Cryptocurrency payments firm, MoonPay, has made significant enhancements to its non-fungible token (NFT) checkout process.
The improved MoonPay Checkout is built on top of its initial NFT checkout widget, making the buying experience of digital artworks, collectables, and memberships more streamlined.
The tool has now reduced NFT purchasing to just a few steps, enhancing user experience with easy logins through connectivity to Google and Apple accounts. The submission process of know-your-customer (KYC) documents has also been simplified.
To make it easier for people who are new to cryptocurrencies and do not have a crypto wallet, users will be given the option to generate a non-custodial one during checkout.
The tool also supports a number of varied NFTs across 41 blockchain networks. This includes top networks like Ethereum, Solana, Polygon, and Flow.
In order to expedite the purchase process further, users can mint multiple NFTs in a single transaction. This would be of benefit to those who want to acquire or mint various NFTs simultaneously.
These changes are in line with MoonPay’s goal to make the NFT acquisition experience more accessible and user-friendly to both seasoned collectors and newcomers to the space.
New features for businesses
MoonPay has introduced new features for businesses as well. This includes covering user gas fees and offering customised smart contracts.
Custom visual themes have also been added to enhance the buying experience for brands.
Along with these, the firm has also guaranteed robust security with 100% protection against chargebacks and fraud.
Leading NFT marketplaces, like OpenSea and Magic Eden, plus Ethereum Name Service (ENS), have already implemented MoonPay’s enhanced tool.
This rework of the checkout process is aimed at providing a comfortable NFT buying experience for users. This is “one of the biggest barriers for brands”, said MoonPay’s CEO and co-founder Ivan Soto-Wright. He added:
“What was once a five-screen process is now a seamless, four-click experience that makes it simple to purchase digital collectables in just seconds. We are merging the technology of Web3 with the high-quality user experience that customers expect in Web2.”
Earlier this year, the firm established itself as a go-to platform for global crypto transactions by launching a crypto mobile app for 130 countries worldwide.
Marketed as an “all-in-one platform”, the app offers an easier way for Bitcoin holders to see their transactions, pricing history and top-ups on the go, leading to a more informed and active community.
More recently, MoonPay joined hands with the world’s second-largest payment-processing corporation Mastercard. The partnership is aimed at exploring how Web3 tools can enhance experiential marketing to connect with consumers in new ways.
MoonPay president, Keith Grossman, commented on this, saying: “Mastercard will take advantage of MoonPay’s entire Web3 portfolio, including auth to minting to ETHPass and more, as well as work closely with our agency, Otherlife, for strategy, creative and front-end dev work for their experiential initiatives.”
