Bitfinex, a state-of-the-art digital token trading platform, has announced the launch of Bitfinex Pay, a payment technology providing online merchants with a means of receiving contactless and borderless digital token payments.
Whether you are a crypto savvy yoga instructor, hobbyist jewelry maker or the owner of an e-commerce platform, Bitfinex Pay offers a means of seamlessly accepting crypto payments.
The Bitfinex Pay widget can be integrated on to a website facilitating online payments. Users can pay with Ethereum (ETH), bitcoin (BTC), Lightning Network BTC (LN-BTC) and Tether tokens (USDt) via Ethereum or Tron. Payments made via Bitfinex Pay will be directly deposited into a merchant’s exchange wallet on Bitfinex.
“This is the age of digital money and with Bitfinex Pay we’ve created an intuitive and seamless way for online merchants to receive payments in crypto,” said Paolo Ardoino, CTO at Bitfinex. “Bitfinex Pay enables merchants to be easily equipped to support crypto payments as increasing numbers of consumers become more comfortable with paying for goods and services using digital tokens.”
Customers of a merchant that has integrated the payment technology simply click on the Bitfinex Pay button to be seamlessly directed to the Bitfinex payment gateway. After payment is made using a cryptocurrency accepted by the merchant, a customer will be redirected back to the merchant’s website.
The value of payments made by each customer using Bitfinex Pay is capped at US$1,000. While there are no processing fees for using Bitfinex Pay, any transaction fees incurred on the relevant blockchain will be borne by online merchants and their customers.
To get started with Bitfinex Pay, eligible merchants will first need to register for a Bitfinex account, verify the account to at least the intermediate level and apply for merchant verification. Upon successful verification, a merchant sub-account can be created. Merchants can then integrate the Bitfinex Pay widget on to their websites.