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Understanding cryptocurrency payments
Before we embark on the journey of accepting crypto payments on Prestashop, let’s take a moment to understand what cryptocurrencies are. Essentially, cryptocurrencies are digital forms of money that operate independently of traditional banking systems. They utilize a secure technology called blockchain to record and verify transactions, providing a modern and efficient way of handling money, often with lower fees compared to traditional methods. Users store their digital assets in digital wallets, each with a unique address for sending and receiving payments. Cryptocurrency payments are gaining popularity for online shopping due to their safety, privacy, and global accessibility.
Why you should accept crypto payments on prestashop
Below, we highlight key benefits, and for a more comprehensive understanding, explore our dedicated blog on the advantages of cryptocurrency payments.
- Low transaction fees: Cryptocurrency transactions often come with lower fees compared to traditional payment methods.
- No chargebacks: Transactions made with cryptocurrencies are irreversible, eliminating the risk of chargebacks.
- Fast access to funds: Cryptocurrency transactions provide quick access to funds, enhancing cash flow for merchants.
- Safety and privacy: Cryptocurrencies offer a secure and private payment method, reducing the risk of fraud.
- Global accessibility and cost savings: Cryptocurrencies can be used globally, eliminating the need for currency conversions and associated costs.
- Building trust and attracting tech-savvy customers: Accepting cryptocurrencies can enhance trust among tech-savvy customers, positioning your store as innovative and forward-thinking.
Best practices for accepting crypto payments on Prestashop
Now that we’ve explored the benefits of accepting crypto payments on Prestashop, let’s discuss the best practices for integrating this payment method into your online store. The process involves selecting a reliable cryptocurrency payment gateway compatible with Prestashop. Here are some key considerations:
Choose a trusted cryptocurrency payment gateway
Selecting a reputable cryptocurrency payment gateway is crucial for a seamless integration. Look for gateways that offer secure transactions, support a variety of cryptocurrencies, and provide user-friendly interfaces.
Check transaction fees
Evaluate the transaction fees associated with each cryptocurrency payment gateway. While some gateways may charge flat fees, others may have tiered pricing based on transaction volumes. Choose a gateway with fees that align with your business model.
Ensure Prestashop compatibility
Verify that the chosen cryptocurrency payment gateway is compatible with Prestashop. Most reputable gateways provide plugins or integrations specifically designed for Prestashop, simplifying the setup process.
Provide clear information to customers
Clearly communicate to your customers that you accept cryptocurrency payments. Display supported cryptocurrencies, transaction processes, and any additional information on your website to enhance transparency.
Best rated Prestashop crypto payment gateways
Choosing the right PrestaShop crypto payment gateway is crucial. As you enter the world of PrestaShop and explore cryptocurrency payments, let us introduce you to the best PrestaShop crypto payment gateways. These platforms are carefully crafted to smoothly incorporate cryptocurrencies into your PrestaShop e-commerce system, making it easy for you to accept digital assets.
1. FCF Pay
FCF Pay stands out as our top-rated cryptocurrency payment gateway, setting the bar high with its mission to simplify crypto payments seamlessly. With an impressive rating of 8.9, it proves to be a game-changer in the cryptocurrency industry, earning recognition for innovation at the Dubai Crypto Expo, where it secured the award for the ‘Most Innovative Project of 2022’.Transaction fees
FCF Pay boasts some of the lowest transaction fees in the industry, making it an appealing choice for businesses of varying sizes. For companies generating over €50,000 in crypto transaction volume, fees plummet to as low as 0.5%. The tiered structure ensures cost-effectiveness, with fees of 1% for businesses generating between €10,000 and €50,000, and 1.5% for those under €10,000. These competitive rates position FCF Pay as a cost-efficient solution,Accepted currencies
FCF Pay empowers merchants to choose from an extensive selection of over 80 cryptocurrencies for accepting payments. This flexibility enables businesses to cater to a broad audience, including well-known cryptocurrencies like Bitcoin, Ethereum, and USDT.Functionalities
FCF Pay provides a range of advanced features to improve both merchant and customer experiences. These include Smart Swap for volatility protection, partnerships for easy cryptocurrency-to-fiat transfers, versatile online and offline payment gateways, an invoicing system for streamlined transactions, a white-label solution for customizable branding and a donation widget for easy crypto donations.Integration
FCF Pay seamlessly integrates with PrestaShop, streamlining the process through a pre-built integration. Using their detailed documentation, you can install and accept crypto payments within minutes. Merchants also have the option for a more customized integration using the platform’s API connection.Summary
In summary, FCF Pay, our top-rated crypto payment gateway, stands out with an 8.9 rating and recognition for innovation. Offering low fees as low as 0.5%, it supports 80+ cryptocurrencies. Advanced features include Smart Swap, partnerships for easy crypto-to-fiat transfers, and versatile payment gateways. For PrestaShop, FCF Pay ensures seamless integration with a pre-built setup or a customizable API connection, making crypto payment acceptance efficient.
2. NOWPayments
NOWPayments is a noncustodial cryptocurrency payment gateway founded in 2019 by the team behind ChangeNOW, a reputable cryptocurrency exchange service. It offers businesses and individuals a seamless way to accept cryptocurrency payments within their Shopify store while ensuring full control over their digital assets.
Fees
NOWPayments presents an attractive fee structure for cryptocurrency transactions on PrestaShop. Merchants encounter a 0.5% fee per transaction, with a reduced rate of 0.4% for high-volume transactions. An additional 0.5% conversion fee applies to withdrawals in a different currency than that of the customer, resulting in an approximate total fee of 1%. This aligns with industry standards, providing a cost-effective solution for cryptocurrency payment processing.
