Before diving into the integration process, it's essential to understand the available features offered by 8Pay. These options provide flexibility for merchants to cater to different payment scenarios. Here's a quick rundown of each one.
The One Time feature is designed for non-subscription transactions, making it ideal for e-commerce purchases. Additionally, it offers the convenient functionality of splitting payments across multiple recipients. This empowers merchants to effortlessly handle transactions involving multiple parties.
The Fixed Recurring feature enables merchants to set up recurring payments of a fixed amount at regular intervals. Users are charged the fixed amount at the subscription time and at the start of each billing period. This payment type is ideal for services like gym memberships or streaming services.
The Variable Recurring feature allows for recurring payments of variable amounts at consistent intervals. This is particularly useful for businesses that offer curation-based services or content subscriptions. Merchants can set a maximum deduction amount, providing flexibility while ensuring customers are charged fairly. Users are charged the variable amount at the end of each billing period.
The On Demand feature facilitates customizable recurring transactions. Buyers and sellers can establish a recurring payment agreement, with the option for users to exit the arrangement at any time. Similar to a bank direct debit, this feature grants the merchant the ability to withdraw funds from the user's wallet based on agreed-upon terms, offering convenience and flexibility.
Scheduled Payments empower users to automate their payments, ensuring funds are sent at specific times without the need for manual intervention. Whether it's a one-time scheduled payment or at regular intervals, such as monthly payrolls, this feature streamlines the payment process, enhancing convenience, efficiency, and helping users stay on top of their financial obligations.
Invest (Dollar Cost Averaging)
The Invest feature allows users to automate their crypto investments through regular purchases over time. By employing Dollar Cost Averaging (DCA), users can mitigate market volatility by spreading out their investment costs. This approach enables users to gradually build their crypto portfolio and potentially benefit from long-term growth.
Streamers can leverage the Streaming Donations feature to expand their donation options by accepting cryptocurrencies on popular platforms like Twitch and YouTube. By offering viewers the ability to donate in cryptocurrencies, content creators can enhance their revenue streams and engage with their audience in new and exciting ways.
The Shopify integration empowers store owners to accept cryptocurrencies as a form of payment. By integrating 8Pay with their Shopify stores, businesses can tap into the growing crypto market and offer customers a new and convenient way to make purchases. This integration expands payment options and enables merchants to cater to crypto-savvy customers.
The 8Pay WooCommerce plugin seamlessly incorporates cryptocurrency payments into online stores powered by WooCommerce. With this plugin, store owners can expand their payment options and cater to customers who prefer using popular cryptocurrencies. It simplifies the process of accepting crypto payments, enhancing the overall shopping experience.