Following a quiet test period, on February 14 Coinbase Commerce has become available for all merchants globally. The service monitors, validates and confirms user transactions on each blockchain of Bitcoin, Bitcoin Cash, Ethereum and Litecoin with the payments performed on-chain. Another key specifics is that Coinbase Commerce gives a full control over its own currency as the service is not hosted.
The access to the service is very simple: all a merchant needs to provide is his e-mail address and his phone number. Coinbase Commerce can be intergrated directly into checkout flow or added as another payment option on an e-comm platform. According to the announcement, the service is already integrated with Shopify, one of the largest multi-channel commerce platforms.
As for the current competitors of Coinbase Commerce, it’s the largest Bitcoin payment processor Bitpay. Bitpay has been the dominant player in the sector for a while.
As for the apperance, it will work as a PayPal plugin: once the customer reached the checkout page, one can view Coinbase Commerce button along with traditional PayPal and Credit Card. Upon clicking the Coinbase Commerce button, a new window pops up with the product cost and a crypto address to proceed the payment. QR code payment is also available.