Financial news

In light of the growing appetite for crypto-enabled checkouts, merchant customers of Primer, the automation platform for payments and commerce, now have access to this capability thanks to the platform’s recent Coinbase integration.

The platform has integrated Coinbase Commerce, the exchange’s crypto payments-enabling software, into its offering, allowing its users to add crypto as a standard method of payment at checkout.

The ability for merchants to be able to accept crypto payments is an extremely topical point of focus for the industry right now.

This year’s Checkout.com report found that two in five consumers globally intend to use crypto as a form of payment in 2022, while 45 per cent admitted to trusting brand more if crypto payments are available at the checkout.

Similarly, an earlier Paysafe study found that 48 per cent of businesses are looking to offer crypto in their checkout as ‘soon as possible’, with 59 per cent believing the option will help expand their business into new countries.

This is echoed by the payment platform’s later findings which emphasised the competitive advantages enjoyed by businesses offering this form of transaction.

The integration of Coinbase Commerce into Primer is a direct response to findings like these, and follows news of a similar integration with Google.

Acknoledging the rapid evolution of the payments landscape, Coincase Commerce group product manager, Roy Zhang, points out how “consumers are expressing a tremendous amount of excitement for cryptopayments.”

“Merchants are faced with the challenge of building seamless checkout experiences that offer consumers the flexibility they want,” he continued.

Primer, which works with merchants operating across multiple industries through the UK, Europe, US and APAC, has also experienced this growing appetite for crypto payment methods.

“Cryptocurrencies are a fast-evolving reality of the payment landscape,” said the company’s co-founder, Gabriel Le Roux.

The integration hopes to distinguish streamlined crypto payment acceptance by consolidating the many individual and fragmented integrations merchants must build in order to accept different types of payment methods.

“We’re excited to…create the first solution that helps merchants easily and quickly accept cryptocurrencies,” continues Le Roux.

Merchants can expect to reap the benefits of lower fees and risk of chargeback rates and near-instant settlement while ‘futureproofing their checkouts’.

“With Coinbase Commerce and Primer working together, any merchant can make secure cryptocurrency payments as readily available to their customers as traditional payment methods like credit cards,” added Zhang.