Crypto payment processors are intermediary services that allow merchants to accept crypto payments for their goods, services and other retail payments. These intermediary services are similar to Paypal and 2CheckOut, the famous internet services dealing in fiat currencies. The idea is simple; an intermediary service usually provides the framework that can be implemented on merchant websites and mobile applications. This allows them to save cost in various legal and coding costs and obligations.
Speaking to Cryptopolitan, LinkedIn influencer Ken Bodnar expressed that Coinpayments.com is the best payment processors in his opinion. The major aspects for most merchants are the processing fee and reliability of service. He explains that with a user base of over two and a half million users worldwide the processors is among the best since it charges on half a percent (0.5%) in fee.
Most individual users are working on small to medium enterprises, where cutting the cost is the most important aspect of their operations. While institutional users think in broader terms allows them to look at other options such as the number of currencies available.
Managing Partner of Apis Capital Management Edgar Radjabli believes that the best crypto merchant processor he has worked with is White Pay by the White Company. It charges a flat 1% fee to merchants, which is much lower than credit cards. Be furthers that, “it allows them [merchants] to accept Bitcoin (BTC), Bitcoin Cash (BCH), Staller (XLM), Ethereum (ETH), and Bitcoin Satoshivision (BSV) (whereas BSV is not supported by Bitpay, for example, despite being one of the largest cryptocurrencies by market cap). Lastly, they allow settlement in dollars (USD), euro (EUR), and pounds (GBP) and they have an integrated wallet/exchange system so that merchants can also exchange cryptocurrency and make payments to vendors.”
On the other hand, there are other options also available, but when selecting a suitable crypto payment processor for yourself, one should be able to judge them by currencies supported on the processor, the fee per transaction, reliability of the network and the number of cryptocurrencies you can accept through the solution.