Accept NEAR Payments: Revolutionizing the E-commerce Landscape

The rapid growth of e-commerce and digital payments has been a game-changer for businesses worldwide. With the emergence of the NEAR protocol and its growing ecosystem, accepting digital payments has become more accessible and efficient. By leveraging the power of the NEAR blockchain and NOWPayments’ API, businesses can accept NEAR payments and streamline their subscription-based services. This article will explore the benefits of accepting NEAR payments, the unique features offered by the NEAR protocol, and how to integrate NOWPayments’ API to accept crypto payments seamlessly.

Table of Contents

• Introduction to NEAR Protocol
• Benefits of Accepting NEAR Payments
• Integrating NOWPayments’ API
• Recurring Payments API: Email Subscriptions Feature
• Security and Compliance
• Future of E-commerce and NEAR Payments

Introduction to NEAR Protocol

NEAR Protocol is a layer-one blockchain platform designed to provide a community-driven, developer-friendly environment for building decentralized applications (DApps) and overcoming the limitations of traditional blockchains, such as low transaction speeds, poor throughput, and limited interoperability. One of the main distinguishing features of NEAR Protocol is its unique consensus mechanism called “Doomslug,” which enables near-instant transaction finality and high throughput.

Launched in April 2020, NEAR Protocol is backed by an extensive team of experienced developers, including multiple International Collegiate Programming Contest (ICPC) gold medalists and winners. The platform aims to create a secure, scalable, and user-friendly ecosystem for both developers and end-users.

Benefits of Accepting NEAR Payments

Accepting NEAR payments offers numerous advantages for businesses and developers alike. Some of these benefits include:

• Developer-friendly ecosystem: NEAR Protocol offers a range of tools and services to support developers, including extensive documentation, tutorials, and resources.
• Growing community and ecosystem funding: NEAR Protocol has a vibrant and growing community of developers, projects, and businesses built around its ecosystem. The platform recently announced an $800 million ecosystem funding initiative to accelerate growth in the NEAR protocol ecosystem.

Integrating NOWPayments’ API

NOWPayments is a cryptocurrency payment gateway that enables businesses to accept payments in various cryptocurrencies, including NEAR. By integrating the NOWPayments API, businesses can accept NEAR payments and manage them efficiently.

The NOWPayments API is a set of RESTful APIs that can be used to integrate NOWPayments with your business’s existing systems. These APIs provide a simple and efficient way to accept crypto payments and can be used to perform a variety of tasks, such as creating and managing invoices, conducting payouts, exchanging currencies, and more.

Recurring Payments API: Email Subscriptions Feature

One of the key features offered by NOWPayments is the Recurring Payments API, which allows businesses to streamline their workflows by assigning payments to their customers on a regular basis. This feature involves creating a plan for payments and individual recurring payments for each user.

Creating and Managing Subscription Plans

To create a recurring payment plan, businesses can use the following API endpoints:

• POST Create plan: This method allows businesses to create a recurring payments plan. Every plan has its unique ID, which is required for generating separate payments.

• PATCH Update plan: This method allows businesses to add necessary changes to a created plan. These changes won’t affect users who have already paid; however, the changes will take effect when a new payment is to be made.
• GET Get one plan: This method allows businesses to obtain information about a specific payment plan (you need to specify your payment plan id in the request).
• GET Get all plans: This method allows businesses to obtain information about all the payment plans they’ve created.

Creating and Managing Email Subscriptions

To create and manage email subscriptions for customers, businesses can use the following API endpoints:

• POST Create an email subscription: This method allows businesses to send payment links to their customers via email. A day before the paid period ends, the customer receives a new letter with a new payment link.
• GET Get many recurring payments: This method allows businesses to view the entire list of recurring payments filtered by payment status and/or payment plan id.
• GET Get one recurring payment: This method allows businesses to get information about a particular recurring payment via its ID.
• DELETE Delete recurring payment: This method allows businesses to completely remove a particular payment from the recurring payment plan. You need to specify the payment plan id in the request.

Viewing and Managing Recurring Payments

Businesses can manage their recurring payments using the following API endpoints:

• GET Get many recurring payments: This method allows businesses to view the entire list of recurring payments filtered by payment status and/or payment plan id.
• GET Get one recurring payment: This method allows businesses to get information about a particular recurring payment via its ID.
• DELETE Delete recurring payment: This method allows businesses to completely remove a particular payment from the recurring payment plan. You need to specify the payment plan id in the request.

Security and Compliance

Security is a top priority for both NOWPayments and the NEAR Protocol. To ensure the safety of their customers’ funds and data, both platforms employ state-of-the-art security measures and adhere to strict compliance standards. Some of these measures include:

• Whitelisting IP addresses and wallet addresses: Payouts can only be requested from a whitelisted IP address to a whitelisted wallet address, which is a security measure enabled for each partner account by default.
• Two-Factor Authentication (2FA): Developers must verify their payout using 2FA, which can be automated through their code by implementing the OTP generation library.

Future of E-commerce and NEAR Payments

E-commerce managers already need to be looking ahead to the next big trend to stand out from the crowd. Accepting NEAR payments and streamlining subscription-based services through NOWPayments’ API can help businesses maximize their potential and maintain a competitive edge in today’s rapidly evolving digital landscape.

Conclusion

In conclusion, accepting NEAR payments through NOWPayments’ API offers businesses a powerful and flexible solution for integrating digital payment options into their operations. Leveraging the robust features of the NEAR Protocol ecosystem and the seamless integration offered by NOWPayments, businesses can stay ahead of the curve and provide their customers with a secure and efficient payment experience. By adopting this cutting-edge technology, businesses can maximize their potential and maintain a competitive edge in today’s rapidly evolving digital landscape.