80,000 European Merchants Will Now Have An Option To Accept Crypto

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A European cryptocurrency payment gateway from Vilnius, is teaming up with a popular, open source ecommerce solution. The cooperation will give both, merchants and customers, more choice to use their cryptocurrency. It will also, most likely, positively affect the adoption. The two companies are: Coingate and Prestashop.

Coingate CEO, Dmitrijus Borisenka explains:

“Encouraging adoption among people beyond the tech-savvy early-adopters is one of the biggest priorities for us. Prestashop has an ideal base of small to medium stores that may well utilise cryptocurrencies not only as an innovative and increasingly popular payment method, which is much cheaper than traditional card payments, but also the promotional benefits that the Bitcoin tag carries.”

The idea is to implement Coingate into Presta’s backend. This would reach as many as 80 thousand European merchants, creating a seamless experience.

Support for 50 cryptocurrencies

“There is an entire new market of people who own all kinds of cryptocurrencies and are looking for ways to spend them,” – Mr. Borisenka explained and continued that “the gap between customers and merchants in this sphere is still huge. It is therefore crucial to educate and encourage businesses to adopt a forward-thinking attitude and to overcome the prevailing misconceptions that surround cryptocurrencies.”.

The module will be possible to install in just a “few clicks.”. Bitcoin and Bitcoin Cash will both be accepted, alongside nearly 50 other coins. And what is really interesting – the settlement payments will come in a single currency selected by the merchant.

Prestashop is around is 2007. It’s an open source platform with more than 250 thousand online stores in 200 countries. Coingate has 50 thousand users and monthly revenue around €10 million.

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