Mageworx WAVES Crypto Payments for Magento 2 is a free payment module that integrates your web store with one of the most popular cryptocurrencies – WAVES. After installing the module, you will be able to accept WAVES tokens as a payment option on your website and get access to the benefits provided by the WAVES innovative platform. With the WAVES, your customers get an option for secure and transparent payments, while merchants take advantage of the advanced payment fraud and chargebacks prevention. Moreover, since WAVES works on the fastest blockchain allowing to process hundreds of transactions per a second, you receive profits in your wallet almost instantly. Another significant advantage of the WAVES platform is reduced transaction fees, which are just the fraction of the cent!
Below, we describe the Mageworx Magento 2 module’s features in more detail and shed light on how it is configured from the backend and frontend.
- Quick integration with the WAVES payment method
Adding cryptocurrency payments to a Magento store can be a real challenge, as you have to configure the backend appropriately and customize frontend design for smooth user experience. The Mageworx extension allows integrating your website with the WAVES blockchain platform in a click without any technical skills required.
- Instant and secure payments processing
One of the most significant advantages of the WAVES payments compared to the credit card transactions is their speed and a higher level of security. Processing payments on the WAVES platform takes literally less than a second. As for security, the WAVES works on the blockchain that uses decentralized mechanisms for converting your funds into tokens.
- Full protection of customers’ data
With the WAVES payment method, your customers can be assured that their privacy and security concerns will not be undermined.
- No risk of chargeback frauds
All ecommerce merchants know what a headache it can be to handle chargebacks and refund orders on an online store. WAVES integration can help to avoid losing money on chargebacks by introducing irreversible payments, which means that a funds receiver takes full control over refunding issues. Moreover, the WAVES Crypto Payments module helps to detect chargeback frauds.
- Secure international payments
If you are using WAVES network for payments on your online shop, you do not have to worry about any insecurities that can occur when processing international payments. WAVES enables you to accept orders from anywhere in the world with lower fees and higher security.
- Low transaction fees
Normally, an online store owner has to pay around 3% on every transaction plus monthly fees if they use major payment providers. WAVES payment integration lets you significantly save money on transactions processing with their low fees. You will need to pay just 0,0001 WAVES per transaction, which is less than 1 USD cent.
The module’s main settings can be configured from Stores → Settings → Configuration → Mageworx → WAVES Crypto Payments. If you want to test how your settings work first, you can enable the test-net mode. Note that you should create a test-net wallet for these purposes. Then, you need to specify your wallet address, which you will receive after you create an account on the WAVES platform. You can also specify Recipient’s Wallet Additional Addresses without limitation on their number. Next, enter the conversion rate adjustment if you want to regulate the exchange rate manually. Setting distinct surcharges for different store views is possible. In Exchange Rate you can select a rates provider from the available options, or choose the Fixed Rate option.
To set up payment methods for accepting WAVES cryptocurrency, navigate to Stores → Settings → Configuration → Sales → Payment Methods. Here you can configure Waves Remote Payment and Waves QR-code Payment.
In the Waves Remote Payment tab, you can enable/disable the payment method, specify its title for the frontend display, and choose applicable and specific countries from where you want to accept payments with this method.
Also, you can set minimum and maximum amount for the order total and decide on the sort order for the position of the WAVES payment in the list of all available payment methods on your store.
You can configure all the options mentioned above for the Waves QR-code Payment as well, plus three more additional settings. Here you can create Failure Message that will be visible to a frontend user in case a transaction was not processed. Enabling/Disabling ‘Manually Check Transaction’ buttons defines if it will be visible at checkout to allow customers to complete their orders after the automatic check time has been exceeded. Here you also enable/disable timer on the checkout page.
Another configuration section for the QR-code payment method is Developer Settings. Here you can specify the values of the automatic timer for blockchain requests: pause before blockchain requests are sent; request timeout; request delay.
It is also necessary to mention fraud prevention functionality provided by the WAVES Crypto Payments module. Admin users can view WAVES payment block in the orders, invoices, and shipments.
The ‘Fraud’ stamp will be shown instead of the ‘Paid’ one, in case the sum paid and the initial amount to be paid are not equal, or the transaction ID couldn’t be found on the blockchain.
The Mageworks crypto payments extension adds WAVES to the list of the available payment methods at checkout. As we have already mentioned in the backend section, you can add either QR-code payment method (convenient for shoppers who use WAVES wallet on smartphones) or remote payment (suitable for web wallet).
First, let’s see how the WAVES QR-code payment type works. After a customer selects WAVES as a payment method, they will see the WAVES logo, title, description, and other information regarding the payment according to what you specify in the backend. In the example below, default title and description are displayed:
If a customer doesn’t complete the payment during the specified time, ‘Manually Check Transaction’ button will appear. After clicking the button, blockchain request will be sent manually to find the relevant transaction and complete the payment. If a transaction can’t be found, ‘Transaction ID’ field will be displayed allowing a customer to enter corresponding string from their WAVES wallet.
As for the WAVES remote payment, it will look like shown below on the checkout page:
After a user clicks ‘Place Order’, they will be redirected to the WAVES website where they will need to log in and then proceed to payment. After logging in, a popup will appear displaying the amount to be paid and ‘Confirm’ button.
The extension adds the block with WAVES payment details to the Payment Method section of the order page in the customer account area.
Magento 2 WAVES Crypto Payments by Mageworx provides merchants with essential functionality to start accepting cryptocurrency as payment for the orders on your store. What makes it even more valuable is that the extension is absolutely free, so no reason to hesitate if you need to buy it or not! As usual, Mageworx offers free lifetime updates and bug fixes for the module. Besides, you will get professional support from the certified Magento specialists when you buy the crypto payments extension. The company also has plans for implementing WAVES token in their other solutions, so follow the news to keep yourself posted!