Offering a broad range of payment options is critical to running a successful online store. With the emergence of decentralized finance and digital assets, businesses can now accept various forms of cryptocurrencies as payment.
Integrating the IoTeX-powered tokens as a payment option on your e-commerce store is an excellent way to attract crypto enthusiasts and capitalize on this trend to gain new customers. This article offers a step-by-step guide on immediately accepting IOTX as a payment option on your e-commerce store. You'll also discover how it benefits your business.
What are IoTeX Payments?
IoTeX payments involve using its cryptocurrency, IOTX, for transactions on its blockchain network. IoTeX is a decentralized Web3 platform established in 2017 specifically for connecting billions of smart devices or machine economy (MachineFi). Its primary objective is to provide speedy, low-cost, scalable, and secure transactions between users, businesses, and machines. IoTeX also allows users to regain data ownership and control of their intelligent gadgets and the value they generate.
The IoTeX network boasts over 500,000 wallets, more than 200,000 active users, and nearly 54 million transactions. An excess of $100 million in total value is locked on its network, indicating its importance in the digital currency landscape. There are currently almost 200 ecosystem projects built on the IoTeX platform. MachineFi Lab, IoTeX’s core developer, has secured several partnerships and collaborations with prominent organizations across several industries and sectors.
Why consider IoTeX payments in your e-Commerce business
- Security: IoTeX uses a secure blockchain infrastructure that ensures your payments are secure and tamper-proof. The platform uses advanced encryption techniques to protect your personal and financial data.
- Speed: IoTeX offers fast payment processing times so that you can complete transactions quickly and efficiently. This is especially important for businesses that process a high volume of payments.
- Low transaction fees: IoTeX transactions cost fractions of a US cent, far less than traditional payment methods. That means your business could save tons of money in the long run.
- Global accessibility: IoTeX is a decentralized platform, which means it’s accessible worldwide. This makes it an excellent option for businesses that operate globally.
- Transparency: All transactions on the IoTeX blockchain are transparent, which means you can track your payments in real-time. This level of transparency can help build trust between businesses and customers.
How to accept IoTeX payments on your e-Commerce website
The increased popularity of IoTeX makes it an attractive payment method for businesses looking to keep up with digital payment trends. With CCPayment, —a cutting-edge seamless, secure, and efficient cryptocurrency payment solution—accepting IoTX on your e-commerce store is simple. Follow the steps outlined below to get started.
Configure Payment API: It will automatically redirect you to your dashboard after logging in.
- From the left panel menu in the dashboard, select “Payment API,”
- Select API configuration
- Input your webhook URL
- If you wish, you can also add a few whitelisted IP addresses to access your payment API.
- For increased security, toggle on the RSA encryption button.
Set up Merchant Preferences:
- Return to the left panel menu.
- Select “Merchant Settings.”
- Upload your business logo for display on the payment page.
- Enter a new title for your payment page.
- Select IoTeX. You can also choose from over 100 other cryptocurrencies you can add for payments to your online business.
- Set up email preferences and save settings.
The Process of Accepting IoTeX Payment Is Straightforward:
- Enable Crypto Payments on Your Website Via CCPayment API
- Customer Make Purchases and Decides to Checkout With Crypto
- CCPayment API generates a Crypto Payment Window.
- The customer Pays With IoTeX or Any Other Preferred Cryptocurrency
- Your CCPayment account is credited with IoTeX
In conclusion, accepting IoTeX’s token as a payment option on your e-commerce store offers many benefits. It can attract crypto enthusiasts, which means more customers. As we highlighted, transactions are fast and a fraction of a US cent, so significant savings and satisfied customers. With CCPayment, accepting IoTeX payments is a straightforward process.
As decentralized finance and digital assets continue to grow in popularity, integrating IoTeX payments into your existing options could position your business ahead of your competitors.