Nium launches Crypto Accept to allow businesses to accept online payments in crypto

By Edlyn Cardoza

At BITCOIN 2022, Nium, the global platform for the modern money movement, unveiled Crypto Accept, an API-based solution that enables global businesses to accept crypto payments. Nium Crypto Accept supports Bitcoin (BTC) and Ethereum (ETH) payments at launch, with plans for more currencies in 2023. Online merchants can accept payments in crypto with zero price volatility or risk. Settlement happens the next business day in USD or another leading fiat currency – directly to their bank account.

Nium Crypto Accept enables merchants to broaden their customer base and enhance their online payment experiences while staying protected from the price volatility of cryptocurrency markets. Merchants will begin rolling out Nium-powered solutions later this year.

“Consumers hold more than $3 trillion in cryptocurrency and are looking for more places to spend this money online,” said Joaquin Ayuso de Paul, Senior Vice President and Head of Nium Crypto. “Crypto Accept allows merchants to quickly and securely enhance their digital commerce experiences to serve consumers demanding more payment options.”

Nium has partnered with BitPay, a global provider of Bitcoin and cryptocurrency payment services, to enable this safe and easy way to embed crypto payments online for thousands of merchants. At checkout, consumers will select their preferred crypto wallet and scan a Quick Response (QR) code to complete their transaction. The service verifies the availability of crypto funds and settles the transaction promptly in the merchant’s bank account in their preferred local currency.

“BitPay’s partnership with Nium connects our network to the Nium rails to enable a fast, safe, and easy way for merchants to embed crypto payments into their online business,” said Stephen Pair, co-founder and CEO of BitPay. “Together, we’re making it possible for customers to live life on crypto with more options to spend their crypto with the businesses they know and trust.”

The launch of Nium Crypto Accept at Bitcoin 2022 follows Nium’s announcement of a comprehensive suite of Crypto services accessed via API. The company’s first service, Crypto Invest, allows financial institutions to offer their customers the ability to buy, sell, and hold the most popular digital currencies from their financial apps.