The U.S.-based cryptocurrency exchange Coinbase announced Friday the launch of its own PayPal-like payment service platform for Cryptocurrencies, called Coinbase Commerce, to be available for merchants around the world starting today.
The company said this platform will make it easy for merchants to accept payments in digital currencies such as Bitcoin, Bitcoin Cash, Ethereum and Litecoin directly into a user-controlled wallet.
"Coinbase Commerce can be directly integrated into a merchant's checkout flow or added as a payment option on an e-commerce platform. With just an email address and a phone, merchants can sign up and begin accepting payments in Bitcoin, Bitcoin Cash, Ethereum and Litecoin," Coinbase stated.
The dashboard interface on the payment platform displays the list of wallet balance held in all the supported cryptocurrencies.
Coinbase said it has already integrated the platform with multi-channel commerce platform Shopify, and is in the process integrating more of them.
Shopify allows users to launch their own online stores, and now it has integrated the option to accept payments in cryptocurrencies via Coinbase Commerce.
However, the Coinbase Commerce cryptocurrency payment platform is not yet going to be as popular as PayPal as the current volatility in the digital currency makes it difficult to fix the payment amount. This has been the case with some gaming platforms also where they have lately stopped accepting digital currencies.
Early this month, Australia's Brisbane airport had partnered with local start-up TravelbyBit to launch the world's first digital currency airport terminal.
TravelbyBit, which promotes itself as a digital currency expert, has built a network of merchants throughout Brisbane who take payments in digital currencies. Its payment system accepts Bitcoin, Dash, Ethereum, and other digital currencies.
Currently, there are many well known firms across the world including Microsoft, Expedia, Subway, Lush, Target, CVS, WordPress.com, Overstock, Dominos Pizza and PayPal, who accept bitcoin as a means of payment.
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