Cryptocurrency trading platform, has announced the launch of Bitfinex Pay, a cryptocurrency payment gateway.
This payment technology will enable online merchants to accept contactless and borderless payments in various cryptocurrencies on their websites. Merchants can create a widget and start accepting payments in Ethereum, Bitcoin Lightning Network BTC (LN-BTC), and Tether tokens (USDt) via Ethereum or Tron. Payments made through the Bitfinex Pay widget will be directly deposited into a merchant’s exchange wallet on Bitfinex.
Bitfinex’s widget works a bit like the “Buy Now with PayPal” button. When you click on the Bitfinex Pay button, you’re redirected to the cryptocurrency company’s website. Once your payment is approved, you’re redirected back to the original merchant 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.
How To Get Started With Bitfinex Pay
According to Bitfinex,
“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.”