Can blockchain be used for payments?

03 Oct 2022

Though we are unsure about the value of blockchain technology in payments, it does provide a new effective method of payment that many top banks are using to attract customers.

To facilitate faster, low-cost, secured transactions, a payment gateway using blockchain like PayCEC has brought a more intuitive payment method that can be done within a few seconds. Here’s how blockchain payments process on PayCEC:

• Your customers decide to pay for a good or service via PayCEC.

• They pay for a digital invoice using their payment gateway. This is usually a QR code containing the receiving wallet address and the amount needed.

• They scan the QR code with the app and confirm the payment.

• PayCEC converts crypto money from buyers to fiat currency and deposits it to your account in USD, EUR, GBP, or CAD.