Economy
What’s the Difference Between a Bitcoin Merchant Account and a Payment Gateway
We expect many changes as time passes and various industries develop. Businesses are trying to approach financial management differently, as some are trying to shift from conventional payment systems to blockchain technology and digital assets. Companies are starting to modify their tactics to accept and manage payments made with virtual assets to stay up to date.
This change is not without its difficulties, though. It requires a careful evaluation of numerous variables and a clear comprehension of how they interact. In this article, we aim to draw attention to the important factors that must be taken into account when choosing the best Bitcoin merchant solution.
Essential Concepts in Crypto Merchant Accounts
A merchant account is a special location where companies can hold sales proceeds until they are transferred to their bank accounts in accordance with the conditions stipulated by the merchant service provider.
By creating a link between the business and the client’s bank, these accounts are essential to the efficient processing of card transactions for e-commerce enterprises. These accounts are particularly attractive because there are no processing costs, and cryptocurrency transactions are irreversible, especially in high-risk e-commerce industries.
Crypto payment gateways are connected to merchant accounts, which require thorough identity and business verification in order to conduct transactions. These gateways are essential for facilitating international payments, guaranteeing smooth financial transfers from customers to companies, and discouraging fraudulent activity. By confirming the authenticity of the customer’s card information and approving authorised fund transfers, they verify transactions.
Payment gateways allow companies to accept digital currency by acting as a link between blockchain technology and traditional banking systems. These gateways can use the blockchain network to validate transactions and convert cryptocurrencies into fiat money for an extra fee, which helps to stabilise the market.
The Collaboration of Merchant Accounts and Payment Gateways
When it comes to financial transactions, the procedure usually starts when the customer makes a payment. A processing engine then contacts the customer’s bank to obtain confirmation. The money is kept in the merchant account for a short while after verification and then sent to the company’s main bank account. The client’s information is collected safely and sent to their bank for verification. The bank checks the availability of funds and the validity of the card before approving the transaction.
The payment gateway is obliged to send this data to the bank. Interestingly, merchant accounts—especially those with Bitcoin—have made it much easier for customers and companies to transfer money. The buyer completes the purchase quickly after the payment gateway verifies that it is legitimate.
The Difference
Payment processing companies that accept crypto are essential to guaranteeing safe transactions between clients and companies. After a transaction, money moves from the card issuer to the bank of the merchant and then to the company’s main account.
A merchant account manages transactions made through a business bank, whereas a payment gateway controls the flow of funds during a sale. These elements are essential for handling credit/debit card and cryptocurrency payments, allowing companies to take payments securely and clients to make purchases with confidence.
Integrating Bitcoin Payments into Your Business
Benefits like cost reductions, streamlined transactions, and chargeback protection can be utilised to integrate Bitcoin payments into your business operations easily. Here’s how to get started, step-by-step:
Choosing the Best Crypto Payment Gateway: Make sure the crypto payment gateway you select meets your needs in terms of supported cryptocurrencies, transaction costs, security features, and customer service.
Creating an Online Store: Create a merchant account with the gateway of your choice, making sure it has all the features and capabilities your company needs.
Creating Digital Wallets: To effectively handle various digital assets, set up multi-currency digital wallets to accept Bitcoin payments and make it easier to convert them into fiat money when needed.
Activating BTC Payments: After integration and wallet setup are complete, notify your users that your platform now accepts Bitcoin payments and activate BTC payment options.
Some Additional Things to Consider
Take into account the following elements while choosing the best Bitcoin payment option:
Cost: Choose a payment method that offers fair transaction costs and strikes a balance between affordability and service quality.
Security Procedures: Make sure the payment method you select respects your privacy and has strong security features like encryption, 2FA, and cold storage options.
User-Friendliness: For maximum user convenience, consider a system that provides simple cryptocurrency selection, interoperability with well-known wallets, and smooth integration procedures.
Customer service: Choose suppliers with attentive customer service departments to quickly resolve any problems and guarantee a seamless payment process for your clients.
Supported Cryptocurrencies: Reach a wider audience by leveraging platforms that support a variety of well-known cryptocurrencies, such as ETH and BTC.
Final Thoughts
Payment gateways and merchant accounts are vital parts of any organisation since they make transactions easier and help them stand out from the competition. They are essential in offering effective cryptocurrency payment options.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange further appreciated by 0.23 per cent on Thursday, April 23, with the Unlisted Security Index (NSI) adding 8.99 points to close at 3,969.96 points against the previous day’s 3,968 points.
The rise in the share price of Central Securities Clearing System (CSCS) Plc by N2.86 to N69.34 per unit from N66.48 per unit raised the market capitalisation of the NASD bourse by N5.38 billion to N2.380 trillion from N2.375 trillion.
Yesterday, there were two price losers, led by Food Concepts Plc, which lost 29 Kobo to sell at N2.65 per share versus N2.94 per share, while UBN Property Plc dipped by 22 Kobo to N2.03 per unit from N2.25 per unit.
During the session, the volume of securities traded declined by 97.9 per cent to 451,522 units from 21.5 million units on Wednesday, the value of securities depreciated by 52.32 per cent to N23.6 million from N49.5 million, and the number of deals depreciated by 3.6 per cent to 27 deals from 28 deals.
