E-commerce platform on WordPress, WooCommerce, has partnered with Crypto.com to serve as a crypto payment gateway.
The WooCommerce platform powers approximately 30% of online stores in the world. Therefore, helping merchants automatically convert crypto coins to dollars or euros. This eliminates issues web shops may have.
WooCommerce has previously partnered Ripple, find out more here.
What does the agreement bring to the table?
The Crypto.com Pay Checkout feature uses Crypto.com Chain as a high performing native blockchain solution. This enables the transaction flow between crypto users and merchants in a seamless, cost-efficient and secure way.
First, it helps merchants accept cryptocurrency payments, such as the CRO coin, Bitcoin, Ether, Litecoin, and Ripple from users.
Consequently, when customers make use of the CRO token, they get up to ten percent cashback in CRO. The cryptocurrencies received can be instantly converted into any fiat currencies needed.
Secondly, the service allows settlement in fiat currency via bank transfer or various cryptocurrencies. Although, only USD and EUR are accepted for now.
Thirdly, merchants can price their goods in local fiat currency, which allows customers to receive cashback.
Finally, Crypto.com’s PCI: DSS Level 1 compliant platform and it safeguards customer payment data.
However, Crypto.com is not the first to launch a crypto payment portal for WooCommerce. Bitpay, Coinbase, Coingate, and Blockonomics have been available before now.
Brief info about Crypto.com
Crypto.com has a solid foundation of security, privacy, and compliance. Also, it is the first crypto company to have CCSS Level 3, ISO27001:2013 and PCI: DSS 3.2.1, Level 1 compliance. Currently, the platform can boast of over 1 million users on its platform.
Crypto.com has a mobile application that serves a payment gateway between crypto and non-crypto users. The app also supports zero-fee payments in crypto directly to the receiver. It has also launched its VISA powered MCO Cards in the United States in partnership with Metropolitan Commercial Bank
Read its latest AMA summary here.