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.