At the close of business, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis with 3.4 billion units valued at N8.4 billion, followed by CSCS Plc with 59.5 million units exchanged for N4.0 billion, and Okitipupa Plc with 27.8 million units traded for N1.9 billion.
GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units transacted for N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units sold for N1.2 billion.
By Adedapo Adesanya
Fresh foreign exchange (forex) demand pressure saw the Naira depreciate against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Thursday, April 22, by N5.46 or 0.4 per cent to trade at N1,353.91/$1 compared with the preceding day’s value of N1,348.45/$1.
It was the same outcome for the local currency in the official market after it depreciated against the Pound Sterling by N4.13 to close at N1,825.88/£1, in contrast to the preceding session’s N1,821.75/£1, and against the Euro, it dropped 72 Kobo to finish at N1,582.72/€1 versus N1,582.00/€1.
But the Nigerian Naira appreciated against the US Dollar at the GTBank FX desk by N2 during the session to quote at N1,361/$1 compared with Wednesday’s closing price of N1,361/$1, and at the parallel market, it closed flat at N1,375/$1.
FX Pressure came as data showed that NFEM interbank turnover was N28.117 million, lower than the N66.084 million recorded the previous day.
Concerns over liquidity pressures, policy transparency, and confidence in Nigeria’s FX market continue to grip the market while the country’s foreign reserve declines further, even as the Central Bank of Nigeria (CBN) recently said that the recent decline in Nigeria’s external reserves should not be a cause for concern.
Global developments also played a significant role, as rising geopolitical tensions boosted demand for the US Dollar, further weakening emerging market currencies, including the Naira.
As for the cryptocurrency market, there was a mixed outcome as traders reacted to rising geopolitical tensions from the Iran war and fresh inflation data from Japan.
Japanese inflation ticked higher in March, stoking expectations that the Bank of Japan may soon signal rate hikes, which could strengthen the yen and unsettle global risk assets.
The Iran conflict has disrupted oil flows through the Strait of Hormuz, raising energy costs and inflation risks worldwide and potentially complicating efforts by the Federal Reserve to cut interest rates.
Ethereum (ETH) declined by 1.8 per cent to $2,316.53, Bitcoin (BTC) lost 0.6 per cent to sell at $77,935.53, Solana (SOL) fell by 0.5 per cent to $85.67, and Binance Coin (BNB) dropped 0.4 per cent to sell for $634.85.
However, Dogecoin (DOGE) appreciated by 1.4 per cent to $0.0976, Ripple (XRP) grew by 0.7 per cent to $1.43, Cardano (ADA) expanded by 0.6 per cent to $0.2493, and TRON (TRX) improved by 0.2 per cent to $0.3279, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
By Aduragbemi Omiyale
The resilience shown by Nigerian Breweries Plc in the 2025 fiscal year, despite a volatile macroeconomic environment, which consumed several businesses, has not got without notice.
Shareholders of the brewery giant applauded the board and management for the strong recovery and improved profitability recorded in the year.
At the company’s 80th Annual General Meeting (AGM) on Wednesday, April 22, 2026, in Lagos, they attributed these achievements to disciplined cost management and a significant reduction in finance expenses.
“We are proud of how the company has withstood the ups and downs of a challenging environment. The return to profitability and the reversal of the negative cash position recorded in the previous two financial years are commendable,” a member of the Noble Shareholders Association, Mr Owolabi Opeyemi, said at the gathering.
Also, the immediate past Secretary of the Independent Shareholders Association of Nigeria (ISAN), Mr Eke Emmanuel, noted that the company’s resilience reflects strong leadership and a sound strategic direction.
“It is good news that we have been here for 80 years. There is no reason why we will not be here for the next 80 years with what we have achieved. To return to this level of profitability and cash position shows the Board has done an enormous amount of work,” he said.
Addressing investors at the AGM, the board chairman, Mrs Juliet Anammah, expressed confidence that the company is firmly on a recovery path following the net losses recorded in the past two years due to macroeconomic pressures and fiscal reforms.
She thanked shareholders for their continued support and reaffirmed that the company will build on its 2025 performance as it accelerates growth ambitions.
“We have a solid foundation built over eight decades, anchored on a strong portfolio of brands, an extensive nationwide sales and supply chain network, ongoing digital transformation, and most importantly, our people. These strengths remain critical to sustaining our leadership position,” the former chief executive of Jumia Nigeria said.
Ms Anammah also addressed the company’s dividend position, noting that the decision not to declare a dividend reflects the need to rebuild retained earnings impacted by prior macroeconomic shocks, particularly foreign exchange-related losses.
“We recognise the importance of dividend payments to our shareholders and sincerely appreciate your continued understanding. While we are not declaring a dividend at this time due to negative retained earnings, we are working diligently to restore the company’s financial position and return to dividend payments as soon as it is sustainable to do so,” she added.
She further noted that the board remains vigilant to external risks, including the Middle East crisis and broader macroeconomic challenges, which may impact the pace of improvement in the 2026 financial year.
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