Paxful unveils Paxful pay; offers almost 400 payment methods

By Pavithra R

Paxful, a global peer-to-peer bitcoin marketplace, has announced the launch of Paxful Pay, an e-commerce solution that allows businesses worldwide to receive bitcoin. 

The service allows customers to pay with almost 400 payment methods, exchanging into bitcoin that is sent to the merchant’s digital wallet.

Businesses can register now to add Paxful Pay as a purchase option to their online checkout process. Through Paxful Pay, businesses have the ability to manage their earnings and convert bitcoin into their local currency on the Paxful Marketplace using almost 400 payment methods. Merchants will also have control over the configuration of the solution on their Paxful Merchant Dashboard and can track every transaction.

“In many regions across the globe, we see people use bitcoin as a financial tool for purchasing goods and services. Bitcoin has several different use cases that we’ve only begun to leverage and e-commerce is a great example. At Paxful, it’s imperative that we give users and businesses around the world the opportunity to take advantage of the power of bitcoin to gain financial freedom,” said Ray Youssef, CEO and co-founder of Paxful.

The firm expects to expand to other digital currencies and also plans to introduce automatic conversion into stablecoins such as Tether (USDT). Further down the line, Paxful Pay will allow merchants to automatically convert bitcoin into their local currency within their bank account.

Consumers can expect the typical e-commerce flow but will now have the option of selecting Paxful Pay as a payment method. With their Paxful login, users can also take advantage of Paxful’s other products such as Paxful Marketplace and Paxful Wallet.

“We’re thrilled to bring Paxful Pay to our global community. There is a clear need to offer local options for bitcoin and this product is a culmination of our efforts to deliver on that demand. By offering users the ability to complete purchases using almost 400 payment methods, they will now have an even stronger financial solution at their fingertips. We cannot wait to expand this offering to encompass as many merchants as possible,” said Artur Schaback, COO and co-founder of Paxful.

Founded in 2015, Paxful is a people-powered marketplace for money transfers with anyone, anywhere, at any time. The company’s mission is to empower the forgotten 4 bn unbanked and underbanked around the world to have control of their money using peer-to-peer transactions.