Accepting bitcoin payments online has never been easier. You can accept bitcoin payments directly from your store using the Bitcoin Payments by Speed plugin.
- It enables low-cost, secure, and lightning-fast bitcoin payment processing.
- There are no setup costs, monthly fees, or hidden costs.
- It provides robust and adaptable payment processing capabilities.
- Create your account and start accepting bitcoin payments in no time.
- Transaction fees are significantly lower (1%) than credit cards (2.9% -3.4%).
- There is no risk of chargebacks or fraudulent payments.
- Accept cross-border payments without the involvement of a bank. It's simple to go global with Speed.
- Speed uses real-time bitcoin prices to save you from losing your revenue.
- Withdraw your balance instantly in bitcoin or USDC.
- Your customers will have a smooth checkout process.
- Easy setup. No much coding knowledge required. Connect Speed with your store by simply copying and pasting your secret keys.
- Integrate quickly by filling in the required details, and your store will be ready to accept payments via Speed.
- The plugin interface allows you to easily switch your transactions from live mode to test mode or vice versa. It’s a great feature to configure the plugin according to your expectations and validate your transactions before going live.
- You can also keep track of the order payments regularly on the Speed Web application and get confirmations quickly.
Download it now at: Magento Marketplace.
To install Bitcoin Payments by Speed plugin, you need:
- Magento Open Source Version 2.4 or newer (installed). Tested up to: 2.4.6
- PHP Version 7.4.29 or newer
- Speed account. If you don't already have a Speed account, sign up for one here.
- Log in to Magento Admin.
- Go to Magento Marketplace.
- Search for Bitcoin Payments by Speed. The author is Speed.
- Add the plugin to your cart and place an order.
- Login to your Adobe account. Make sure it is the same as the Magento admin.
- Go to Marketplace » My Purchases.
- Locate the Speed plugin and note its component-name and version number.
- Update the Magento composer.json file by opening the command prompt and running the command “composer require tryspeed/magento-payment-plugin:1.0.0” to add the extension to your site.
After installing the Bitcoin Payments by Speed plugin, it must be configured.
To configure your Bitcoin Payments by Speed plugin, go to Stores » Configuration » Sales » Payment Methods » Recommended Solutions. Click
There are 3 types of settings tabs you will find on the Speed Configure page.
The plugin status here will be enabled, as the plugin is already activated after installation.
First, you can choose the
- If you want to test payments before accepting real bitcoins, select the transaction mode as Test. You can simulate various payments in test mode.
- However, if you want to start accepting payments with Speed, select the live mode and save your changes.
Whichever mode you select, you will find the mode displayed on the top-most right corner of the Speed Configure settings page.
- Although Speed by default suggests the
payment method nameand
description, you can modify them as you see fit.
- Next, you will see the
statement descriptor, which is additional information about a payment made to your account via Speed. You can add a customized one as well.
- Enable the logo or no logo button, depending on whether you want your payment page to show the Speed logo or not.
Next, let’s fill in the Test and Live settings’ required fields. For Test mode details, make sure you turn on the “Test mode” toggle in Speed web application. For live settings, keep this toggle off.
- Enter the Publishable API keys in test mode to configure the Bitcoin Payments by Speed with a new or existing Speed account (copy the keys from your Speed web application) by keeping the toggle on in Speed web application.
- Fill in the webhook URL and Webhook Test Signing Secret Key. Click here for more instructions.
- Click on the
Test Connectionto see if Test / Live keys provided establish a successful connection or not. As this would be required to connect your website to your Speed account.
Webhooks will help keep the communication between Speed and your site synchronized. It provides information such as whether the payment is received or not and is used to update the orders based on certain events.
Let us see the steps to enable webhooks for your Magento website.
- Head to Stores » Configuration » Sales » Payment methods » Bitcoin Payments by Speed. Click Configure to configure your Bitcoin Payments by Speed settings. Under the Live/Test settings section, you’ll find a webhook endpoint URL ready for you to copy and paste into your Speed web application.
- Log into your Speed web application with your login credentials.
- Navigate to Dashboard → Developers → Webhooks. (with “Test mode” enabled or disabled, depending on which mode is being configured).
- On the left sidebar, click
- Paste the webhook endpoint URL you copied earlier into the
Endpoint URLfield, and enter a
- Select the
versionof your choice.
- Click next. You will see a list of events. Select your desired events. Make sure to select the following events at a minimum.
- For example, you must select below given events,
- After selecting events, you can see the selected ones in the sample endpoint code on the Speed web application.
- Click Add endpoint. This will take you to the webhook detail page, where you can find the webhook endpoint status, secret, id, and many other details.
- Copy the Signing secret (wsec_xxxxxxxxxxxxxxxxxxxx) after clicking Reveal.
- Back in Stores » Configuration » Sales » Payment Methods » Speed » Test/Live Settings, paste the secret into the Webhook Signing Secret Key field.
- Test your connection, and if it is successful then you are good to go using Speed at your website.
- If this was done in test mode, repeat the process after switching to live mode.
Your customers can easily complete their payment by selecting the Bitcoin Payments by Speed option on your store, as shown below. At checkout when the customer selects Bitcoin Payments by Speed payment, they will be redirected to the Speed payment page to complete the crypto transaction.
On the Speed payment page, customers can make payments in bitcoin or via the Lightning Network. Learn more about each payment method here. Customers who choose to pay via bitcoin can make partial payments for their orders.
When a customer makes a partial payment, the order status will be pending. The customer can make the remaining payment on the same on-chain address or the Lightning Network using the QR code on the Speed payment page. The same Speed payment page can be generated by going back to the cart (without updating it) and then selecting the Bitcoin Payments by Speed payment option at checkout. This will take the customer back to the same payment page where they can make the remaining partial payment.
If a customer clicks back on the Speed payment page, they will be redirected to the cart page of your Magento store with the cart retained.
Updated 3 months ago