How does a payment gateway for digital currency work?

15 Feb 2022 By PAYCEC

Using a crypto payment gateway, merchants can accept payments in the form of a variety of cryptocurrencies on their website, just as they would with a credit card or bank transfer. Customers can then pay for their items with Bitcoin, Ethereum, USDT, and a range of other cryptocurrencies.

A cryptocurrency payment gateway is a payment processor for digital currencies, analogous to payment processors, portals, and acquiring banks for credit cards and debit/prepaid cards (Eg. Bitcoin, Ethereum, USDT, etc.). Cryptocurrency gateways enable you to accept digital payments and receive fiat currency immediately. For the purpose of processing payments, cryptocurrency payment gateways operate as transaction facilitators between merchants and clients.

Payments Flow

In terms of processing, the following workflow is followed:

  1. Your customer selects cryptocurrency as a payment method throughout the checkout process (in-store, on the web, or in-app).
  2. At the time of the transaction, they pay you the fair market value of the digital currency.
  3. Your payment is converted into the currency you designate in real time by the cryptocurrency payment service.
  4. At intervals set by your service contract, funds are added to your provider's account and deposited into your authorized bank account.

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We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.

Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.

PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.

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