Coinbase Commerce, the non-custodial cryptocurrency payment solutions arm of popular exchange Coinbase, has launched a range of solutions to enable cryptocurrency-based commerce. The slew of features, which includes a WooCommerce plugin, will allow online merchants across the globe to accept payments for products and services through cryptocurrencies.
WooCommerce is one of the most popular e-commerce platforms on the web with more than 28% of the online merchants using the platform to power their business. The WooCommerce Plugin launched by Coinbase may be a significant step in cryptocurrency mainstream adoption as integration with existing payment systems was a huge problem with the current breed of cryptocurrency payment solutions. The plugin, which can be downloaded from Github, will allow businesses to easily accept cryptocurrency payments from anywhere.
This release will be extremely beneficial for businesses with international customers, as they will not have to spend extra money converting their home currency to US dollars before sending payments. Moreover, one big friction point for online merchants was the transaction fees for processing payments. With Coinbase Commerce, merchants will not pay any transaction fee to accept payments.