Accepted currencies
NOWPayments excels in its extensive support for over 160 cryptocurrencies, positioning itself as a leader in PrestaShop-compatible cryptocurrency payment gateways. All major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), and more are included.
Functionalities
NOWPayments equips users with various tools to facilitate cryptocurrency payments on PrestaShop. These tools encompass online and offline payment options, easy invoicing through links, customizable cryptocurrency subscription plans, and donation widgets for effortless fundraising. Smart features like anti-volatility, which automatically converts payments to a stablecoin, and mass payouts for consolidating multiple payments into one transaction further enhance the platform.
Integration
It’s important to highlight that NOWPayments seamlessly integrates with PrestaShop through a hassle-free process. Users can easily install the NOWPayments plugin, similar to other user-friendly PrestaShop add-ons and modules. To set it up, simply sign up with NOWPayments, download the plugin, and follow the provided instructions. With just a few clicks, you’ll have a fully operational PrestaShop Bitcoin module alongside your existing payment gateways. If you encounter any challenges during the setup, our support team is ready to assist you with any questions you may have.
Summary
In conclusion, NOWPayments emerges as a top-tier noncustodial cryptocurrency payment gateway designed for PrestaShop, offering a cost-effective fee structure, extensive cryptocurrency support, robust functionalities, and seamless integration. With its user-friendly approach and responsive support, NOWPayments provides PrestaShop users with a hassle-free solution for accepting cryptocurrency payments while maintaining control over their digital assets.
3. Crypto.com Pay
Crypto.com Pay stands as a formidable cryptocurrency payment gateway offered by Crypto.com, a widely recognized name in the crypto industry with a user base exceeding 50 million globally. As an extension of Crypto.com’s comprehensive suite of services, Crypto.com Pay aligns with the mission to accelerate the global transition to cryptocurrency.
Important to note
Crypto.com Pay introduces a dual approach to cryptocurrency payments:
- Crypto.com App Integration: Seamlessly integrates with the Crypto.com app, streamlining payments for existing users while maintaining cost-effectiveness. However, users without the app may face limitations.
- External Wallet Connections: Empowers merchants to enable external wallet connections, broadening accessibility. Caution is advised due to potential security risks associated with this option.
Fees
In the landscape of transaction fees, Crypto.com Pay stands out by refraining from imposing transaction fees on cryptocurrency payments. However, a nominal 0.5% settlement fee and a 1% payout fee apply. While competitive, it’s essential to note that fiat payouts are limited to select merchants.
Accepted currencies
Impressively supporting over 30 cryptocurrencies, Crypto.com Pay provides a diverse array of digital assets, including major ones like Bitcoin, Ethereum, Tether, USD Coin, Ripple, Cardano, Solana, and Dogecoin. Notably absent are Binance Coin (BNB) and Binance USD (BUSD), possibly due to their association with rival exchange Binance.
Functionalities
Crypto.com Pay enhances its value proposition with an intuitive invoicing system, a donation widget, and robust volatility protection measures. Automatic conversion ensures seamless transitions into predefined currencies, acting as a safeguard against cryptocurrency price fluctuations.
Integration
Crypto.com Pay seamlessly integrates with PrestaShop, providing an official and streamlined setup process for online stores within the PrestaShop platform. This official integration ensures a secure and user-friendly experience, distinguishing Crypto.com Pay from other platforms on this list that rely on unofficial integrations. Merchants can easily install and configure Crypto.com Pay in their PrestaShop settings, expanding their payment options with confidence and efficiency.
Summary
In summary, Crypto.com Pay stands out as a robust cryptocurrency payment gateway supported by the reputable Crypto.com platform. Offering extensive cryptocurrency support, a competitive fee structure, and versatile payment methods, it appeals to businesses aiming to integrate cryptocurrency payments. Its official integration with Prestashop further positions Crypto.com Pay as a practical choice for businesses navigating the digital currency landscape.
Conclusion
In conclusion, understanding cryptocurrency payments is essential as you navigate the PrestaShop platform. Cryptocurrencies, operating independently of traditional banking systems, offer a modern and efficient way of handling money with lower fees. Embracing crypto payments on PrestaShop comes with numerous benefits, including low transaction fees, irreversible transactions reducing the risk of chargebacks, fast access to funds, enhanced safety and privacy, global accessibility, cost savings, and the opportunity to build trust among tech-savvy customers.
As you consider integrating cryptocurrency payments into your PrestaShop store, it’s crucial to follow best practices. Choose a trusted cryptocurrency payment gateway compatible with PrestaShop, check transaction fees, ensure compatibility, and provide clear information to customers about the supported cryptocurrencies and transaction processes.
We have thoroughly tested many crypto payment gateways and the best for Prestashop are:
- FCF Pay: Stands out with an impressive 8.9 rating and innovation recognition, offering low fees (0.5%) for 80+ cryptocurrencies with advanced features and seamless PrestaShop integration.
- NOWPayments: Provides a noncustodial solution with a 0.5% transaction fee, extensive support for 160+ cryptocurrencies, and a hassle-free PrestaShop integration through the NOWPayments plugin.
- Crypto.com Pay: Backed by Crypto.com, it features a dual approach, including app integration, with a competitive fee structure and seamless PrestaShop integration, making it a trusted choice.
As you explore these top PrestaShop crypto payment gateways, consider your specific preferences and priorities as a merchant. The right choice will not only streamline crypto payments on your platform but also contribute to the overall success and innovation of your PrestaShop store.
