Merchants are indispensable to the global economy and making it easy for crypto to be accepted in stores will:
-offer consumers more payment flexibility,
-reduce the cost of e-payments and,
-speed up the mainstream adoption of crypto.
Our API enables full automation of merchant checkout transactions and the crypto payment options currently available include BTC, ETH, TRX and DOGE. Support for more coins/tokens will be added in future updates or on request.
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How does it work?
Below is a typical payment flow describing how it works.
This example consists of four roles:
– Exchange and
- A Consumer is ready to pay for an online order on a merchant’s website or app.
- The Merchant offers the Consumer different payment options, including cryptos.
- The Consumer selects their preferred crypto from the options the Merchant has provided in the website/app and clicks to proceed to the payment page.
- The Merchant makes an API request to the Exchange providing a payment amount both in local currency and the selected crypto.
- The Exchange converts the payment amount from local currency to crypto.
- The Exchange makes an API call to THRESHOLD to create a new payment order and receives a payment address for the selected crypto.
- The Exchange forwards the payment address and amount to the Merchant.
- The Merchant displays to the consumer the payment page which includes the payment address and amount for the crypto selected as well as a timer indicating how long the exchange rate is valid for.
- The consumer sends the payment amount to the payment address provided.
- Once the payment is detected on the blockchain, THRESHOLD sends a payment notification to the Exchange via API.
- The Exchange sends a payment notification to the Merchant.
- The Merchant updates the purchase order status to ‘paid’ and delivers the goods or services to the consumer.
- The Exchange pays the Merchant in local currency (or in crypto).
Steps 1 to 13 described above are API driven and happen instantly at the click of a button.
The configuration of THRESH0LD Merchant services is simple and integration can be done in one week.
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