Recently, PayPal, a leading digital payment company, increased its crypto-buying weekly limit from $10000 to $15000 for its users, mainly for four assets, Bitcoin, Bitcoin Cash, Litecoin, and Ethereum. This was announced as Paypal wants to expand its crypto services business in the coming years. They have partnered with Paxos Trust Company to kickstart crypto services on its platform. It is also planning to aggressively promote its mobile peer to peer payment application, Venmo, in the next year.

It is currently used by more than 28 million merchants across the globe, with 361 million active accounts. PayPal is also planning to acquire Bitgo, a digital asset trust company in its intent to bring cryptocurrency to the mainstream economy, in what could prove to be a tipping point for mass adoption.

With central banks all over the world planning to issue their own digital currencies, PayPal plans to support their efforts and encourage merchants to accept digital currencies for their business. The latest crypto services of PayPal will support different activities like direct deposit, budgeting tools, payment of various bills, shopping integration, and subscription management.

We are a pioneer in the business of Cryptocurrency Payment gateway development. We develop customized multi-currency web and mobile wallets. The features that we offer include lightning-fast processing of transactions, seamless conversion of fiat into crypto, support for different types of digital currencies, provision of private keys to ensure the safety of users, end-to-end data encryption, technical support in numerous languages, and two-factor authentication, multiple payment options through QR code, NFC or URL.

Our services comprise wallet integration, mobile application development, creating API plugins, establishing an OTC desk, and supporting businesses to accept digital payments.

The advantages include low transaction fees, 24-hour withdrawal facility, complete user anonymity, fastest uptime, no chargebacks, and integration with multiple POS systems.

We facilitate faster settlement of payments by following the GAP600 protocol and manage special vaults to keep your digital assets secure.

We support different types of cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, Monero, and Dash. We accept the major fiat currencies like the US Dollar, Euro, GBP, and Russian Ruble.

You can use our platform for a multitude of activities like cryptocurrency invoicing, merchant account management, payment dispute management, and ticketing.

Users can sign up on our platform without even possessing a valid bank account. The members can earn handsomely by joining our variety of affiliate programs. We have also tied up with the leading e-commerce platforms to enable easy shopping. Our services can be used on Android, iOS, and web platforms by merchants, B2B customers, and enterprises.

Our platform is used by the top currency exchanges, banks, multinational companies, Fintech enterprises for retail remittances, corporate payments, trade finance, and payment processing.

Choose us for our world-class features, in-depth knowledge of futuristic technology, on-time delivery without imposing any hidden costs, and reliable technical support throughout the development process.

How Does Our Crypto Payment Gateway Work?

• There is a robust front end processor and a prompt response service in-built into our platform.

• The orders raised by users will be streamlined according to the sequence of coins to be processed.

• We adhere to all the compliance requirements as per the guidelines issued by regulatory bodies from time to time.

• The entire network is secure with an encrypted connection, and the data is immutable across the digital network.

• We are flexible in working with different payment processors.

• A uniform format is used for reading and decoding the different messages of users with the payment processor working on both ends.

• Private keys are issued to every user for handling their wallet independently.

• We also help the user to get associated with more merchants in the industry to follow the standard procedure of payments.

Benefits Of Starting A Crypto Payment Gateway

• Whenever any transaction is initiated online, both the parties involved will be immediately notified if the transaction is successful.

• It can accept multiple modes of payments like debit cards, credit cards, net banking, bank transfer, wire transfer, and wallets.

• The security of the client’s financial information and funds is ensured through refined protective measures ensuring no chance of any hacking or phishing attacks.

• Most of the payment gateways are user-friendly, ensuring a better payment and tracking experience for clients.

• The transaction fees for using cryptocurrencies are comparatively lower as credit card companies charge a 2–4% fee on average.

• Flexibility is ensured as the cryptos can be converted into any fiat currency at the end of each transaction. Withdrawals can be made either through crypto-crypto or crypto-fiat.

• It is irreversible in nature, and money goes straight into the respective users’ accounts, ensuring no chargeback fraud.

The Future in store for Cryptocurrency Payment Gateway Development

As cryptocurrencies continue to progress rapidly with each day, having a simple payment gateway to process transactions will help in strengthening the foundation of businesses operating in the ever-changing digital space. Since there are regions where it is illegal to trade and mine cryptocurrency, business owners need to pursue this business legally by keeping in mind the evolving regulations from time to time.

The future payment gateway will be driven by factors like biometric authentication, mobile payments, NFC contactless payments, Artificial Intelligence, blockchain technology, voice commerce, and the Internet of Things.

Big companies like MasterCard and Visa are planning to expand their portfolio of cryptocurrency products to serve end-users as they have a global reach with consumers, businesses, and banks. However, they must be aware of the history of criminal activity and money laundering around cryptocurrency.

Many feel that cryptocurrencies are the catalyst for the newest payment revolution and may replace the holding of cards and cash in the future. While the hype of cryptocurrencies is currently intensifying in the financial services industry, it is yet to witness mass adoption. There needs to be a daily use case to ensure that crypto becomes mainstream soon. Apart from processing payments, payment companies can offer additional services in the form of investment management and safe storage facilities. Cryptocurrency’s popularity will soar in the future as it is decentralized, safe, and anonymous without the oversight of a centralized authority.

The first-mover advantage is likely to be significant. In case a major country, central bank, or a consortium launch or adopt a particular cryptocurrency, other stakeholders would be pressed to follow with a strategic response of their own.

Complicated national and international gross settlement mechanisms are a hindrance as payments take days to clear, affecting small and midsize businesses. The traditional requirements of having a bank account and a well-documented credit history are leading to difficulty for individuals and institutions to process international payments.

Digital currencies can address these issues conveniently as payments can be authenticated by blockchain technology that prevents alteration of the data. The entire transaction trail can be viewed by different stakeholders. They can also remove the role played by multiple intermediaries like brokers, settlement agencies, market arbitrageurs, price-reporting agencies, benchmark providers, and notaries.

Physical tender is expensive to move, store, and dispense. Hence, banks and financial institutions are automatically drawn to the efficiency of digital cash. Cryptocurrencies could also bring billions of unbanked adults into the financial system. A cryptocurrency’s design will have an impact on its value and long-term competitiveness.

Participants in the current financial system should utilize this time to analyze the potential implication of cryptocurrencies, prepare for the possible disruptions, and strike productive partnerships to maximize the value of digital currencies and influence their direction of development.

Cryptocurrencies cannot thrive within a closed vacuum. They need flexible services to expand their access far and wide to different users and merchants who want to transact with it. Not just financial services, cryptocurrencies can have a big impact on sectors like gaming, e-commerce, real estate, and retail. Hence, it is better to keep an eye on what’s on the horizon and take advantage of the emerging opportunities coming in our way than slowly wait for the change to happen.