In line with the rising popularity of businesses accepting cryptocurrencies as a method of payment, crypto payment processors that enable payment service integrations with prominent technology companies will continue to play a vital role in the cryptocurrency field.
On January 10th, top European crypto payment gateway CoinGate announced a connection with Wix.com (NASDAQ: WIX), allowing consumers in Germany, Lithuania, Spain, and the Netherlands to pay using cryptocurrencies. Because of this, the CoinGate e-commerce payment gateway is now available to German, Lithuanian, Dutch, and Spanish Wix shopkeepers.
Those that run online stores on Wix and use Coingate as their payment gateway may take Bitcoin (and Lightning Network payments) in addition to more than 70 other cryptocurrencies.
Justas Paulius, CEO of CoinGate, thinks that the increased accessibility to clients who solely use cryptocurrencies or who do not have access to conventional payment methods like banks and credit cards would encourage more enterprises to take advantage of cryptocurrency marketplaces.
“Cryptocurrencies are becoming embedded in people’s day-to-day lives throughout the world. Our mission is to provide a means of exchange for all people, regardless of whether they have access to traditional financial institutions like banks or credit cards, and to make it easier for businesses to cater to those individuals. I’m certain that working with Wix will help us reach our objectives.”
The CEO added: There are already over 300 million crypto users worldwide, thus accepting cryptocurrency as a payment option in-store might be the deciding factor for some firms.
CoinGate also stated on January 4 that the number of crypto payments in eCommerce increased by over 60% in 2022, despite the fact that the cryptocurrency market had a severe downturn in the same year.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.