Pay With Paxful

What is Pay With Paxful?
Pay With Paxful is an integration you can set up with your e-commerce/business website.The integration adds a button that allows buyers to pay with payment methods such as gift cards, online wallets, etc.

Pay With Paxful is great if you are selling access, online, or physical products. The integration allows you to add new payment methods, in addition to the ones you currently have. You don’t have to worry as the process is chargeback free.

As a merchant, you do need to be willing to accept payment in BTC but there are many ways to convert it to your local fiat currency.

How does it work?
Pay With Paxful brings together three sides: merchants (selling something), buyers (wanting to buy something) and Paxful vendors (exchanging buyer payment methods to BTC). The solution is unique as transactions are handled through the robust Paxful platform trades (which are peer-to-peer).

Merchants have control over the configuration of the solution and can track every transaction through a track ID. On every successful payment, a callback can be configured which can be set up to release the goods to the buyers on the merchant side.

Merchants have a complete transaction list available on their Paxful Merchant Dashboard.

How secure is Pay With Paxful?
The Pay With Paxful integration uses our secure escrow system and battle-tested platform. Your buyers are safe.
As a merchant, you are safe as Paxful uses a secure URL token system to prevent phishing. To enable automatic send-outs to your Bitcoin address, you’ll need to use our secure token system. Check out the developer page for more information.
Expected earnings with Pay With Paxful and how to track them.

The amount you can earn depends on the number of completed transactions. 

With every successful transaction, you’ll see the transaction in the Merchant Dashboard. You can also set up a “callback solution” to automate the actions on your end.

Payments are handled in Bitcoin. This means you can keep them as BTC in your Merchant account for exchange for EUR/USD/etc. There are many services available for this, you can even use exchanges such as Kraken.

Note: There is an extra step to move the funds from your merchant account to your Paxful wallet, but don't worry—this won't cost you anything.

How much control do I have? Do my visitors ever leave my site?
The Kiosk link can be configured to open in a new tab or it can be configured to open inside an iframe. You can set it up so the solution is embedded as an iframe right into pages so that visitors don't have to leave your website. As a part of the process, your users will need to register as Paxful users, but you as a merchant can make the process smoother by providing the user email together with the generated URL so it would be pre-filled for users.
What are the different configuration options?
You can choose how you want to configure the link. There are some options regarding:
Currency: You can request the payment in either BTC or in FIAT currency (Paxful can convert the sum based on the market price).
Sum: Normally you define this, but there is an option to request all user’s Paxful balance (or if the balance is 0, then let the user define it).
Registration: You can define the user email, to make the purchase process easier.
Receiver: By default, funds are deposited on your merchant account balance but it is possible to configure deposits to any Bitcoin address.
Callback: You have to define the Callback address which can handle the callback parameters.

The full list of technical parameters is available here: (https://developers.paxful.com/pay-with-paxful/authentication-requirements/).

How easy is it to use?
For merchants, setting the integration up is easy. You need to do some coding to configure the link generation. You can find examples from the developer documentation: developer page.

For buyers, the purchase process will be a bit different. They need to complete a trade with another person.

What are the fees involved?
As a Merchant, there are no fees to use Pay With Paxful.

Please refer to this article for the full list of Paxful fees. 

What are the minimum and maximum payments possible?
A merchant can request any sum, but the minimum trade amount is 10 dollars (also in other currencies). Any amount larger than the amount requested by the merchant will stay in the buyer's Paxful balance and they can use it or withdraw it at any time.

There is no direct limitation to the purchase sizes but for large sums, a buyer might have to do multiple trades and also vendor can request additional KYC procedures.

Where can I find more information about Pay With Paxful?
You can learn more about Pay With Paxful here, and the developer’s guide can be found here.

 

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