CoinGate is a payment gateway that offers payments using Bitcoin and Litecoin. The crypto payment service has recently integrated Binance Pay on its platform.
It means that the users who have been using Binance Pay services can now access the same with their user log-in on CoinGate. Online merchants stand to benefit from this integration the most.
The news about this new crypto venture was shared by Finbold recently. Using this option, companies that are operational throughout the globe would extend payment facilities to their international clientele.
E-commerce platforms can use CoinGate to allow users to make payments using their Binance Pay accounts.
Any website that has adopted CoinGate as a payment bridge has now become more accessible for Binance users. Retail investors can make direct payments to CoinGate merchants from their Binance wallets. Speaking on the matter CoinGate CEO Justas Paulius has commented that this venture is going to increase greater crypto adoption.
He mentioned that partnering with Binance Pay was one of the biggest projects for the firm. To make Binance Pay integration seamless and easier, the firm has decided to introduce APIs.
The first three months for the merchants joining this service option are fee-free. After 3 months, they will pay a fee of 0.3% until they deactivate the service.
Online Merchants can Benefit from the new CoinGate Integration
Several online merchants can benefit from incorporating CoinGate services. Merchants can open their gates to the international clientele by accessing crypto payment options using the Binance Pay extension. The existing customers might also be tempted to try out the new payment options, and it is seen as a way to streamline and standardize crypto payments.
Binance Pay and CoinGate partnership signals a new chapter of monetary payments and financial innovation. There is an increasing notion in the financial world about the ongoing setbacks related to the cryptocurrency markets.
However, a recent report published by CoinGate reveals that crypto payment adoption on e-commerce platforms was appreciated by 60% during 2022.