Blockchain announced a major upgrade to its Receive Payments API, introducing a seamless and direct way for merchants to process customer transactions and instantly receive payments.
The new version of the Receive Payments API provides major improvements to transaction speed, security, scalability and merchant experience.
How does it work?
The new API uses Hierarchical Deterministic (HD) addresses, which are generated from an xPub. This allows anyone with access to the xPub to create new addresses from a seed in a reproducible way. The API can directly generate the addresses for you that belong to your xPub.
One way to obtain an xPub is to open a Blockchain Wallet. You can also use any other HD-compatible wallet, like MultiBit.
Once an xPub is obtained, Blockchain needs a callback URL (your store website) which will be notified when a payment is received to an address derived from your xPub.