NOWPayments recently announced the support of the ALGO token as part of its payment system. This development will allow merchants around the world to accept the cryptocurrency (ALGO) as a payment method for goods and services online. On the other hand, ALGO holders will be able to spend their tokens just like FIAT 

Find out more about the partnership below:

With NOWPayments’s easy integration and set up process, merchants can accept payments and donations in ALGO cryptocurrency. Merchants will have to first set up an account, choose their integration, and implement it on their online channels to start accepting crypto payments.

Merchants have a wide range of tools to integrate and use to receive payments in ALGO. This includes APIs, CMS plugins compatible with popular e-commerce platforms (e.g. Ecwid, WOOCommerce, OpenCart & many more), widgets and donation buttons, etc.

Holders of the ALGO token will have additional ways and vendors to pay and donate online. With several partners using the NOWPayments platform, users will be able to pay for goods and services using ALGO. Some of the partners include Travala, Crypto Posters, Guarda, and several others.

The auto-convert feature will allow merchants to be paid in only ALGO regardless of the cryptocurrency used as payment by customers. Once a customer pays for a service or goods with let say Bitcoin or Ethereum, the BTC/ETH is automatically converted to ALGO and paid out to the merchant instantly to his/her wallet.

Thanks to the Algorand blockchain protocol and its Layer 1 features, ALGOs can be sent and settled instantly while costing close to no fees. This makes the entire process of purchasing to order fulfillment much swift and cost-effective on the sides of both merchants and customers. 

For more information visit https://www.algorand.com/ or https://algorand.foundation/