The more days, the easier it is to use Bitcoin in daily payment transactions. The BTCPay server, the server used in the processing of free open-source Bitcoin payments, announced on Friday, June 26, 2020 the addition of several new features to facilitate online merchants in handling crypto payments on their sites.
The BTCPay server helps merchants process Bitcoin payments. The system helps them arrange invoices. Transaction handling software, which was launched in 2017, also offers a default wallet for storing and sending BTC.
Update 1.0.5 brings many new features, including payment, notification and refund features.
To issue a refund, the merchant can now authorize the amount of BTC given to ‘withdraw’ from the escrow. In the current design, the sender still needs to authorize the payment manually, the plan to automate the process is entirely on the BTCPay road map.
Before adding a refund, the sender and recipient must coordinate the address and payment amount, often requiring several messages back and forth. Now, merchants can generate refunds directly from invoices, no communication or additional processes.
Other Plans for BTCPay Server Updates
The BTCPay server also provides notifications to traders who use this service. Notifications will be available in payment confirmations, partial payments, and more, which will later be managed through a special notification page. Additional updates in the future will add notification preference options and API support for BTCPay Server notifications.
Funds for BTCPay Server Updates
As reported by Decrypt, earlier in June there was a grant of $ 150,000 given to the BTCPay server by the Kraken crypto exchange, in order to celebrate and honor United Nations Micro, Small and Medium Enterprises Day.
The grant was given to the BTCPay Server Foundation, launched in 2019 to manage these contributions. This award follows a commitment in May 2020 of $ 100,000 over 12 months by OKCoin, and a contribution of $ 80,000 in March 2020 directly to core contributor Andrew Camilleri in supporting full-time work on the project.
As software becomes more powerful, there is a big chance that smart e-commerce sellers will be increasingly interested in open source, no-cost alternatives in centralized payment processing.