Popular cryptocurrency payments platform crypto.com has launched a new cryptocurrency invoicing feature that enables merchants and retailers to generate invoices for amounts paid in cryptocurrencies, an official press release announced on Tuesday.
There is no denying that the payments industry has undergone a revolution in the past few years. From blockchain, FinTech to cryptocurrencies, the world of internet commerce is rapidly evolving, and how!
Earlier this week, Canada-based cryptocurrency payments firm NatCents revealed a crypto credit card that will enable its users to pay using crypto, without having to worry about topping up the card. Along the same lines and in its bid to encourage more and more people to adopt this new way of making payments, crypto.com, too, has launched a user-friendly innovation called the Crypto.com Pay Invoice.
Bringing cryptocurrency payments into vogue
If you are a customer at any of the retailers that offer the crypto.com payment facility, you will receive invoices for your cryptocurrency payments made in exchange for the items purchased. The newly-launched service will enable merchants to provide their customers with bills for payments made in Bitcoin, Ripple, Ether, Litecoin, and crypto.com’s native coin Crypto.com coin.
What’s more peculiar is that although the crypto.com enabled merchants would see fiat pricing for the items being sold, the purchasers can still make the payment with the desired cryptocurrency. Moreover, the Crypto.com Pay Invoice will accept any form of payment and instantly convert it into fiat money at the point of sale.
According to the announcement, the conversion rate of the fiat money is non-negotiable and fixed to avoid the risks surrounding volatility and market fluctuation.
Meanwhile, cryptocurrency payments are indeed becoming the new regular these days. Bitcoin payment service provider OpenNode launched a unique crypto invoicing service last week, which will allow platform users to send itemized and professionally-formatted bills to customers who bought products using crypto.
Additionally, a German crypto startup, Shelli.io, unveiled IOTA invoicing and bookkeeping software earlier this month that will ease the burden of compliant payments, bookkeeping and invoicing.