Update: This review is for an outdated version of the product
In the search for viable point-of-sale applications for Dash merchants I was asked to look at Cointopay. It seems to offer the ability to sell products using any of close to 100 different coins including Dash.
From the Cointopay website:
Cointopay is a startup company based in Haarlem the Netherlands, officially started in 2014 with development time in 2013. The team consists of a developer, manager and administrator. Our main driver is to provide innovative Internet payment services based on the new Crypto Coins, also known in the media as BitCoin. We are a legitimate business and not politically driven to devaluate the Dollar/Euro. We do think that an alternative to the native payment method will drive up competition and ultimately be beneficial for the general public. Cointopay is a Crypto Coin Payment service provider for businesses and charity organisations. We see a future of financial transactions for alternative currencies like BitCoin at very low fees, secure, instant and very easy and we want to be part of that transition.
They offer a coin exchange service ReflexTrader that frankly just creeps me out – I don’t what an “AI” talking to me. If you go to the page it bounces around and talks.
There are online wallets for each coin tied to the exchange and POS services.
They provide a marketplace for products that can be sold directly off of their website. I setup a product using Dash as the only payment type. I was stopped right there. They charge a .05 Dash service fee. That is currently about $9.00. I setup my product at .08 Dash and the price came up as .131236 Dash. Perhaps that service fee was setup when the price of Dash was much lower (even at $20/D that is a $1 fee).
The marketplace has a very chaotic feel, there is an index and search functionality but I don’t think there is much real commerce going on there especially if the service fees are similar to that of Dash
Cointopay also offers plugins for several ecommerce packages. I did not test any of these – if I wanted a woocommerce plugin for WordPress I would use the one developed for Dash which has no fees or 3rd parties involved. They also have an integration with shopify and this somewhat disconcerting demo video.
Cointopay also offers a REAPI (really easy API) for your own integration to their service. It says they use .5% fee for this and the ecommerce plugins. There is also a Autonomy service that bypasses their wallet and uses your own dashd which must be running on a server.
They also give you limited ability to generate links to use in a webpage – you “could” donate 1 Dash if you wanted to 😉 (please don’t) but if you must I promise to use it for the Dash conference 😉 by the way it will cost you 1.06071 Dash with the fees. Then I am pretty sure there is another fee to move it my wallet.
I have to admit I am somewhat confused by the Cointopay service. They have been in crypto for a long time – this product intro was posted July 8 2014 on the dash forum. But after spending half of a day looking around I don’t see anything to recommend. If you have used this and know where the sweet spot is let us know.