How-to Guides

How do digital currency payments work?

March 2, 2021
3 mins read

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What is digital currency?

Digital currency is a digital currency that can be used to buy goods and services. It uses an online ledger with strong digital currenciesgraphy to secure online transactions. There are more than 5,000 digital currencies in circulation. Popular digital currencies are Bitcoin and Etherum.

What is digital currency payment gateway?

Digital currency payment gateway allows businesses to accept digital currencies from customers in exchange for goods or services. When a customer makes a purchase using digital currency, the transaction goes through the payment gateway at a fixed exchange rate and converts digital currency into recognized fiat currency, with zero volatility risk. And a transaction fee will be charged. Businesses can also choose to accept payments in digital currency.

Why accept digital currency payments?

Digital currency payment gateways offer lower fees than credit card payment services. With over 200 million of digital currencies owners worldwide, digital currencies payment services enabled borderless transactions, enabling customers from all over the world to purchase your company's services or products. Learn more about the benefits of accepting digital currency here.

How to receive digital currency payments for your business?

Triple-A's digital currency payment gateway enables businesses to accept digital currency payments in just a few steps.

Step 1: Sign up for a digital currency merchant account on our website.

A welcome email with your dashboard and account credentials will be sent to your email.

Step 2: Install our digital currency payment gateway API or plugin on your online store.

API integration options

  1. Embedded payment form: Triple-A digital currencies payment form appears within your website
  2. External payment form: Triple-A digital currencies payment form appears on an external page

E-commerce plugins

  1. Opencart
  2. Woocommerce
  3. Shopify

Check out this comprehensive integration guide of Triple-A's digital currency payment gateway.

How can your customers pay using digital currency?

After adding our digital currency payment gateway on your online store, customers shop for the products or services they want to purchase on your store.

After finishing their shopping, customers proceed to their cart and check out.

Customers fill in their billing details and click on "Pay with bitcoin".

Customers access their digital currency wallet by scanning or clicking on the QR code which appears on their screen.

Once their wallet is opened, the payment amount and blockchain address is automatically filled in and customers can simply click to confirm the payment.

Voila, the payment is completed and you will receive an instant confirmation to ship out customers’ goods! You can then check the orders and payments directly on your dedicated dashboard.

How can your customers benefit from it?

Accessibility, Bitcoin payments benefit your potential customers—the unbanked and users without access to credit cards or other methods of payment. When they shop globally, they don’t have to worry about currency exchange fee as transaction was settled using Bitcoin. Bitcoin purchases are discreet, users are able to control how they spend their money without having to deal with a bank or government. Above all else, a customer’s purchase using digital currency cannot be easily traced, protecting the identity of a customer.

Just in the first quarter of 2021 alone, we see more companies accepting digital currency and more investors investing in digital currency, it’s clear that digital currency is revolutionizing the payments industry. Now is the time for you to start accepting digital currency if you have not done so.

 

Want to start accepting digital currencies payments?

Get started, request more info or book a call.

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