Coinbase Commerce, a cryptocurrency payment provider, has announced a series of initiatives to support crypto commerce, including a WooCommerce plugin to give millions of merchants the option to accept cryptocurrencies, the ability to send bitcoin and litecoin directly, and other new capabilities. Coinbase believes the…
Coinbase Commerce, a cryptocurrency payment provider, has announced a series of initiatives to support crypto commerce, including a WooCommerce plugin to give millions of merchants the option to accept cryptocurrencies, the ability to send bitcoin and litecoin directly, and other new capabilities. Coinbase believes the improved access will support adoption of cryptocurrency and a more open financial system.
The WooCommerce plugin, a WordPress e-commerce platform, currently supports more than 28% of all online stores, all of which now have the ability to accept cryptocurrency from customers worldwide, Coinbase noted on its blog.
Users can install the WooCommerce payment gateway from GitHub, from which they can download a zip file of the repository.
Coinbase earlier this year announced its plan to allow merchants to accept multiple cryptocurrencies within a user-controlled wallet. While the platform was designed to be a significant upgrade for merchants, it requires them to migrate to a new system, according to Reddit, which noted that some businesses — especially those with low cryptocurrency payment volumes — could decide it is not worth the effort.
In March, Reddit, which began accepting bitcoin payments for its Reddit Gold subscriptions in 2013, announced it was no longer accepting bitcoin payments for its premium membership program after a user found she could not use bitcoin to gift another user a subscription. Reddit noted it was going to evaluate the demand and the progress of Coinbase Commerce.
Coinbase, meanwhile, also recently began providing the functionality to allow users to send bitcoin and litecoin directly. The company also plans to introduce the functionality for bitcoin cash and ethereum.
Coinbase also announced that a “React” payment button can be installed on a website to enable cryptocurrency payments, whether the merchant wants to accept donations for an open source project or sell tickets to an event. The React payment button allows users to embed a Coinbase Commerce checkout within the React application.
Coinbase further announced a Coinbase Commerce API for Python library. The company will also provide client libraries for Ruby, PHP and Node.js.
All payments sent through Coinbase Commerce allow customers to send money directly from their crypto wallet to a merchant-controlled cryptocurrency address. Merchants do not incur transaction fees to accept payments and maintain full control of their funds.
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Last modified: January 24, 2020 11:03 PM UTC