How we helped a crypto payment provider develop a comprehensive B2B platform
At Evrone, we use advanced technologies to help both large enterprises and small start-ups develop complex, high-load projects. We stay up-to-date on current technological developments, so we can utilize the best tools and methods to meet our client’s needs. Our experience and expertise allowed our team to help create a B2B platform for the Cryptopay blockchain integrator, which allows companies to integrate a cryptocurrency payment option for their partners around the world.
What is Cryptopay?
Cryptopay was founded in 2013 and began its journey as a Bitcoin wallet. As one of the frontrunners in the industry, it stood out from other cryptocurrency exchange platforms by issuing its users a prepaid card, which they could use to make both online and offline purchases. Gradually, the company transformed into a cryptocurrency payment gateway, first in Europe, and then around the world.
Now, in 2020, Cryptopay is an integrator for payment system tools and transactions for the purchase, sale, and exchange of cryptocurrencies. Here is a shortlist of what Cryptopay allows you to do:
- Receive, store, exchange, and send BTC, ETH, LTC, and XRP.
- Buy and transfer cryptocurrencies to your personal bank account in the SEPA zone or by using Faster Payments.
- Buy Bitcoins, Lightcoins, Ethers, and XRP with card payment.
- Order a plastic or virtual prepaid card and use it like a regular debit card.
- Open a corporate account and start accepting Bitcoin payments from customers.
Due to its high security, hedging, and high-speed transactions, Cryptopay has become one of the best crypto payment service providers. Cryptocurrency payment acceptance and processing is especially useful for European companies that may lose money due to varying exchange rates.
In order to increase Cryptopay’s presence in the global market, its creators needed to accelerate the development of its products. So, they turned to the crypto payment gateway app development experts at Evrone for help.
Evrone and Cryptopay began working together at the end of 2016. At that time, Cryptopay had two main products:
- The Cryptopay prepaid card and crypto wallet, with a system for transactions between companies and consumers.
- A newly developed B2B system with a single-user account for the client, using invoices as a tool for accepting and sending payments in BTC.
The Evrone team’s task was to help Cryptopay further develop those products and create and integrate a multi cryptocurrency payment gateway for crypto payment processing.
Our goal was to:
- Support the current B2C crypto/fiat payment system.
- Develop a service to work with all current and future card issuers.
- Help with the creation of a full-fledged B2B crypto payment gateway solution.
- Design an infrastructure for storing and processing card data.
- Ensure the service would pass PCI DSS certification.
Creating a B2B Module
One of the big tasks entrusted to Evrone was the development of a B2B module. The module is a key element for helping companies integrate their cryptocurrency assets into day-to-day finances. With the module, clients can open cryptocurrency accounts, accept cryptocurrency payments from their clients, and convert cryptocurrencies to fiat on the fly, and vice versa.
Evrone engineers assisted in the development of the merchant-functionality of the module and its expansion. So far, we have helped Cryptopay:
- Connect payment system APIs and add cryptocurrencies to payment systems.
- Add a multi-user account option, allowing for separate merchant and employee sub-accounts.
- Implement invoices as a tool for accepting payments in BTC, XRP, LTC, ETH, and BCH and introduce a tool to send payments in these cryptocurrencies.
- Add payment channels for accepting payments in cryptocurrencies.
- Develop an embedded widget and page for offline cryptocurrency payments, for merchants without an API.
- Add a transaction monitoring system for fraud protection.
In addition, we introduced several features to improve processing and resolve errors. We also helped finalize the trading system for the B2B module.
The results and new goals for 2020
The current major goal is to restart the card program for European and Asian Cryptopay clients, which we have been working on for the last year. In 2020, the Evrone development team will continue to support and develop a B2B system for Cryptopay, while the frontend is being ported to SPA (single page application).
Thanks to the coordinated effort between the client’s technical team and the experts at Evrone, Cryptopay has been able to grow into a secure crypto exchange service that implements both B2B and B2C interaction models.
We are certain that their active development in the cryptocurrency market is only the beginning for Cryptopay. Evrone will use all of its expertise to help the company develop new breakthrough products. Large-scale projects, like Cryptopay, are Evrone's speciality, and we are always looking for companies to partner with to develop innovative new solutions and products. Contact us if you want to transfer your project to a modern technological stack and entrust the development to experienced professionals.