Paxful, a globally accessible peer-to-peer marketplace supporting transactions with Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), reveals that its digital commerce solution has been allowing businesses and individuals to seamlessly receive and send payments. Paxful now supports nearly 400 different payment methods on its platform.
At present, the Paxful Pay service is available and lets clients pay with around 400 payment methods – exchanging into BTC that’s sent to the merchant’s digital wallet.
Businesses are able to register now so they can add Paxful Pay as a purchase option during their online checkout process.
Via Paxful Pay, companies or businesses have the option to easily manage their earnings and convert Bitcoin, Ethereum, or USDT to their local currency through the Paxful Marketplace using hundreds of different payment options.
Merchants are also able to have control over the configuration of the solution on their Paxful Merchant Dashboard and may keep track of all incoming/outgoing transactions.
Paxful says that it is now expecting to further expand to support other virtual currencies and also intends to offer automatic conversion into stablecoins like Tether (USDT).
The firm’s management also said that Paxful Pay will be allowing merchants (in the near future) to automatically convert BTC into their local currency within their bank account.
Clients may expect the typical digital commerce flow, however, they’ll now have the option to also choose Paxful Pay as a payment method.
At present, Paxful has more than a hundred merchants on Paxful Pay. As the firm continues to improve and expand the service, it’s expecting to onboard several new merchants in the coming weeks. After that, Paxful Pay will be expanding its services more generally, the company revealed.
Established in 2015 and fully bootstrapped since that time, Paxful currently maintains its head offices in New York with additional business locations in Estonia, the Philippines and Russia.
Ray Youssef, CEO and co-founder of Paxful, stated:
“In many regions across the globe, we see people use bitcoin as a financial tool for purchasing goods and services. Bitcoin has several different use cases that we’ve only begun to leverage and e-commerce is a great example. At Paxful, it’s imperative that we give users and businesses around the world the opportunity to take advantage of the power of bitcoin to gain financial freedom.”
Artur Schaback, COO and Co-Founder of Paxful, remarked:
“We’re thrilled to bring Paxful Pay to our global community. There is a clear need to offer local options for bitcoin and this product is a culmination of our efforts to deliver on that demand. By offering users the ability to complete purchases using almost 400 payment methods, they will now have an even stronger financial solution at their fingertips. We cannot wait to expand this offering to encompass as many merchants as possible.”