Fraud screening tools
Minimize the risk associated with potential frauds
Merchant processing
Enable scalability of your business endeavors
Easy integration
Easy integration for all crypto solutions
Nexthash payment processor is a software that monitors different cryptocurrencies on multiple blockchains, extracts transaction data and generates new cryptocurrency transactions on demand. These blockchain transactions can represent payments initiated by a customer as well as cryptocurrency deposits to or withdrawals from a platform. It also inspects whether blockchain transactions have been confirmed and sends acceptance or rejection notices back to the claimant. In this, the payment processor validates the transaction by checking the customer's payment method details and available balance in order to confirm that the payment has been executed and realized.
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Minimize the risk associated with potential frauds
Enable scalability of your business endeavors
Easy integration for all crypto solutions
Nexthash payment processor is a software application used by payment providers or applications to easily and securely integrate the option of crypto payments into their solutions. Blockchain-based payments are becoming a relevant payment method on the market and are continuously advancing towards mainstream use. Taking this into account, every future commercial platform will come to a point when it needs to integrate a safe and secure way for processing payments with cryptocurrencies. The processors have already overcome a number of technical challenges and are now capable of tracking multiple cryptocurrencies, tokens and other digital assets through one simple unified interface; thus, they have become a reliable channel that connects merchant applications with the emerging world of cryptocurrencies.
The payment processor enables accepting cryptocurrency transactions from non-custodial crypto wallets – mobile applications that enable independent generation, signing and propagation of blockchain transactions with several cryptocurrencies. Several implications are possible in combination with a white-labeled crypto wallet, from payment systems to remittance solutions.
The processor serves as a bridge between blockchain technology and server-based applications, providing translator functionality for the claimant’s software solution. The processor is a vital part of blockchain payments integration and helps validate cryptocurrency transactions so that the business applications are not at risk of being compromised.
To minimize the risk associated with potential blockchain-related frauds and malicious behaviour, our Nexthash payment processor is equipped with multiple tools that offer an insight into the validity of the transactions. The usage of such software significantly reduces the risk of accepting fraudulent or illicit blockchain transactions as valid.
Once the processor is integrated with a merchant’s software, it enables scalability of your business endeavors without the need for additional payment solutions. If you have already integrated the processor for the purposes of e.g. a merchant platform, you can also expand its usage to system migration, exchange trading and other types of platforms. You only need our Nexthash payment processor, a single instance of software that can enable several platforms to use its services as separate users. Consequently, you are able to track everything in one place while cutting the extra cost of further integrations.
The most significant advantage of the payment processor is the fact that it allows millions of users simultaneously, making it possible for you to purchase or sell goods and services whenever you want.
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Whether a customer wants to place an order on an e-commerce platform, at a point-of-sale in a physical location or wants to deposit cryptocurrencies to their account on a platform, the platform calls the payment processor, which provides a unique blockchain deposit address. The customer sends the funds to this deposit address and the processor tracks if the transaction has been successfully accepted by the blockchain network. When the payment is confirmed, the payment processor informs the platform about the success (or failure if the transaction is not valid) of the payment, and stores the payment data to its database. It also manages collected cryptocurrencies and sends them to the secured cold storage address if necessary. When a payment with cryptocurrency is made and the respective point-of-sale is connected to the payment processor, a variety of tasks are performed by it to process the transaction.
The Nexthash payment processor is thus able to process:
- deposits of cryptocurrencies where the deposit amount is not set in advance and
- payments in cryptocurrencies where the payment amount is known at the moment of payment initialization.
To support both processes, a fully developed set of API calls and webhook responses have been developed to fully support business logic applications – payment schemes, online exchanges, gaming applications, investment applications, etc.
Applications are able to model the entire flow with intermediate and final transaction confirmations tailored to your needs and requirements. The payment processor uses the same principles and API calls for all blockchains / cryptocurrencies, which makes the integration straightforward.
Additional rules for minimum and maximum amounts can be applied; if the limits are breached, a certain flow of actions can be performed (i.e. returns). Deposits of mismatched cryptocurrencies are also monitored but require administrator intervention.
The Nexthash payment processor can set different confirmation rules for each blockchain or secondary layer system. The rules can also be set according to the payment amount (double spending risk management).
