Digital currency is the currency of the future as they all say these days. Crypto-currencies are one such digital currency that is attracting more and more people. Due to their high demand & low supply, their value also takes a leap sometimes & by a very significant difference. In eCommerce, only those flourish who adapt to change. And, due to this sudden interest in Crypto-currencies, merchants should also consider ways to accept payments in Crypto-currencies. That’s why we thought of bringing a payment module that can provide you with such functionality. And, that module is none other than the Prestashop BitPay Payment Gateway module.
After installing this module, you will be able to accept payments in cryptocurrencies. It offers you to accept payments in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (WBTC), Dogecoin (DOGE), GUSD, USDC, PAX, DAI, XRP and BUSD. Apart from that, it also supports various crypto wallets in order to facilitate the transaction via chosen cryptocurrency. The name of some of the wallets that it supports to pay via cryptocurrencies are:
- Bitnovo etc.
There are much more. And, in total it supports more than 50+ wallets to provide customers an easy & convenient payment process.
Features of Prestashop BitPay Payment Gateway module
- A new payment gateway is available for the customers at the store.
- Buyers can use their cryptocurrencies to complete the purchase.
- Customers can use cryptocurrencies like Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (WBTC), Dogecoin (DOGE), GUSD, USDC, PAX, DAI, XRP and BUSD to make the payment via BItPay.
- Customers can use crypto wallets like BitPay, Coinbase, Copay, Exodus & 50+ other wallets like them to pay via cryptocurrencies.
- Use the module in the sandbox or in live mode as per your requirement.
- Option to set the transaction speed as high, medium, or low to ensure the security of transactions.
- The confirmation of payment at BitPay depends on the transaction speed.
- View all the orders placed via the BitPay payment gateway at the backend.
- Safe, secure, and reliable payment gateway.
How to install Prestashop BitPay Payment Gateway module
- Firstly, go to the module manager in back office and click on ‘upload a module’.
- After that, drag and drop the module file or select the file from the system.
- In this way, the module installation will be successful.
How to configure Prestashop BitPay Payment module
After the successful installation of the module, an admin needs to configure the module. There are very few options in the configuration settings of the module. So, let’s understand them one by one.
- Sandbox Mode: On enabling this option, you can use the module in the sandbox mode. Otherwise, it’ll work in live mode.
- BitPay API Key: Enter the API key that you got from the BitPay website. The process to generate the API key is available in the next section.
- Transaction Speed: Set the transaction speed of the payments made via BitPay. Further information/explanation on transaction speed is available below. Have a look at that.
The BitPay confirmations are based on the transaction speed. Here is some information on transaction speed.
Following variation is there in confirmations on the basis of transaction speed.
- Low: In this case, it takes “6” confirmations to complete the payment.
- Medium: In ‘medium’ transaction speed, Bitpay takes “3” confirmations to complete the payment.
- High: In case of ‘high’ transaction speed, Bitpay takes “1” confirmation to complete the payment.
How to Get API Keys
Now, in this particular section, I’ll take you through the whole process of creating API keys.
To get the API keys, firstly the admin will need to create an account on the BitPay.
- For live credentials, create an account on https://bitpay.com/
- Whereas, for test credentials, create an account on https://test.bitpay.com/
After landing on one of the above websites, you will find “Business” button in top left corner.
On selecting the “Business” option, you will land on the following page. Here, fill in all the details & click on the “Create Account” button to proceed.
After creating the account, you can go to the dashboard to get the API keys.
So, this was all about the process to generate API keys.
Front End Workflow
After configuring the module successfully, buyers will get an option to pay via “BitPay” for the orders.
Note:- Buyers need to have their own crypto wallet in order to pay for the order using BitPay.
After selecting the “Pay with BitPay” option, a customer is taken to the BitPay site. Here, he/she will need to choose the cryptocurrency via which he/she will make the payment.
Now, buyer will use the above crypto wallet address to pay for the order.
After the customer makes the payment for the order, a new BitPay transaction detail becomes available under the orders section.
BitPay will complete the order depending on the “transaction speed”. And, the order status is automatically updated to “payment accepted”.
Please note that the time taken by BitPay to complete the payment will depend on the transaction speed. Additionally, the status of the transactions also updates on the basis of transaction speed.
So, this was all about Prestashop BitPay Payment Gateway Module. I hope this document will help you in checking the functionality of the module in a better way. Also, do let us know about your views in the comments.
Are you looking for a module that can help you to offer recurring payments to customers, then do check out the blog.
Current Product Version - 4.2.2
Supported Framework Version - 1.7.x.x