Coinbase Simplifies Merchant Payment Process By Enabling Direct Access To Coinbase Commerce
Coinbase Commerce, an arm of the Coinbase cryptocurrency exchange made for institutional investors has integrated a merchant payment service within the Coinbase app. The integration of this service would allow investors to pay for their goods and services from their Coinbase account.
Earlier investors had to go through a long complex process of copying complex cryptocurrency addresses as well as long decimals of amounts. Now, these investors can simply log in to their accounts and select the wallet they want to make the payment from. However, those who wish to use another wallet or don't have a Coinbase account can still do the same.
Coinbase said that the integration would make the payment process hassle-free and more efficient as merchants do not need to manually re-verify the amount with the exchange rate. The blog post announcing the launch of the service reads,
“Not only does this simplify the customer experience, it also reduces the operational burden on merchants to resolve issues with payments. Cryptocurrency wallets pull exchange rates from various sources, which may have slight variations that cause payments to be a couple of cents over or under what was expected.”
Coinbase is working towards bringing the institutional investors to the crypto world with its services like Coinbase Commerce. The firm says that investors would still have the choice to decide whether they want to use the Coinbase wallet to make the payment process smooth and easy or want to stick to their external wallets.