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CardinalCommerce Adds Bitcoin to Merchant Payments Solution

Merchants using CardinalCommerce for alternative payments processing are now able to accept bitcoin through a partnership with Bitnet.

Mar 25, 2015 at 2:31 p.m. UTC
Updated Sep 11, 2021 at 11:37 a.m. UTC

CardinalCommerce

Merchants using payment authentication provider CardinalCommerce will now be able to accept bitcoin alongside alternative payment options including PayPal and Google Wallet.

The announcement is the result of a partnership between CardinalCommerce and bitcoin merchant processor Bitnet that enables merchants with custom-built shopping carts to send API messages to Cardinal's platform through its One Connection service.

As part of the integration, CardinalCommerce handles updates and changes necessary to accept the payment method, and will help facilitate refunds through Bitnet.

"As a merchant accepting bitcoin via Cardinal, if there was some change to the protocol or Bitnet's APIs, Cardinal would handle that. That’s a core value proposition that companies like Cardinal bring to their merchants," chief commercial officer Akif Khan told CoinDesk.

The service comes with a one-time access fee, as well as a monthly fee that includes additional costs based on customer clicks, not the dollar amounts of orders.

In statements, Cardinal SVP of merchant services Alasdair Rambaud suggested that the partnership is in line with the company’s goal of providing merchants with a greater variety of alternative payment methods.

Bitnet raised $14.5m in October of last year, and has since inked a prominent deal with Japanese e-commerce giant Rakuten.

Online shopping image via Shutterstock

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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