Coinpayments is for hosted wallet solutions and general payment gateway for cryptocurrency ("buy now" buttons, shopping carts, and things like that). They aren't an actual payment processor like Bitpay. They can't convert coins to fiat, so it's not a merchant alternative for Bitpay. But as a consumer, I'd like to see them succeed.
Actually, that would make Coinpayment a proper crypto gateway if that's really the case. The problem with Bitpay and payment processors like them is they're not at all helping Bitcoin gain adoption. If anything, they're preventing it, since they're giving a way for merchants to NOT accept Bitcoin, and yet still access the Bitcoin user market. As you can see now, they're running into a lot of problems, which the Bitcoin user is always going to have to pay for.
Merchants, if they're serious about accepting Bitcoin (or crypto) should actually consider moving up to something like Coinpayments. Only then can they truly say they "accept Bitcoin".
BTW, there are a few issues I've seen now regarding Bitpay no longer accepting transactions despite being confirmed on blockchain. This user's issue (
https://bitcointalk.org/index.php?topic=2791597.msg28550578#msg28550578) seems to suggest they're not even accepting direct wallet payments now, instead, requiring you to go through some kind of payment portal?
Bitcoin's supposed to allow people to pay directly to each other, this is just ridiculous, if true.
Edit: after checking they actually do fiat settlement to US and Euro merchants.