Cryptocurrency is a remarkable application of the disruptive technology, which Blockchain has captured international attention with lately. This can provide endless possibilities in future information systems and various Enterprise solutions.

There is an economy developing with many such currencies, each with utilities in various different utilization domains. Some of the major currencies include Bitcoin, Ethereum, and Neo, which have been widely accepted as a currency for payments and as a platform currency creating economy of decentralized applications. As part of this development we came up with this adaptive payment solution accepting various cryptocurrency as a method of payment for ERP solutions, which is going to be the bread and butter for most of the Enterprise Software in coming future.

There can be 2 possible scenarios for accepting the cryptocurrency as payments

1) Accepting it via some payment processor which allows for the creation of a Merchant Profile on their centralized system. This is where we are dealing with a temporary fund custody of the payment processing party (Trusted maybe).

2) Accepting the funds from customers directly into the desired wallet, which is in full custody of our Software and thus unleashing the true power of trust-less decentralization. With our payment solution we've strategized the workflow based on the 2nd strategy i.e. direct fund transfer eliminating the third party processors.

Pay with BTC

Cart Checkout View (Pay with BTC)

Upon checkout using the Pay with BTC, acquirer module asks for the customer address using the type of payment that will be used for the particular order upon locking.

Cart Checkout Use prior saved BTC Address   

Similar to using the credit card information on the repeated purchase, the module allows the quick checkout using the customer’s saved BTC payment address.

Cart Payment method Locked

Proceeding with the payment upon locking the order in the cart checkout workflow, the module shows the Destination payment Address where the Amount needs to be transferred using the customer's Wallet.

Payment Acquirer Configuration

Configuration of the BTC acquirer module involves the Merchant BTC wallet address specification. 

Roadmap

With the acceptance of cryptocurrency another requirement arises for the seamless settlements of those different cryptocurrencies or to exchange it with the respective fiat currency. We consider this accounting need as our future roadmap.