Commercetools provides a highly scalable platform that caters mainly to e-commerce businesses. The platform offers limited built-in eCommerce functionality and relies on third-party integration through the CommerceTools Marketplace. Therefore, the payment process taking place at businesses will be connected to other parties to accept payments in many forms. In this article, we would like to introduce Commercetools payment integration with Cryptocurrency and Crypto Payments.
What are Cryptocurrency and Crypto Payments?
Cryptocurrency (or Crypto) is a form of electronic money issued by projects on the blockchain. Blockchain can be seen as an electronic ledger distributed on many different computers (decentralization), storing all transaction information and ensuring that information cannot be changed under any circumstances (transparency). Cryptocurrency is used as a means of transactions on blockchains such as rewarding miners, purchasing project investment capital, and many other forms of transactions. It uses cryptographic algorithms to ensure the security of transaction information in digital form and controls the creation of new units through blockchain technology.
Cryptocurrency payments are increasingly being accepted by retailers, individuals, and businesses. Instead of transferring funds manually, payment gateways have provided a simpler way to pay with cryptocurrency. These ports eliminate the need for users to manually copy addresses, thereby helping to avoid making basic mistakes. They also accept crypto debit or credit cards to make fiat payments in cryptos that users have in their linked accounts.
Commercetools payment integration: Cryptocurrency and Crypto Payments
Bitcoin is a digital currency released as open source software. This is also the world’s first cryptocurrency, laying the foundation for the development of the crypto market. It uses a peer-to-peer protocol for all transactions. This helps the coin eliminate the intermediary step in the process of making transactions, not through any intermediary organizations or individuals. Because of its popularity, businesses need to have a payment gateway that accepts Bitcoin in their digital storefront.
CoinGate is a crypto payment gateway with Commercetools integration. It allows businesses to accept payments online through cryptocurrencies like Bitcoin, Ethereum, and Litecoin. This Commercetools payment integration provides a convenient and customer-oriented payment infrastructure that meets the needs of retailers and buyers. Payment flows within the business will be fully managed, allowing it to securely conduct transactions and record payment history.
To configure the CoinGate API with Commercetools, users need to create a Merchant API login from their CoinGate account. Here, businesses can specify payment details depending on their preferred payment options to complete the transaction. It is entirely possible to choose to integrate Bitcoin payments with third-party APIs or implement them manually in the merchant tool online store. It helps to overcome the limitations of traditional payment flows, facilitating fast and secure payments.
Nowadays, almost every business uses digital currency and adopts cryptocurrency mainstream. To complete the Commercetools payment integration, business owners must choose a system that supports transactions in crypto assets that ensure high security and safety. Contact us if you are looking for a support system that links with Commercetools.