Coinbase launches commerce API for merchants to accept cryptocurrencies
One of the largest exchanges Coinbase announced the launch of Coinbase commercial API for accepting cryptocurrencies. Now merchants can easily integrate cryptocurrency payments in their e-commerce platforms.
Coinbase Commerce is a new service that enables merchants to accept multiple cryptocurrencies directly into a user-controlled wallet. Now instead of manually creating payment buttons or hosted pages to accept cryptocurrency payments, you can dynamically generate them using the Coinbase API.
Coinbase commerce makes it easier to accept payments in a peer-to-peer fashion. The merchants don’t have to worry about building and maintaining a blockchain infrastructure as the Coinbase API will take care of it.
The merchants won’t have to bother obtaining payment credentials or sensitive information of customers in order to charge the customer, unlike traditional payment methods. Using
After creating a charge, Coinbase Commerce will continuously monitor each blockchain network for a payment. Since cryptocurrencies are push payments, an expiration time is set for the charge which is currently 15 minutes after the creation date. If the customer does not make a payment within that timeframe, it is considered that the charge is expired.
Once a payment has been sent, the Dashboard will be updated with the payment information. To get more information about the payment, simply retrieve the charge by supplying the unique charge code that was returned when the charge was created.
Shopify store owners can accept cryptocurrency payments right away with Coinbase commerce. Payment buttons can be embedded that allow for payments on a website. Also, a shopping cart plugin will be introduced by Coinbase commerce.
Cryptocurrencies dramatically lower the barrier to accepting payments on the web. We hope the newly released Coinbase Commerce API lowers it even further. https://t.co/VGg5WpjfPf pic.twitter.com/fWhoq36sht
— Coinbase Commerce (@CommerceCB) April 2, 2018
This is good news for the adoption of cryptocurrencies, as more and more of such infrastructures are built to make it easier for payments and usage of cryptocurrencies the rate of adoption will increase.
Coinbase also recently added ERC20 support, Read it here.
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