want to stay on top, of course) need to adjust to changing market conditions that in the majority of cases are dictated by audience interests.
Speaking of cryptocurrencies as a prospective payment option, they are able to meet those strict requirements of security and provide desirable convenience. Moreover, they are about to change the market and the way people buy and sell goods. Crypto payments by their nature have several advantages over regular payment methods, namely:
- peer-to-peer exchanges with no middlemen involved;
- irreversible secure transactions protected against fraud;
- comparably lower fees for transactions with crypto.
However, a number of specific and well-planned activities need to be done so that e-commerce stores will be able to accept payments in crypto. Probably the hardest way to achieve it is to set-up wallets and exchange accounts manually to receive payments directly. In a nutshell, the following steps need to be done:
- Setting up the wallet. Be ready that different wallets may support different coins. So which one you choose makes the impact on the number of cryptocurrencies you will be able to process on your store.
- Creating an account on the exchange. This step is optional, and it is the must-have in case you want to convert the received crypto coins into fiat money. Once again — different exchanges may support different currencies.
- Developing a payment interface for your online store. This activity involves some web development to implement the possibility for users to pay with coins and for your store to accept the payments, transfer them to wallets and further convert into fiat money on exchanges.
Such a direct method of building crypto payment from scratch requires timing and financial effort to implement the solution. There is the risk that the result may not satisfy expectations in the end. Speaking of enterprise eCommerce that utilizes such platforms like SFCC, IBM WebSphere, Intershop-Enfinity, Magento, Hybris, the better and much faster option is to integrate third-party payment extensions. One of such solutions is Secure Crypto — a brand new platform for processing crypto payments online built to supply the needs of eCommerce business. Let’s talk about it more in the next paragraph.
For More Information Use Official Website: https://securecrypto.me/