Bitcoin Exchange Paxful Launches Paxful Pay, Allowing Sellers to Receive Bitcoin Payments

Paxful has announced Paxful Pay, an e-commerce payment integration that allows merchants around the world to receive bitcoin as payment. Paxful, a global peer-to-peer bitcoin exchange platform, has announced the launch of Paxful Pay, a new e-commerce solution that allows businesses around the world to receive bitcoin as payment for their goods and services, according to a press release. “We are excited to bring Paxful Pay to our global community,” said Artur Schaback, Paxful COO and co-founder, according to the publication. “There is a clear need to offer local options for Bitcoin, and this product is the result of our efforts to meet that demand.” Paxful Pay works as a payment integration to merchants' e-commerce websites. The tool allows buyers to make purchases using 400 payment methods, after which the assets used for purchases are converted into bitcoin, which is sent to the merchant's digital wallet. Interested merchants can initiate an application process on the Paxful website. Transactions with Paxful's e-commerce integration are handled through the company's peer-to-peer bitcoin exchange platform, which uses a robust and secure escrow system. In addition, all fees are paid by the buyer and seller without any fees when using Paxful Pay as a seller. Upon completion of a successful payment, the seller can configure a callback request to deliver the goods to the buyer. Payment funds are deposited into the seller's seller account by default, while automatic sends to any Bitcoin address can be enabled in the control panel – resulting in a cost of 50,000 satoshis. In addition, traders can also track transactions, manage their income and convert their money to local currency at any time. By introducing this new e-commerce payment integration, Paxful lowers entry barriers for merchants worldwide to receive bitcoin as payment for their goods and services. Six million people already use Paxful to buy and sell bitcoin in a peer-to-peer environment

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