Coinbase launches its own PayPal-like!
February 14, 2018 6:30 am,
Coinbase, a digital currency exchange, has been on a rocket ship ride for the last year, since cryptocurrencies have been in the spotlight, signing up a flood of new retail and institutional clients eager to be part of the ongoing crypto craze. But explosive growth has also resulted in a bumpy experience on the customer service front, including complaints of outages and slow response times.
This commerce button will be integrated on merchant websites and used by customers to make payment from four different crypto options.
Making cryptocurrency payments more convenient to use is a difficult task. Consumers often struggle to find platforms or shops accepting this form of payment. Store owners are not too convinced whether or not such payments offer them any benefits.
Therefore, to further up and make its exchange more customer and user-friendly, the cryptocurrency exchange launched this new service for merchants which allows them to seamlessly integrate digital payments with cryptocurrencies by adding a Coinbase Commerce button. Anyone who has the idea or has used the PayPal button previously will understand this new integration quickly.
Not much has been talked regarding this by the exchange itself at the moment. A bare website states that they are still not ready for the new sign-ups, but reports are that some merchants have already started using this services. During the checkout process on the merchant websites that have integrated Coinbase Commerce, users can now select to pay through this new mode and make the payment using any of the four cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
The interesting part to note is which coins as prioritized. Rather than using an alphabetical order, Coinbase Commerce lists Ethereum as the first option. It is a bit unclear why that is the case, but it may be subject to change. Even so, the checkout process for all four currencies appears to be identical and very convenient. Payments can be made by copying the wallet address or scanning a QR code. Whether or not this solution can compete with PayPal, is a different matter, though. Credit cards are still far more convenient and commonly used than these virtual currencies.
Read this for more information about Coinbase: https://www.cnbc.com/2018/01/22/coinbase-leading-us-digital-currency-marketplace-hires-twitter-exec.html