Cryptocurrency payment gateways provide businesses and companies with a two-layer solution that helps them receive crypto payments, convert that crypto into fiat, and withdraw it to a bank account. Once a company decides to accept Bitcoin payments, it needs to integrate a payment gateway or install a crypto plugin if using an eCommerce platform like WooCommerce.
In addition to online processing, some payment gateways provide offline businesses with POS (Points Of Sale) solutions that allow brick-and-mortar merchants to receive payments in crypto from clients who have mobile wallets.
We should also mention recurring crypto payments - a relatively new but very promising service that allows merchants to bill customers on a regular basis. So far the only processor to have implemented it is CoinsPaid
, and it will be interesting to see if others will follow suit.
Finally, merchants can implement more advanced technical solutions via an API - for example, to receive BTC payments in an app rather than a website.