The use of cryptocurrencies as a payment method is gradually gaining popularity. Many businesses consider it a necessity to deploy a crypto payment gateway. One of the main questions that merchants are concerned about is which cryptocurrency they should offer to their clients. The general rule of thumb is to pick cryptos that have low fees and fast transactions. One of the cryptocurrencies which fit the profile is ZIL. As Zilliqa’s native cryptocurrency, ZIL powers the project’s blockchain and all operations taking place on it. NOWPayments’ plugin enables WooCommerce merchants to integrate ZIL payments without any hassle.
Key points:
- Zilliqa helps to build Web 3.0.
- ZIL assists merchants in accepting fast and low-fee payments.
- NOWPayments’ WooCommerce plugin empowers merchants to create a ZIL payment gateway.
What is Zilliqa?
Zilliqa was launched in 2017 as a high-throughput public blockchain platform designed to scale thousands of transactions per second. The efforts of Zilliqa are oriented towards streamlining the efficiency, trust, and transparency of Web 3.0. ZIL is a native token for the Zilliqa blockchain built to enable and scale decentralized apps, from financial services to NFT marketplaces.
Why is Zilliqa great for WooCommerce merchants?
Low fees
Fees constitute a substantial part of businesses’ expenses, especially online ones. Ecommerce merchants cannot use cash and therefore should rely on electronic transfers, which can be costly due to high fees. Sometimes, one payment made by a client can entail several fees for the merchant. Cryptocurrencies tend to have low fees compared to traditional payment processing solutions. Zilliqa’s native crypto ZIL has fees that are much lower than those of the majority of cryptocurrencies. You can send a ZIL transaction and pay less than $0.1 for it. This is why WooCommerce merchants can save substantial sums of money by using ZIL as a payment method.
Instant transactions
ZIL transactions also have another major advantage over the traditional payment solutions, the excellent speed of its transactions. Every merchant is familiar with the problem when they cannot receive the payment made by their client quickly due to bank delays. You can forget about such inconveniences if you decide to opt for ZIL payments. ZIL transactions are extremely fast and take mere minutes. As a result, merchants that accept ZIL as a payment can be certain that they will get their money without any problem and practically instantly. Faster payments greatly facilitate the operations of merchants and enable them to work more efficiently.
Complete privacy
ZIL transactions are decentralized and private. In other words, to use ZIL, you do not need to provide your identity info. In fact, there is no authentication process on the Zilliqa blockchain. Basically, Zilliqa lets users utilize ZIL absolutely confidentially and keep their privacy intact. Merchants can benefit from it by featuring ZIL payments and offering them as a private alternative to the mainstream payment options such as PayPal.
Borderless payments
ZIL payments are also perfect for WooCommerce merchants that want to serve a truly global clientele. While international clients can bring tons of money to merchants, there is always a need to set up proper payment infrastructure to let them make purchases in a convenient way. ZIL can be used as a universal payment solution since it is available practically to every person in the world. All you need to make a ZIL transaction is Internet access and a crypto wallet. So, WooCommerce merchants can provide all people on the planet with a chance to purchase their products by featuring ZIL payments alone.
How to install WooCommerce for ZIL payments
As already mentioned, in order to start accepting ZIL on WooCommerce using NOWPayments’ plugin, you need to take several steps. Here they are:
1. First, you will need to create an account on NOWPayments’ official website by following this link.
2. You will be asked to provide your Zilliqa public address (you can also choose other cryptocurrencies).
3. Then, you will need to generate your API key.
4. Next, go to the “Settings” section and generate your Instant Payment Notifications key to receive updates on all payments you receive.
5. Once you have your API key ready, go to this page to download the latest version of the WooCommerce plugin and follow the instructions.
Conclusion
ZIL is the native cryptocurrency of Zilliqa. WooCommerce merchants can deploy a ZIL payment gateway to provide their clients with fast and private payments.