What is a fiat to crypto payment gateway?

12 Feb 2022 By PAYCEC

Even though the client pays in fiat money, the fiat to crypto payment gateway allows businesses to get paid in crypto assets like Bitcoin, Ethereum, and Stellar Lumens. Fiat to crypto payment gateway enables a company to accept fiat currency as payment while withdrawing funds in their preferred cryptocurrency, and vice versa.

The Cryptocurrency acceptance process:

  1. Clients select the items and add them to the cart.
  2. Make a payment.
  3. Fill in the blank with the payment details by the fiat money. 
  4. The money will be proceeded thanks to a fiat to crypto payment processor* and then be collected back to the merchant’s wallet.
  5. Real-time Exchange into designated cryptocurrency.
  6. Merchants can withdraw or store the money in Crypto.

(*) Fiat to crypto payment processor is a third-party payment company that receives fiat payment check out information from the payment gateway and proceeds the transmitted details in a security check system and converts to crypto currency in real-time exchange values.

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