Cryptocurrency Payments

Cryptocurrency Payments extension allows the customers of your Magento 2 store to pay via cryptocurrencies at checkout time. 

The admin can configure multiple crypto payment methods from the admin backend panel. Apart from that, the admin can also restrict the crypto payment methods depending on the customer groups, currencies, and carriers as required.

Business Value

Revolutionize your online business and tap into the incredible potential of cryptocurrencies. Embrace the digital revolution and cater to the evolving needs of your tech-savvy customers with this cryptocurrency payment method for your store. 

With the rising popularity of cryptocurrencies, customers are actively seeking ways to transact using their digital assets. By integrating this extension into your store, you can provide your customers with the convenience they crave. It enables them to make purchases using Bitcoin, Ethereum, Litecoin, and other popular cryptocurrencies, fostering a frictionless checkout process.

Account & Pricing

• We have integrated the https://exchangerate.host/#/ API in the extension code that automatically provides the conversion rates for the product price in real-time at the checkout in cryptocurrency value. 
• This is a free API that we have used, so there are no charges applicable for the same.
• Also, no account creation has to be made for the same.  

Security & PCI Compliance

The entire payment process does not require the customer’s wallet address to be stored on the Magento 2 server, ensuring a secure payment process. 

The customer just needs to scan or enter the wallet address to make the payment to the website owner and the rest of the payment process is taken care of by the blockchain itself. So all of the security and compliance is done at the end of the blockchain system, hence is secure.

The customer is not redirected to any third-party platform for making the payment. They can make use of their cryptocurrency wallet to make the payment manually to the other wallet address. 

Also, after the admin realizes the payment is received the admin can further process the order processing.

Features

• Customers can pay with cryptocurrencies for the orders placed within your store.
• The admin can add, edit, and delete crypto payment methods.
• Wallet QR Code can be displayed on the checkout and on the respective order details page.
• A payment reminder email is sent to the customer.
• The customer receives the transaction mail.
• Payment receipt mail is sent to the customer after the crypto payment is confirmed.
• Specify how many reminders will be sent to customers and over what period of time.
• The admin can specify the number of days after which the order gets canceled automatically if the customer did not make the payment.
• For specific customer groups, currencies, and carriers the admin can restrict crypto payment methods.
• Display crypto payment methods in a flat or dropdown list as required at the checkout time.
• The admin can set a custom title for the crypto payment method.
• On the order details page the customers can view the crypto payment details.

How does this extension Work?

Store Admin Workflow

After installing the extension, the Magento 2 store admin will make the initial configuration settings for the extension.

Initial Configuration Settings

To make the initial configuration settings, the admin will  -

• Enable or disable the BitCoin and Crypto Payment method for checkout.
• Setting up the title for the crypto payment method visible at the checkout to customers.
• Choose to display the wallet address as a QR code with wallet details to the customers.
• Choose the payment listing style at the checkout as a Flat or Drop-down option.
• Enable the mail to admin on the payment confirmation.
• Enable sending a payment reminder mail to the customer.
• Choose the number of reminder emails to send to the customer.
• Set the reminder interval as required between the emails.

Lastly, save the configuration settings.

Create Multiple Crypto Payment Methods

To create a crypto payment method, the admin will have to -  

• Enter the crypto payment name to display to the customers at checkout time.
• Set the unit for the crypto payment like – BTC, XRP, ETH, etc.
• Enter the wallet address to receive the payment from the customer.
• Enter the number of decimal places you want to display for the cryptocurrency.
• Select the customer groups to whom this crypto payment will be accessible.
• Select the currencies for which the crypto payment method will be accessible.
• Select the carriers for which the crypto payment method is accessible.
• Set the position of the crypto payment method.
• Enable the crypto payment method.

Lastly, tap the Save button to save the crypto payment method.

Crypto Payments at Checkout Page

Once a customer has added products to the cart, he can view the crypto payment method under the payment methods when he proceeds to checkout on the review & payments page.

The customer can choose the crypto payment method as required and can proceed further by tapping the place order button. This brings up a pop-up with the crypto wallet address in which the customer needs to make the payment using his crypto wallet.

Tapping the place order button will place the order for the product and the product will be reserved for a set number of days. If the customer makes a payment within that period then the product will be shipped else after the reserved days the order will automatically get canceled. 

After placing the order and making the payment on the crypto wallet address of the cryptocurrency the customer gets a transaction id. This needs to be entered under the respective order details page and when the transaction id is verified by the admin the admin can further process the orders as per the default functionality of the Magento 2 store. 

Benefits

For Store Owner

• The admin can take payments via cryptocurrencies in their store.
• Cryptocurrencies facilitate cross-border transactions without the hassles of exchange rates or intermediary banks.
• The admin can expand their customer base by providing the cryptocurrency payment method in their store.
• The admin can ensures that all transactions are secure and tamper-proof, mitigating the risk of fraud and chargebacks.
• Cryptocurrency transactions are lightning-fast, providing a seamless shopping experience for your customers and reducing cart abandonment rates.
• It seamlessly integrates into your existing store, minimizing downtime and technical complexities.

For Customers

• Customers can make purchases using Bitcoin, Ethereum, Litecoin, and other popular cryptocurrencies, fostering a frictionless checkout process.

Support Policy

• You get free 3 months of technical support included.
• You can buy a 6 or 12-month extended support agreement.
• For issues, please create a ticket or send an email to support@webkul.com
• Free lifetime updates of the module.