Ecommerce is the fastest emerging market concept that is drastically replacing conventional ways of shopping. Whether it is a product or service, everything is available online. Along with websites, mobile applications are also occupying a large market share. For all these businesses, payments processing is still a big issue especially while trading internationally. The currency value differences and cybersecurity threats are two major issues in conventional payment processing. Crypto payment processor is the most feasible solution of current times for various e-commerce problems. Scroll down to know about it in detail.
What is a crypto payment processor?
Payment processors are the buttons available on two websites and mobile applications providing facility to the customers for making monetary transactions. Conventionally, there are two types of payment processors available on most of the online portals i.e
- Card payment
- Digital wallet payment
Some of them are valid locally whereas others can help in making global transactions. A crypto payment processor is the most recently introduced technology. It is also a kind of currency wallet but meant for making transactions in cryptocurrency.
Why should a cryptocurrency payment system be a part of your business?
The best thing about cryptocurrency is its equal value throughout the world. No foreign exchange or other banking system is required to regulate the currency. It is basically a decentralized system working on blockchain. Cryptocurrency payment systems should be a part of your business because it makes eCommerce much easier. Below are some reasons you must read.
- Fast payments processing
Crypto payment processor is capable of reflecting money in your account much faster than conventional modes of payments. Even for international transactions, it hardly takes 10 to 15 minutes.
- Maintain equal value globally
The cryptocurrency payment system treats every customer equally throughout the world. No matter whether you are living in the African or European continent, the value of a product or service in cryptocurrency will remain the same.
- Robust cybersecurity
Blockchain is the security technology currently available for making online transactions and sending other types of information. This digital ledger is nearly unbreakable because of decentralized technology and high-level encryption.
- High return on investment
Blockchain is an open-source technology which means you don’t have to pay for utilising its services. The only expenses are applicable to digital wallet and data management console provided by a crypto payment processing company. Moreover, the transaction charges are also negligible. While making International payments through the currently trending conventional payment modes, you have to pay at least 4% of the total amount as transaction charges.
Apart from these 4 amazing benefits, the crypto payment processor also helps in maintaining the privacy of both seller and buyer. All transactions are executed with the help of public and private keys. Only public-key remains visible to the nodes connected within a blockchain instead of the customer’s name address or other contact details. With an increasing number of countries accepting cryptocurrency, the customer base will also increase in the upcoming days. Therefore, install a cryptocurrency payment button on your website or mobile application as soon as possible.