The number one US based cryptocurrency exchange Coinbase has rolled out their new Coinbase Commerce service. Merchants will be able to accept payments in the multiple currencies Coinbase offers(Bitcoin, Bitcoin Cash, Ethereum and Litecoin) directly into their wallets. Coinbase Commerce will not be a hosted service, meaning merchants have full control of their own digital currency.
Coinbase lists the benefits of using their new Commerce service over traditional online payment systems as:
Get Paid Quickly – Payouts are initiated daily – you will receive cash in your bank account in 2-3 business days.
Eliminate Chargebacks and Fraud – Coinbase confirms most bitcoin payments in just a few seconds with zero chargebacks, so costs associated with online fraud are greatly reduced.
Issue Refunds – Refunds can be issued to bitcoin customers by using one simple Coinbase API call.
Coinbase Commerce will be available globally and anyone can sign up with just an e-mail address and phone number. It can be directly integrated into a merchant’s checkout platform or added as an additional payment option. Coinbase is currently working with many of the largest online e-commerce platforms to include the service to their current systems. They have recently finished integrations and added the Coinbase Commerce payment option with Shopify.