Coinbase Brings Crypto Payment Option to Millions of Online Merchants
Coinbase Commerce, a cryptocurrency payment provider, has announced a series of initiatives to support crypto commerce, including a WooCommerce plugin to give millions of merchants the option to accept cryptocurrencies, the ability to send bitcoin and litecoin directly, and other new capabilities. Coinbase believes the improved access will support adoption of cryptocurrency and a more open financial system.
The WooCommerce plugin, a WordPress e-commerce platform, currently supports more than 28% of all online stores, all of which now have the ability to accept cryptocurrency from customers worldwide, Coinbase noted on its blog.
Users can install the WooCommerce payment gateway from GitHub, from which they can download a zip file of the repository.
Coinbase earlier this year announced its plan to allow merchants to accept multiple cryptocurrencies within a user-controlled wallet. While the platform was designed to be a significant upgrade for merchants, it requires them to migrate to a new system, according to Reddit, which noted that some businesses — especially those with low cryptocurrency payment volumes — could decide it is not worth the effort.
In March, Reddit, which began accepting bitcoin payments for its Reddit Gold subscriptions in 2013, announced it was no longer accepting bitcoin payments for its premium membership program after a user found she could not use bitcoin to gift another user a subscription. Reddit noted it was going to evaluate the demand and the progress of Coinbase Commerce.