Crypto Payments, E-Commerce Plugins
CoinGate Launches Shopware Extension For Crypto Payments
Last updated: January 24, 2023 5 min read
Shopware is a popular e-commerce platform for creating online shops with integrated tools for marketing, SEO and other equipment necessary for all modern retailers.
With the power of extensions, Shopware users are also able to set up a new payment method on their checkout page with CoinGate, allowing customers to pay with Bitcoin (+ Lightning⚡) and 70+ other cryptocurrency payment options for their goods and services.
Merchants also have the convenience of converting and withdrawing their collected coins in the form of Euros, US Dollars, British Pounds, Bitcoin and other currencies into a bank account or a wallet.
Be mindful that a verified CoinGate business account is required to use this service. Register here.
Use this step-by-step guide for installing and enabling Shopware extension.
Reasons to choose the CoinGate crypto payment option for a Shopware store
Although CoinGate is just one of many payment providers, it is among the finest and most versatile for accepting cryptocurrency payments, no matter how big or small the merchant is.
Let’s look at some of the advantages of the CoinGate payment processor that Shopware users will undoubtedly find valuable, probably beyond their initial expectations.
An entirely automated cryptocurrency payment processing solution
If you don’t want to constantly maintain your payment methods, you won’t have to with the CoinGate payment solution – it becomes fully automated once set up, guiding the customer through the payment process seamlessly without needing to keep an eye on it.
Relax and let the payments flow into your account – CoinGate extension sources real-time cryptocurrency exchange rates by itself and then accurately reflects them during a customer’s payment cycle.
Once the extension is configured, not much else is left to do – CoinGate will collect, process, and convert all the collected coins to other currencies or a single currency, depending on how you configured your settings.
The funds will then be automatically and periodically paid to your cryptocurrency wallet or a bank account (BTC, USD, GBP, EUR, etc.).
Order management, tracking, and accounting tools
Users that have a CoinGate account also get access to tools that every merchant who wants to run a successful business will appreciate.
That’s the ability to track the status of orders, export relevant data for accounting reasons, add other users to the account with specific permissions assigned, manage payout currencies and addresses, and more.
Bitcoin Lightning Network payments
One great feature that your Bitcoin-friendly customers will appreciate is an option to pay via BTC Lightning Network. This feature is enabled for every CoinGate merchant by default.
Receiving Bitcoin payments via CoinGate’s Lightning Network public node reduces transaction fees and improves transaction speed for customers.
Refund orders paid with cryptocurrencies
One thing that other payment providers lack is the ability to refund money in cryptocurrencies. This is not the case for CoinGate.
CoinGate made the refunding process not only possible but also easy and time-saving.
Read this article to understand how refunds work and how to issue them.
Make changes to the payment invoice
With the CoinGate solution implemented, every customer will land on a CoinGate invoice when it’s time to make a payment. This invoice can be customized.
You can add or remove cryptocurrencies from the invoice, change their positioning, and more. For example:
- Extending the invoice expiration time beyond the default settings;
- Setting the prices of your merchandise in your local fiat currency;
- Configuring the invoice to accept slightly underpaid or overpaid orders.
Custom payout options
Invoice customization options also allow merchants to indicate how the received cryptocurrencies should be exchanged for other coins during the payment process.
With that, merchants have free will to decide in what form they wish to withdraw funds collected through the CoinGate invoice.
Several options are available:
- Keep a coin in its original form. If you get paid in SHIB, you can keep it. Simply attach a SHIB wallet to your account and request a payout.
- Convert crypto earnings to fiat currencies. If you got some orders paid in several different cryptocurrencies, you can exchange these coins for fiat currency (EUR, USD, GBP) and receive payouts directly to a bank account.
- Convert one cryptocurrency to another. You might collect many DOGE payments but request a payout in the form of LTC or another cryptocurrency.
Need more reasons to accept crypto payments?
Everything listed above explains why using CoinGate’s cryptocurrency payment solution might be a good fit for your business. However, cryptocurrencies have inherent qualities that make them an excellent payment method, whether or not CoinGate is involved.
There are several benefits to accepting crypto as a form of payment, including instant cross-border transactions, lower processing fees than credit cards or bank transfers, no chargebacks, a competitive edge in the market, and serving the underbanked population.
If you’re interested in learning more about the advantages of having cryptocurrency payment set up, read our article about why it’s worth having crypto payment methods.