Digital asset exchange Bitfinex announced on Wednesday its payment technology Bitfinex Pay is now allowing online merchants a means of receiving contactless and borderless digital token payments. Bitfinex reported that the Bitfinex Pay widget can be integrated on to a website and users may pay with Ethereum (ETH), bitcoin (BTC), Lightning Network BTC (LN-BTC), and Tether tokens (USDt) via Ethereum or Tron. Payments made through Bitfinex Pay will be directly deposited into a merchant’s exchange wallet on Bitfinex.
“Customers of a merchant that has integrated the payment technology simply click on the Bitfinex Pay button and are seamlessly directed to the Bitfinex payment gateway. After payment is made using a cryptocurrency accepted by the merchant, a customer will be redirected back to the merchant’s website.”
Bitfinex further revealed the value of payments made by each customer using Bitfinex Pay is capped at US$1,000. While there are no processing fees for using Bitfinex Pay, any transaction fees incurred on the relevant blockchain will be borne by online merchants and their customers. Bitfinex went on to add:
“To get started with Bitfinex Pay, eligible merchants will first need to register for a Bitfinex account, verify the account to at least the intermediate level and apply for merchant verification. Upon successful verification, a merchant sub-account can be created. Merchants can then integrate the Bitfinex Pay widget on to their websites.”