ATLOS.io Pioneers a New Way of Accepting Bitcoin Payments on Merchant Websites

Feb. 22, 2023 - PRLog -- Up until now, there were only two ways of accepting bitcoin payments. One was via a middleman, and the other involved installing and running the Bitcoin Core and an additional payment processing software directly on the merchant's server. Both methods are not ideal for the vast majority of online merchants.

The middleman method is the most common. It works by designating a third party, "the payment processor," to accept payments from customers on merchant's behalf, store bitcoin in the third party's wallet, and then make periodic payouts to the merchants. This method has multiple drawbacks. The payment processor takes custody of the merchant's funds and typically keeps it comingled with funds of other merchants and with its own crypto. This system is vulnerable to hacker attacks and mismanagement.

The custodian payment processor can also freeze the merchant's funds, if it's unhappy with the merchant for any reason, which has been the standard industry practice inherited from fiat payment processing and the legacy banking system. In general, the middleman approach goes against the crypto ethos.

The second method allows accepting bitcoin directly without a middleman. However, it involves installing and maintaining server software on the merchant's backend system. The merchant needs to run Bitcoin Core daemon and some type of software layer that queries the Bitcoin Core and sends commands to the merchant's ecommerce system when a payment is made. This requires technical expertise. If a merchant wants to accept payments on multiple blockchains, not just on Bitcoin, running and maintaining multiple blockchain cores can get quite complex.

ATLOS offers a non-custodial solution for accepting bitcoin payments. Payments are sent directly from customer wallets to the merchant. And, it doesn't require installation of any server software on the merchant's system. Merchants can integrate ATLOS payment widget to their websites by adding just two lines of JavaScript code.

The solution works with any hosting, including shared hosting, and any ecommerce software and shopping carts.

Because of the non-custodial nature of ATLOS services, merchants do not have to go through a complex onboarding procedure to obtain payment processing. Any business can signup by simply connecting their web3 wallet. No KYC, email or phone verification is required.

About ATLOS

ATLOS is a decentralized, permissionless, and non-custodial crypto payment processor that accepts any business. It has low fees, instant merchant onboarding, and supports recurring crypto payments. ATLOS works with multiple blockchains and with various cryptocurrencies. Website: https://atlos.io