Hello All!
As you probably know, the only Cryptocurrency widely used as a payment method is still Bitcoin. There are many payment processors and merchant systems letting you accept BTC payments. However, recently Bitcoin became so slow and expensive that it is almost useless as a payment method.
The most logical solution is to switch to a currency that offers better confirmation times, lower fees and more stable conversion rate. This is Ethereum.
Many of you asked the same question (here and in other forums): "How do I accept Ethereum on my website?". There was no answer several months ago.
Although Crypto currencies are anonymous and decentralised by design, meaning anyone can start using them without having to pass complicated signups and checks, unfortunately there are not many solutions for merchants providing the same simplicity and flexibility. Most of them still follow the traditional logic of a classic payment processor: a merchant signs up, gets approved by the system (not all countries or businesses may be supported), then the money is accumulated by the payment processor and paid out to the merchant monthly.
Today we are presenting a truly simple merchant solution where no signup is required for merchants. You can just use our API to start accepting Ethereum (and other crypto currencies, read below) on your website NOW.
A couple of words about how it works technically. When a client needs to pay for some goods or services on your website, you can offer them ETH payments. We provide a standard GET API, no keys are required to access it. The API returns a new ETH address that can be shown to a customer (we also provide a nice payment form to do that). Once the payment is received, you will get a callback to the URL you specify, this way you can show the order as paid in realtime to your customer and mark it as processed in your database. If you are selling online services, your customer will be able to get them immediately. A typical confirmation time for ETH payments is currently about 1-2 minutes. Unlike other systems, we do not hold or accumulate the merchants' money. The payouts are sent immediately to the wallet of your choice.
"Ok, how much is your service?" you would probably ask. We do not charge any fees for payments under 0.006 ETH (about $2.40 currently). For bigger payments we charge 0.5% with a maximum of 30 cents. Ethereum sending fee (gas, currently about 1-2 cents) is applied to all transactions. This means for a typical e-commerce order of $100 will only cost you 0.31% (31 cents) in fees.
The system is up and running right now. You can get more details and download the sample code from
www.paybear.ioWe are also working hard to implement more features and currencies (BCH and BTC are already being tested and will be released very soon). If you have any questions or suggestions, please join our telegram @paybear or shoot us a message at
contact@paybear.ioFor a limited time we offer FREE integration support. If you want to use our system but don't know how to do it, please email us and we will get back to you within 24 hours.
We will also offer bounties for developers, which means if you are capable of writing a shopping cart plugin or any other integration, please contact us.
