KuCoin launches new crypto payment solution for merchants

Cryptocurrency exchange KuCoin has announced KuCoin Pay, a new payment platform designed to help merchants accept cryptocurrency transactions.

KuCoin Pay is integrated with the KuCoin (KCS) app, used by more than 37 million people worldwide. By leveraging this user base, businesses can connect with more customers while simplifying the payment process.

According to the company’s statement, customers will be able to pay by scanning the QR code or directly through the application.

The purpose of the platform is to make it easier for businesses to manage crypto payments. It offers lower fees, instant payments, and support for multiple cryptocurrencies. KuCoin is specifically focused on making crypto payments more accessible for everyday transactions.

Users can pay for items such as gift cards or mobile top-ups, which could help normalize the use of cryptocurrencies in daily life.

Setting up KuCoin Pay for businesses is simple. Merchants are adding the system to their existing payment platforms, making it easier to start accepting cryptocurrencies alongside traditional payments.

Crypto payments work by using blockchain technology to process transactions. Unlike traditional payment methods, blockchain allows direct peer-to-peer transfers, often with lower fees.