A new service called PayCoiner aims to help businesses adopt cryptocurrencies. The London-based company offers a cryptocurrency payment gateway platform designed to simplify payments with bitcoin and other cryptocurrencies.
Found online at PayCoiner.com, the SaaS platform lets you pay for products and services using cryptocurrencies as easily as you would use a traditional payment method with cryptocurrencies. The process is “risk-free, completely secure with provable results” according to the website.
PayCoiner is particularly targeted towards e-commerce merchants. With PayCoiner, an e-commerce company can quickly start accepting cryptocurrencies for transactions. The first step is to register, then choose a plan. From there, the e-commerce provider simply installs a plugin. PayCoiner also offers a PHP library or an API for more customized implementations.
In terms of fees, PayCoiner charges as little as 0.45% per transaction. PayCoiner will also freeze the exchange rate at the beginning of the transaction – so even if the exchange rate for the cryptocurrency has fluctuated since the customer clicked to purchase the item, the customer pays the rate they saw when the first clicked on the item.
PayCoiner emphasizes all of the following features:
Low Fees And Simple Pricing:
PayCoiner claims they don’t charge the merchant “any fees or commission”. Instead, they deduct a percentage directly from the total cost of the product or service. It’s unclear how this differs from a fee or commission, but PayCoiner’s fees start at around 0.45%. The company claims that fees can be included in the price of the product or service, or the business can choose to add fees to the customer’s purchase price.
PayCoiner emphasizes safety. The product is designed by Verified Solutions, a proven payment platform provider. Verified Solutions, according to the official website, “has experienced specialists that ensure all the products and transactions are safe.”
Supports Multiple Cryptocurrencies:
PayCoiner supports a variety of different cryptocurrencies, including bitcoin, Ethereum, IOTA, Bitoin Cash, Dash, Litecoin, Qtum, Ripple, Nano, Lisk, Bytecoin, Verge, and others. The company claims they can implement a new coin in just a few hours or a few days – so if there’s a demand for a new cryptocurrency that they don’t currently support, then it’s easy to add.
Can Be Implemented Into Crypto Exchanges:
PayCoiner can be implemented into cryptocurrency exchanges, forex brokerage platforms, and other interested platforms. As mentioned above, the company has a plugin, a PHP library, and an API. The API is advertised as a way for exchanges to save time, funds, and other resources because, “you do not need to understand how every cryptocurrency works, this part is done by us.”
Secure System Architecture:
PayCoiner’s SaaS platform is advertised as a convenient and safe solution. PayCoiner customers get separate servers, and every cryptocurrency gets its own full node. Servers with private keys don’t allow any incoming requests, and they connect to the internet only when communication with other system modules is needed. PayCoiner also claims to have advanced protection against DDoS attacks and systems that detect anomalies right away. Plus, data is encrypted on each cycle, and PayCoiner outsources penetration tests to outside auditors.
PayCoiner has multi-factor authentication and authorization systems available to users, including SMS codes, email codes, Google OTP, and more.
PayCoiner’s assets are all automatically sent to cold wallets, and private keys are not stored digitally, but in paper wallets.
Who’s Behind PayCoiner?
PayCoiner was developed by Verified Solutions, a software company based in London, UK. The company is led by Peiam Arad (CEO), Adam Bicz (CTO and Co-Founder), and Kajetan Maćkowiak (CMO and Co-Founder).
Prior to working as CEO of PayCoiner, Arad was the Vice President of Sales & Business Development at JP Morgan’s Merchant Services division in Dublin. He also served as the Executive General Manager for iSignthis Ltd. before founding Moketi in Frankfurt in March 2016. He’s still listed as the founder of Moketi in his LinkedIn profile.
Verified Solutions specializes in creating software for the blockchain and crypto space. They’ve previously been known for services like BuyCoinNow, an online crypto payment processing platform.
Ultimately, as cryptocurrency becomes more and more popular, businesses – particularly e-commerce businesses – are looking for ways to add crypto to their platform. PayCoiner is a London-based company that offers a plugin, a PHP library, and an API that all do exactly that. To learn more about PayCoiner and how it works, visit online today at PayCoiner.com.