Wix has integrated CoinGate into its platform

The integration of crypto payment processors with leading technology companies is a significant aspect of the cryptocurrency industry. The increasing use of cryptocurrencies as a means of payment among merchants is a sign that this trend is likely to continue.

One of the biggest players in this space is CoinGate, a leading European crypto payment gateway, which recently announced an integration with Wix.com, a popular website building platform.

Transaction simplification

On January 10, CoinGate announced that it had partnered with Wix to accept crypto payments from customers in Germany, Lithuania, Spain and the Netherlands. This means that German, Lithuanian, Dutch and Spanish Wix store owners now have access to the CoinGate eCommerce payment gateway. Wix merchants who choose to integrate CoinGate as their payment processor can accept Bitcoin (including Lightning Network payments) and over 70 other cryptocurrencies from their customers.

One of the most important aspects of this integration is that businesses are now able to convert any cryptocurrency received into a single fiat currency such as EUR, USD or GBP and pay them out accordingly. This is especially beneficial for companies operating in different countries, as it simplifies the administration and withdrawal of funds.

CoinGate CEO Justas Paulius believes that this partnership will inspire more companies to take advantage of the cryptocurrency markets. By being able to serve a larger number of customers who either only use cryptocurrencies or don’t have access to traditional payment methods like banks and credit cards, Paulius believes this partnership will help businesses grow and reach new markets.

Crypto payments in e-commerce

In his statement, Paulius said: “Cryptocurrencies are inseparable from the everyday reality of people around the world. Our goal is to enable everyone to participate in the global economy, whether they have a bank account or use a credit card, while providing merchants a convenient way to serve them. I believe our partnership with Wix brings us one step closer to our goal.” He added: “With more than 300 million cryptocurrency users around the world, having a cryptocurrency payment method in your store as an additional way to generate sales can be the game changer that gives certain businesses a competitive edge.”

It is worth noting that on January 4, CoinGate reported that the volume of crypto payments in e-commerce will grow by over 60% in 2022, despite the fact that the crypto market is undergoing a sharp correction. This is a strong indication that integrating crypto payment processors with leading technology companies is not only possible but desirable for businesses in today’s world. With more and more people using cryptocurrencies as a means of payment, it is clear that this trend is not going away anytime soon. Therefore, businesses should consider integrating crypto payment processors to stay competitive and meet their customers’ needs in the digital economy.

Conclusion

The integration of crypto payment processors with leading technology companies, such as the partnership between CoinGate and Wix, for example, offers companies a convenient way to serve a larger customer base and reach new markets by accepting payments in different cryptocurrencies and converting them into a single fiat – currency. Despite a crypto market correction in 2022, crypto payment traffic in e-commerce continues to grow, suggesting that crypto payment processors will be an important aspect for businesses to remain competitive in the digital economy.

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