Coinbase (COIN) and Primer Partner to Make Cryptocurrency a Standard Payment Method
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Primerthe world’s leading automation platform for payments and commerce, and Coinbase (NASDAQ: COIN) announced a strategic integration that allows traders in marketplaces around the world to add crypto as standard payment method at checkout.
Coinbase Commerce, Coinbase’s platform to help merchants accept cryptocurrency payments, can be added to Primer’s universal checkout with just a few clicks, no code required. This means merchants using Primer can now add crypto payments easily and quickly on their payment page, which is essential given that 40% of consumers say they plan to use cryptocurrency make a payment in the following year.
“The payments landscape is changing at a rapid pace, and consumers are expressing tremendous enthusiasm for crypto payments,” said Roy Zhang, Group Chief Product Officer, Coinbase Commerce. “Merchants face the challenge of creating seamless payment experiences that give consumers the flexibility they want. With Coinbase Commerce and Primer working together, any merchant can secure cryptocurrency payments as readily available to their customers as traditional payment methods like credit cards. »
Primer – which works with merchants operating across multiple industries in the UK, Europe, US and APAC – has seen a growing appetite for crypto as a means of payment. Merchants integrate with Primer once and can then add Coinbase Commerce to their checkout page with just a few clicks, seamlessly meeting growing customer demand for crypto payments, while reaping benefits such as lower fees and chargeback rate risk for near-instant settlement and the sustainability of their payments.
Together, Primer and Coinbase streamline crypto payment acceptance by eliminating the many individual and fragmented integrations that merchants must create to accept different types of payment methods. With Coinbase, the challenges faced by merchants around holding and management cryptocurrency are removed, and with Primer, the complexity of adding crypto to their payment is replaced by a simple one-click solution.
“Cryptocurrencies are a rapidly evolving reality of the payments landscape, and we’re excited to integrate Coinbase Commerce with Primer’s Universal Checkout to create the first solution that helps merchants accept cryptocurrencies quickly and easily,” said Primer co-founder Gabriel Le Roux. “We share the ambition to make crypto a commonly accepted payment method, and we want to help merchants implement it with the same ease and speed as with any other payment method. With Primer’s unique, code-free integration, merchants around the world can now add crypto at their checkout in a few clicks.”
Seeking to manage an increasingly complex payment experience as well as to offer crypto Payments, mining compassone of the largest Bitcoin mining operations worldwide, became the first Primer merchant to connect to Coinbase. Since integrating Primer and Coinbase Commerce, Compass Mining has enjoyed increased trading volume month over month with a crypto grant rates and low denial rates.
“We love the simplicity of quickly adding new connections like Coinbase Commerce and other payment providers within the Primer platform,” said Jameson Nunney, chief strategy officer at Compass Mining. “We believe this implementation will help us achieve our goal of global growth and help more people learn, explore and leverage Bitcoin.”
Coinbase Commerce is the first of several cryptocurrency platforms connected to Primer, giving Primer’s fast-growing global network of merchants the flexibility to integrate even more payment methods into their checkout.