As payments in cryptocurrency are slowly but surely replacing payments in the currencies we are used to, traditional payment providers are also starting to give way to crypto-processing.
Advantages of accepting cryptocurrency on the site:
- Geographic coverage. Users in almost any country can pay for the service of a company located in any other country. With cards and e-wallets, this is often not possible.
- Passability. Traditional processing or a bank may refuse to process a transaction for many reasons – for example, if it is a payment on a casino website. In such cases, cryptocurrency is the optimal solution: a blockchain wallet, by definition, cannot block a transaction.
- Low fees. Even taking into account the processing fees, the costs of crypto transactions are about 1% of the amount.
Technically, the process is carried out using OpenAPI – open programming interface technology that allows you to integrate various solutions from manufacturers.
The introduction of open banking in the long term provides significant advantages, not only for merchants, but also for the online payment industry in general:
Creation of a competitive system among financial service providers;
Stimulating the development of new banking products and introducing innovations in the financial sector;
Based on analytical data on cash flow, cyclical or seasonal nature of the services provided to the client, the bank will accelerate the prompt consideration of applications and quick decision-making for obtaining banking products;
Convenience and ease of use of traditional banking products;
Clients will be able to manage funds in single payment space, in different banks, in a “one window” mode using a single application, as well as a selection of lucrative offers and services without being tied to one bank;
Сhange your bank account or service provider in minutes.
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