Crypto Payment Gateway Development — An Ultimate Guide 2022
Know about the entirety of the crypto payment gateway development techniques and tips to lead the emerging digital business in the near future.
Have you ever felt disgusted to pay your money in paper notes? Yes, you need to carry your wallet loaded with enough money, and you need to take them to places wherever you initiate your consumerism play. Payment gateways came to the rescue.
Yes, there are several payment gateways like Google pay, and Paytm, where you can pay them with one click away by entering your UPI id. But you know what, technology is expanding and you have to get ahead of this rat race to be a successful entrepreneur.
That means, if your competitors and other business verticals in your fintech sector are offering digital fiat payment gateways with certain updates, you can provide a crypto payment gateway option for your clients. You know that cryptocurrency payment gateways are expanding and it is touching new heights every day. That’s why there is a surge in cryptocurrency payment gateway development services in the blockchain space among startups and entrepreneurs.
All international stores are starting to accept crypto payments. But they have to do it via a crypto exchange because they do not have a separate crypto payment gateway platform to manage their crypto payments. So, it is time to make use of the opportunity to develop a cryptocurrency payment gateway platform to boost your business in a geometric progression.
This article will help you to understand the importance of cryptocurrency payment gateway development with its features, perks, and more.
Let us begin with…
What is a crypto payment processor?
A Crypto payment processor is a payment software that processes the crypto payments from the buyer to the seller. In order to conduct crypto payments successfully, the seller should install a merchant crypto payment gateway wherein he can share the code or link to the buyer to generate payments via the payment processor.
A crypto payment processor helps the transaction of crypto payments from one point to another in an effective way. There is no need to get into a crypto trading platform and transfer the funds if the merchant uses your payment processor.
But, it should not be misunderstood with the crypto payment wallet will not be necessary after all. It is a wrong conception. Because no crypto can be transferred without the help of a crypto wallet. So, it should be understood that you will need a crypto wallet to access the crypto payment gateway.
Top-notch cryptocurrency payment gateway development companies provide this feature as an add-on for their clients. Let us know about the crypto wallet integration with the crypto payment processor in detail.
Crypto wallet integration with your crypto payment gateway development
Crypto wallet integration is one of the stunning features that you can find in any cryptocurrency payment gateway. It is because all the crypto exchange and crypto payment gateway development companies have come up with a combo of their product with the crypto wallet services.
In short, the crypto wallet services have become one of the default add-ons along with the crypto payment processor development.
Speaking of which, you should go for a multi-cryptocurrency wallet integration. No one would like to pay only in bitcoins. If you insist your clients’ merchants go by that payment, then they will have to do a hell of a work to convert their cryptocurrencies to bitcoin and then they have to transfer the payment. It would create a mindset that normal fiat payments would be a lot easier, which is a downside for any industry. So, it is best to go by the multi-currency wallet for facilitating your merchants to transact in any listed cryptocurrencies.
before developing a crypto payment gateway platform for your business, you need to know how it actually works. so, let us jump into…
How does a crypto payment gateway work?
Crypto payment processors work in two different ways — one for the merchant and the other for the user. On the merchant side, the user will have to transfer the payment from his wallet to the merchant’s wallet address. Then the merchant will have to convert his digital money to fiat to his bank account. This is how it works. Let us know it in more detail:
- The shop merchant should first of all register with your cryptocurrency payment processor to access the payment transfer.
- Once done, the merchant should integrate his wallet with the processor. If he has a crypto wallet of himself, then he can integrate that wallet with the payment processor.
- If you are running an online eCommerce store or any kind of online market, then you have to add the plugin of your payment processor to your payment acceptance section to add crypto payments as one of the payment options.
- If your transactions are for in-person payments like the Point sale transactions, then it is of primary importance to link the plugin to your point of sale device to access the cryptocurrency transactions.
It is the working procedure of a crypto payment gateway processor. Have you ever thought of the benefits that you would get if you develop your cryptocurrency payment gateway? Let us discuss that:
Benefits of cryptocurrency payment gateway development
- Effective customer-based relations and perfect transactions.
- Instant transactions with utmost security.
- Quicker uptime process without any delay.
- Multiple devices supporting POS system.
- Users can withdraw money 24/7.
- Nothing to worry about the chargeback fraud.
- International payments and cross-border transactions.
- Secured with blockchain technology and completely secure.
Features of an impeccable crypto payment gateway development:
- Facilitative for multiple users.
- It is an open-source platform supportive enough for e-commerce platforms.
- Bank deposits are applicable to more than 38 countries worldwide.
- Multi-lingual assistance.
- It supports more than 40 worldwide languages and increases global competency.
- All types of bitcoin and multi-cryptocurrency wallets are compatible.
- 2FA authentication and other security measures.
- Push-up notifications of all transactions and payments via SMS and app-based notifications.
- Additional security measures and other forms of customizations based on the client’s business needs.
- Secure, interactive, and intuitive.
You have known about the working process, benefits, and features of the crypto payment gateway development. But do you know who on this green earth would provide genuine white-label crypto payment gateway development solutions at an affordable price? Yes, there are certain companies who can help you in that aspect.
Let us look into it.
Where can you get the best cryptocurrency payment gateway development service?
There are certain qualities by which you can pick up the best crypto payment gateway development company as your technical partner. Some of the best qualities include
- Years of experience in the blockchain field
- Quality of service
- Timely delivery
- Technology stacks used for development
- Customer engagement and support
- Continuous assistance.
So, by considering the above essential qualities, you have to make a list of those and you should choose the best crypto payment gateway development company to come out with an effective crypto payment processor software for your business.
Digitalization is overtaking the paperwork. It may be due to the environmental factors of saving the trees, but people do not want to hold a bundle of paper to a 200 g smartphone that has an entire database in it. While speaking of the crypto payment processor, people love to carry their mobile to a wallet, and hence there is an increasing demand for cryptocurrency payment gateway development services in the market. So, it is the best time to pick up the perfect development firm and initiate your crypto payment gateway business and lead the pack in the new digital world.