A new opportunity is up for Europeans. The platform called Coingate, whith the headquarter in Vilnius, has become a partner with Paris-based Prestashop: “an open source ecommerce solution”.
The combination between a crypto payment network and an e-commerce solution platform is an opportunity for users enthusiastic about the use of digital coins, as well as encouraging their adoption.
Encouraging adoption of cryptocurrency is a priority for Coingate
The CEO of Coingate, Dmitrijus Borisenka stated that “Encouraging adoption among people beyond the tech-savvy early-adopters is one of the biggest priorities for us. Prestashop has an ideal base of small to medium stores that may well utilise cryptocurrencies not only as an innovative and increasingly popular payment method, which is much cheaper than traditional card payments, but also the promotional benefits that the Bitcoin tag carries.”
Over 80.000 new European merchants gain option to accept cryptocurrency
The new collaboration is expected to raise over 80,000 European merchants. The concept of this project is to provide more efficient services by combining two providers of crypto payment services. Thus, it’s also desirable to reduce the time dedicated to perform the payment operations.
“There is an entire new market of people who own all kinds of cryptocurrencies and are looking for ways to spend them, but the gap between customers and merchants in this sphere is still huge. It is therefore crucial to educate and encourage businesses to adopt a forward-thinking attitude and to overcome the prevailing misconceptions that surround cryptocurrencies.”, added Mr. Borisenka.
Bitcoin Cash and other 50 crypto currencies are accepted
After the collaboration succeeds, teams promise users a low payout time. The common payment method will support Bitcoin Cash, Bitcoin and other 50 crypto currencies. From a merchant’s perspective, this project is a unique opportunity that includes an advanced cryptographic network. An advantage for traders is that payments are realized in a currency that the trader prefers.
Mr. Borisenka, the CEO of Coingate encourages the use of crypto assets in payment methods as a safe financial resource. He added that “We protect our merchants from exchange rate volatility risk by locking the price of Bitcoin at the moment of the purchase. Merchants who opt to receive Euro payouts from us, essentially, do not have to touch cryptocurrencies at all – we handle every stage of the process.”
The settlements are realized only in two days, and here is where the volatility issue occurs. Both companies have experience on international markets. For example, Coingate owns 1,500 accounts and 50,000 users worldwide, and a € 10 million profit per month. On the other hand, Prestashop owns about 250,000 online stores in about 200 countries.
Both of the companies have a positive reputation and high attention from users. That’s why, in combination, these two will create a revolution in the crypto payment industry.