Cryptocurrency exchange KuCoin has just announced KuCoin Pay, a new payment platform designed to help merchants accept cryptocurrency transactions.
KuCoin Pay is integrated into the KuCoin (KCS) app, used by over 37 million people worldwide. By leveraging this user base, businesses can connect with more customers while simplifying the payment process.
According to the company statement, customers can make payments by scanning a QR code or directly via the app.
The aim of the platform is to make it easier for companies to process crypto payments. It offers lower fees, instant billing, and support for multiple cryptocurrencies. KuCoin is particularly focused on making crypto payments more accessible for everyday transactions.
Users will be able to pay for items such as gift cards or mobile top-ups, which could help normalize the use of cryptocurrencies in everyday life.
Setting up KuCoin Pay is straightforward for companies. Merchants are adding the system into their existing payment platforms, making it easier to accept crypto alongside traditional payments.
Crypto payments work by using blockchain technology to process transactions. Unlike traditional payment methods, blockchain enables direct peer-to-peer transfers, often with lower fees.
