Paxful Pay is great if you are selling access, online, or physical products. The integration allows you to add new payment methods, in addition to the ones you currently have. You don’t have to worry as the process is chargeback free.
As a merchant, you do need to be willing to accept payment in BTC but there are many ways to convert it to your local fiat currency.
Merchants have control over the configuration of the solution and can track every transaction through a track ID. On every successful payment, a callback can be configured which can be set up to release the goods to the buyers on the merchant side.
Merchants have a complete transaction list available on their Paxful Merchant Dashboard.
As a merchant, you are safe as Paxful uses a secure URL token system to prevent phishing. To enable automatic send-outs to your Bitcoin address, you’ll need to use our secure token system. Check out the developer page for more information.
The amount you can earn depends on the number of completed transactions.
With every successful transaction, you’ll see the transaction in the Merchant Dashboard. You can also set up a “callback solution” to automate the actions on your end.
Payments are handled in Bitcoin. This means you can keep them as BTC in your Merchant account for exchange for EUR/USD/etc. There are many services available for this, you can even use exchanges such as Kraken.
Note: There is an extra step to move the funds from your merchant account to your Paxful wallet, but don't worry—this won't cost you anything.
Currency: You can request the payment in either BTC or in FIAT currency (Paxful can convert the sum based on the market price).
Sum: Normally you define this, but there is an option to request all user’s Paxful balance (or if the balance is 0, then let the user define it).
Registration: You can define the user email, to make the purchase process easier.
Receiver: By default, funds are deposited on your merchant account balance but it is possible to configure deposits to any Bitcoin address.
Callback: You have to define the Callback address which can handle the callback parameters.
The full list of technical parameters is available here: (https://developers.paxful.com/documentation/pay-with-paxful).
For buyers, the purchase process will be a bit different. They need to complete a trade with another person.
Please refer to this article for the full list of Paxful fees.
There is no direct limitation to the purchase sizes but for large sums, a buyer might have to do multiple trades and also vendor can request additional KYC procedures.