Modern businesses need reliable cryptocurrency payment processing solutions to improve their profitability and productivity. As more consumers prefer to pay for products and services in cryptocurrency, a reliable crypto payment gateway enables businesses to generate global sales without bearing the delays and transaction fees of traditional banking.
The most difficult thing for a business is choosing the best crypto processing solution, since there are so many of them out there. To help you find the best one, we have compiled a list of the top 7 crypto processing solutions that can drastically improve business efficiency.
1) ChangeNOW
ChangeNOW offers a comprehensive suite of crypto-processing solutions for small and medium-sized enterprises looking to process cryptocurrency payments online securely. ChangeNOW’s Crypto Exchange API seamlessly integrates with existing e-commerce platforms, making more than 1,500 crypto and fiat assets available for exchange across over 110 blockchain networks. Businesses can also build a cryptocurrency payment processing solution from scratch if desired.
Both web platforms and mobile apps are compatible with ChangeNOW’s API, Exchange Module, and Top-Up Module. The API performance metrics include a 350-millisecond response time, a 10-minute accident warning time, and a 99.99% availability rate. It can even enable your customers to directly onboard into fiat-to-crypto exchanges on your platform at the best possible market rates with both standard and fixed-rate options. It is the ideal way to offer greater flexibility and security for payment processing on your platform.
Businesses can fully customize the profit options associated with the ChangeNOW payment processing solution, including setting processing fees and exchange pair commissions starting at 0.4%. Once you receive the cryptocurrency payments in your crypto exchange wallet, you may withdraw the profits at any time in up to 11 different cryptocurrencies of your choice. Fiat currency withdrawal options are also available.
ChangeNOW is certified with SOC-2 and ISO 27001 standards. The American Institute of Public Accountants (AICPA) created the SOC-2 (Service Organization Control 2) standards to help ensure crypto processors have strict controls in place to secure user data and privacy. The Information Security Management System (ISMS) set the ISO 27001 international standard for protecting sensitive organizational data by using a systematic, risk management approach. ChangeNOW has satisfied both standards.
2) BitPay
BitPay is a well-established crypto processing solution founded in 2011, making it one of the oldest crypto payment processors online. It is especially efficient for businesses looking to accept crypto payments from customers without significant exchange rate volatility.
BitPay is best known for its volatility shield. When a customer makes a crypto payment, the exchange rate between the cryptocurrency and fiat currency is locked as soon as the transaction is initiated. The funds will be deposited into the merchant’s crypto wallet in their local fiat currency, such as USD or EUR.
BitPay accepts Bitcoin, Ethereum, and over 100 other types of cryptocurrencies in more than 200 countries and territories worldwide. Any business looking to accept international payments may want to consider BitPay as a viable crypto-processing solution for its platform.
3) Coinbase
Everybody has probably heard of Coinbase by now. It is one of the most popular and commercialized crypto processing solutions online. Many American small businesses and merchants looking to expand into crypto payments may want to start with Coinbase for its simplicity and user-friendliness. It is also a trusted brand name used by millions of people worldwide.
Coinbase enables small businesses to integrate crypto payment options into their checkout screens. It supports more than 150 cryptocurrencies and charges a fixed 1% fee per transaction. Merchants may exchange crypto payments into USDC to reduce volatility in rates.
Most new commercial users will want to start with a self-managed Coinbase account to have more control over their private keys and make direct crypto payments. However, you may want to use a managed Coinbase account for professional management of your technical security, asset custody, and settlement.
4) PayPal
PayPal has been the leading payment gateway for online businesses for the past two decades. However, it has only recently expanded into the cryptocurrency sector by allowing American small businesses to accept cryptocurrency payments through PayPal’s “Pay with Crypto” service.
Merchants can use PayPal to accept payments in more than 100 cryptocurrencies and then convert them into either a local fiat currency or the PayPal stablecoin (PYUSD). By converting into PYUSD, merchants can earn an annual interest rate of 3.7% on their holdings.
Meanwhile, customers are charged no transaction fee when they convert their cryptocurrency payment to the merchant’s local fiat currency at checkout. It enables customers worldwide to pay for items anywhere using their PayPal cryptocurrency balance. E-commerce sites that choose to accept cryptocurrency payments will open themselves to a much broader consumer base that spans the globe.
5) CoinPayments
CoinPayments is a crypto processing solution that has made a name for itself in recent years. It focuses heavily on increasing volume and variety for its commercial users. The CoinPayments custodial wallet can accept and store more than 2,000 cryptocurrencies and tokens. Merchants accepting payments on their websites can process over 100 major cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin.
CoinPayments is not suited for all small and medium-sized enterprises. It caters more to businesses in high-risk industries, such as iGaming and Forex. Still, merchants are protected from cryptocurrency volatility, thanks to the automatic coin conversion feature. Once you receive the crypto coins, you may protect them by storing them away in the CoinPayments vault.
6) Crypto.com
Crypto.com allows businesses to accept cryptocurrency payments from customers, online or in person, without processing fees. Just generate a QR code for customers to scan if you want to accept crypto payments at a brick-and-mortar store.
The Crypto.com “Pay for Business” solution can be integrated into online stores using popular e-commerce platforms such as WooCommerce, Magento, and Shopify. Merchants can also use it to set up invoices, subscriptions, and recurring payments with customers who want to continue paying in crypto.
7) PaymentCloud
PaymentCloud is another popular crypto processing solution for high-risk merchants, thanks to its nearly 98% account approval rate, dedicated account manager, and high level of flexibility. If other payment processors have rejected your application for whatever reason, then you may find better luck turning to PaymentCloud.
In September 2022, PaymentCloud established a partnership with RocketFuel Blockchain to provide “Pay with Crypto” services to businesses. The fees are far higher for merchants, but it is a viable solution for desperate merchants who cannot get approved anywhere else.
PaymentCloud accepts over 120 cryptocurrencies and over 1,000 plug-and-play integration options. It even supports crypto microtransactions and one-click cryptocurrency checkouts.
Conclusion
Businesses need a reliable crypto payment processing solution to increase efficiency. ChangeNOW is the most recommended solution of the abovementioned list. It offers white label crypto exchange integration with fully customizable fees, commissions, and payment solutions. Small and medium-sized enterprises can easily use the comprehensive API documentation to adapt the API to their platform quickly.
If you ever have any questions, you will have access to ChangeNOW’s dedicated support team and personal manager 24 hours a day, 7 days a week.
