Cryptocurrency exchange company Bitfinex is launching Bitfinex Pay, a cryptocurrency payment gateway. With this new product, online merchants can accept payments in various cryptocurrencies. It should make cross-border transactions easier in particular.
While there are a few crypto payment gateways already, Bitfinex Pay has the advantage of working seamlessly with the company’s exchange. Merchants can create a widget and start accepting payments in Ethereum and bitcoin. Payments are deposited on your exchange wallet.
Bitfinex’s widget works a bit like the “Buy Now with PayPal” button. When you click on the Bitfinex Pay button, you’re redirected to the cryptocurrency company’s website. Once your payment is approved, you’re redirected back to the original merchant website. Payments are capped at the equivalent of $1,000 in cryptocurrencies.
The hype train for buy now, pay later (BNPL) continues to pick up steam as consumers seek shopping alternatives during the pandemic – could this emerging payment option be a credit card killer?
While flexible payments are something that all generations can get behind, younger consumers in particular are drawn toward simple payment processes and behavioral shifts away from traditional credit cards.
As a way to better understand usage, experiences, and trust surrounding BNPL, The Strawhecker Group (TSG) surveyed over 1,500 U.S. consumers in February. Check out some highlights below and download the infographic to get a better understanding of why consumers are choosing BNPL.