As businesses and individuals seek more versatile and secure payment solutions, many are reconsidering their options between Apple Pay and Coinbase Commerce. This article aims to provide a comprehensive overview of both platforms, detailing their features, pricing, and unique benefits to help you make an informed decision on which service best suits your needs.
A quick overview on Apple Pay and Coinbase Commerce
What is Apple Pay?
Apple Pay is a digital wallet and mobile payment solution by Apple Inc. that allows users to store their credit, debit, and prepaid cards digitally. It enables secure, contactless payments using Apple devices like iPhone, Apple Watch, iPad, and Mac.
Unique features include seamless integration with Apple devices and enhanced security through device-specific numbers and unique transaction codes. Common use cases for Apple Pay include in-store purchases, online shopping, in-app payments, and peer-to-peer transactions via Apple Cash.
What is Coinbase Commerce?
Coinbase Commerce is a cryptocurrency payment gateway that enables businesses to accept various cryptocurrencies for goods and services. It supports payments across multiple blockchain networks, including Base, Ethereum, and Polygon, allowing customers to pay with their preferred wallets and currencies.
Unique features include easy onboarding, volatility-free conversions to USD Coin (USDC), and instant settlement directly to the merchant's wallet. Common use cases involve expanding payment options to reach a global customer base and reducing operational costs by eliminating chargebacks and maintaining low transaction fees.
Pricing of Apple Pay and Coinbase Commerce
Apple Pay does not charge users any fees for making transactions. However, standard fees associated with the user's credit or debit cards may still apply, as determined by their issuing banks. This means that while Apple Pay itself is free to use, the overall cost can vary depending on the user's bank policies.
Coinbase Commerce, on the other hand, charges a 1% fee for all cryptocurrency payments received. This fee is deducted in the settlement currency of the transaction, making it a straightforward cost for businesses to consider. For example, a $100 purchase using Ethereum would incur a 1 USDC fee.
Apple Pay offers better pricing for users, as it does not charge any additional fees for transactions.
Features of Apple Pay and Coinbase Commerce
Apple Pay features
Apple Pay offers several unique features that cater to consumer needs:
- Seamless Integration: Apple Pay is built into Apple devices, allowing users to add their credit or debit cards to the Wallet app and make payments without the need for physical cards.
- Enhanced Security: Utilizing device-specific numbers and unique transaction codes, Apple Pay ensures that actual card numbers are neither stored on devices nor shared with merchants, thereby enhancing transaction security.
- Privacy Protection: Apple does not store transaction information that can be tied back to users, ensuring that purchases remain private.
- Broad Acceptance: Apple Pay is accepted at over 85% of retailers in the U.S., including vending machines, grocery stores, taxis, and subway stations, as well as within apps and on websites.
- Convenience: Simplifies the payment process by eliminating the need to carry physical cards and supports quick payments through Face ID and Touch ID.
Coinbase Commerce features
Coinbase Commerce offers several unique features that cater to the needs of businesses and consumers alike:
- Easy Onboarding: Simplified onboarding process and out-of-the-box integrations with platforms like WooCommerce, Primer, and Jumpseller.
- Volatility-Free Conversions: Automatic conversion of the client's chosen currency to USDC, ensuring stable value for merchants.
- Instant Settlement: Funds are received directly in the merchant's wallet with instant, error-free payments.
- Reduced Operational Costs: No chargebacks to manage and a low 1% transaction fee.
- Onchain Payment Protocol: An open-source universal standard developed to unify and simplify crypto payments.
Comparing Apple Pay, Coinbase Commerce and OneSafe
Why choose one over the other?
- Why Choose Apple Pay Over Coinbase Commerce: Apple Pay offers seamless integration with Apple devices, making it incredibly convenient for users who are already within the Apple ecosystem. Additionally, its enhanced security features, such as device-specific numbers and unique transaction codes, provide a higher level of security for everyday transactions compared to the volatility and complexity of cryptocurrency payments.
- Why Choose Coinbase Commerce Over Apple Pay: Coinbase Commerce allows businesses to accept a variety of cryptocurrencies, providing a global reach and eliminating the need for currency conversion. This is particularly beneficial for businesses looking to reduce operational costs and avoid chargebacks, which are common issues with traditional payment methods like those used by Apple Pay.
Considering OneSafe vs Apple Pay and Coinbase Commerce
- Why Choose OneSafe Over Apple Pay and Coinbase Commerce: OneSafe offers seamless USD to USDC conversion on Polygon, making it ideal for businesses operating in the Web3 and crypto sectors. Unlike Apple Pay and Coinbase Commerce, OneSafe provides end-to-end expense and payroll management, ensuring effortless fund management and quick payments for global teams.
What are the customers saying?
Apple Pay reviews
Based on user reviews, the general sentiment towards Apple Pay is overwhelmingly negative. Users frequently report issues with unauthorized charges, difficulties in obtaining refunds, and challenges with subscription management. For instance, some users have experienced multiple charges without consent and faced significant obstacles when seeking refunds. Check out more Apple Pay reviews here.
Coinbase Commerce reviews
User reviews of Coinbase Commerce present a mixed sentiment. Common criticisms involve limited customer support, with reports of slow response times and unresolved issues. Some users have also expressed concerns about the limited number of supported cryptocurrencies and occasional technical issues affecting payment processing. Check out more Coinbase Commerce reviews here.
OneSafe reviews
Users have consistently praised OneSafe for its exceptional customer support, ease of payroll processing, and the platform's ability to simplify complex banking tasks for Web3 companies. The seamless USD to USDC conversion on Polygon and end-to-end expense and payroll management are standout features that users find particularly useful.
- “OneSafe has the best customer support I've ever experienced from a bank.” - Amit Chu, Investments @ Celo Foundation
- “OneSafe is a game-changer. They solve so many headaches for our company. Finally a banking solution that gets it.” - Marco, CEO of Ensuro
Want to learn more? Check us out here.
Apple Pay, Coinbase Commerce, or OneSafe: Which is the best platform for you?
In conclusion, whether you choose Apple Pay, Coinbase Commerce, or OneSafe, each platform offers unique benefits tailored to different needs. However, for businesses looking for a comprehensive solution that simplifies global payments and payroll management, we recommend OneSafe. With its seamless USD to USDC conversion on Polygon and exceptional customer support, OneSafe stands out as the ideal choice for modern businesses navigating the complexities of the Web3 and crypto sectors.
