Ethereum: a comparison of payment systems between Paymium, Bitpay, Coinbase and others

In recent months, several payment systems have drawn attention for their innovative approaches for cryptocurrencies. Two notable companies that have received banks licenses in France are Paymium and Bitpay. While both platforms share some similarities with traditional payment systems, they also have different differences. This article will provide an overview of the differences and similarities between these payment systems.

Paymium: a new player in the cryptocurrency space

Paymium is a French company that has been licensed as a bank without providing any financial service to its customers. In March 2022, Payium received a license from the Banking of France (the Central Bank of France) to operate as a payment service provider (PSP). This license allows Payium to accept and process payments, but does not allow it to provide traditional banking services, such as deposit or loan accounts.

Bitpay: A payment solution for cryptocurrencies

Bitpay is an American company that also received a license from the Bank of France. In May 2022, Bitpay received permission to operate as a payment processor (PP), which allows him to process the payments made using cryptocurrencies such as Bitcoin and Ethereum.

Coinbase: an exchange of well -established cryptocurrencies

Coinbase is one of the largest and most established cryptocurrency exchanges in the world. In June 2022, Coinbase received permission to operate as a payment service provider (PSP) by the Bank of France. While Coinbase does not provide traditional banking services, it can facilitate transactions using cryptocurrencies.

Comparison of payment systems

Here is a summary comparison of Paymium, Bitpay and Coinbase:

* Licenses : The three companies have received licenses from the Bank of France to operate as payment service providers (PSP) or payment processors (PP). However, the Payium license specifically allows you to accept and process payments without providing traditional banking services.

* Payment processing

: Bitpay is a more advanced payment solution that can process transactions using cryptocurrencies. Coinbase is also able to process cryptocurrency transactions, but has limited functionality compared to Bitpay.

* Transaction rates : The rates for the payment services of each company vary. Payium charges about 2-3% of transaction rates, while Bitpay charges between 1-5% depending on the amount of the transaction. Coinbase does not charge any fee for its payment services.

Similarities between payment systems

Despite their differences in licenses and payment processing capabilities, the three companies share some similarities:

* cryptocurrency support : The three companies support cryptocurrencies such as Bitcoin and Ethereum.

* Mobile application : Many of these companies have mobile applications that allow users to send and receive payments using several cryptocurrency options.

* SECURITY

: The security of the platform of each company is essential, with established measures to protect the user’s funds and avoid illegal activities.

Conclusion

Ethereum has become an innovation center in the payment space, with several players competing for market share. Payium, Bitpay and Coinbase have received banks licenses in France to operate as PSPS or PP. While each company has its unique strengths and weaknesses, they share some similarities in their cryptocurrency support, mobile application capabilities and security measures. As the payment panorama continues to evolve, it will be interesting to see how these companies adapt and innovate in response to the changing conditions of the market.

References

• Banking of France. (North Dakota.). Payment services.

• Payium. (North Dakota.). About us.

• Bitpay. (North Dakota.). About us.

• Coinbase. (North Dakota.). About us.

• Google News. (2022, June).

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