GoMining is bringing Bitcoin payment services to more merchants. The company has released a software development kit (SDK) and application programming interface (API) for GoBTC Pay, allowing merchants to integrate Bitcoin payment functionality into their everyday goods and services.

BTC is delivered to merchants by default.

This move puts GoMining in more direct competition with Block's Square's Bitcoin payments business. Both are pushing merchants to accept BTC, but their payment methods differ. GoMining's solution defaults to merchants receiving Bitcoin directly, rather than first converting it to fiat currency.

GoMining states that GoBTC Pay transactions are settled directly on the Bitcoin network. The company claims the system is built on its Stratum V2 mining protocol, with an average settlement time of approximately 12 hours.

• The merchant transaction fee rate is 0.2%.
• The fees are split equally between the wallet service provider and the miners.
• The first phase of the plan will introduce 10 merchants.

Square defaults to converting to US dollars first.

Many similar services currently allow consumers to pay with Bitcoin, but merchants typically receive fiat currency by default. CoinDesk reports that Square has also been pushing its own Bitcoin payment service over the past year, primarily through the Bitcoin Layer 2 network, Lightning.

In Square's model, merchants typically receive USD by default and only retain BTC if they actively choose to. In contrast, GoMining sets "merchants directly hold Bitcoin" as the default setting. If merchants wish to receive fiat currency, they need to handle the exchange themselves.

GoMining bets on merchant-retained Bitcoin.

GoMining CEO Mark Zalan stated that the company aims to address several long-standing issues with BTC payments, including volatile transaction fees, slow settlement speeds, and unstable arrival times, while retaining the features of non-custodial and on-chain final settlement.

With the SDK and API now available, merchants and developers can build products and services around GoBTC Pay. GoMining believes that more companies will be willing to directly receive and retain Bitcoin, rather than just using BTC as a payment gateway.