Coinbase commerce API which was launched in February 2018 has announced that starting today, ‘APIs can be dynamically generated instead of manually creating payment buttons on hosted pages to accept cryptocurrency payments’.
The Coinbase Commerce API can be used to dynamically create charges. When a charge is created, APIs generate payment addresses on the users’ behalf for each cryptocurrency that is enabled and provide the user with a hosted page that they can send to customers to complete the payment.
To receive payments unlike credit cards where merchants must obtain payment credentials in order to charge a customer, cryptocurrencies is like digital cash which relies on the customer explicitly sending money to the merchant.
After a charge is created, Coinbase Commerce will continuously monitor each blockchain network for a payment. Since cryptocurrencies are push payments, an expiration time is set for the charge which is 15 minutes after the creation time. If the customer does not make a payment within that time frame, the charge is considered to be expired.
Once a payment has been sent, the dashboard is updated with the payment information. To access more information about the payment, the charge is retrieved by supplying the unique charge code that was returned when the charge was created.
These developments have brought positive feedback from the users. A tweeter tweeted:
“This is actually a very good news, if the API allow to be integrate as a payment option on any ecommerce then to pay in any currency we have on our coinbase account, including fiat, it will really be a game changer.”
This has a wide variety of applications such as embed payment buttons which allows users to accept cryptocurrency on their website with minimal coding. By creating hosted pages, they are publicly accessible to checkout pages that can be shared with anyone.
A Twitter user tweeted:
“It’s fun to watch Coinbase trying to stay relevant in a fast changing world….people want access to more coins, not APIs or indexes.”
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