The impeccable growth in the cryptocurrency industry has opened a wide range of opportunities in the e-market for merchants. However, this approach imposes a change in the way making payments. Crypto can be called a new trust model created for the e-commerce sector.
Crypto-currency is bringing frequent change in the world of the payment industry. Merchants often get a little hesitant to incorporate crypto-currency as one of their primary payment modes. However, once a merchant will understand the specific aspects of a cryptocurrency payment gateway, he or she can be a bit more forthcoming.
Here is detailed information about the benefits of a Crypto Merchant Account and its work process.
What is crypto?
In a very simple term, we can define crypto-currency as a form of digital money. Crypto is primarily associated with online payments and designed to be secure and in most cases anonymous. Bitcoin is the most common currency, which was created in 2009 by Satoshi Nakamoto. As per the research and reports, the value of Bitcoin is expected to surge around 600% to hit the $400,000 level in 2021. As a result, Bitcoin is known as the world’s biggest and strongest cryptocurrency.
How does crypto payment work?
Instead of traditional credit cards, a digital wallet needs to be used while making a transaction. A merchant needs to open a crypto merchant account to start accepting crypto payments.
The wallet could be either a single currency or multi-currency wallet.
Merchant can convert received cryptos into fiat anytime by approaching merchant account service provider or crypto exchange. Crypto payments do not have any chargeback and can be processed rapidly.
Why do customers want to use crypto-currency?
Businesses accepting crypto payments can appeal to a wider client base in the market, the reason for this is:
Security
Crypto uses codes that are almost impossible to hack, which makes making either large or regular transactions safer and more appealing to customers.
Availability
Due to the decentralized nature of crypto, it is assessable to all.
Anonymous transactions
Crypto-currency payments are the majority of the time anonymous.
Benefits of accepting crypto payments for a merchant
Cross-border payments are slow
Businesses have a few options to accept payments internationally. Most of them are slow. The banking system can take days. Checks are inefficient, and other payment modes may not be available for every country.
In such a situation, crypto a peer-to-peer payment system allows one to send payment to another without the interference of a third-party facilitator. Payments can be made within minutes with your cryptocurrency wallet.
Merchant protection
Businesses always have the fear of chargebacks and fraudulent transactions. But with the crypto payment system, this is not an issue. Since it is peer-to-peer, no third party can reverse the payment to the customer.
Offering preference to your consumers
Allowing your customers to pay using crypto-currency with an extra layer of protection for their information will be count as an advantage for your business. It will bring more customer and sales worldwide.
Accessibility
A customer can easily send or receive crypto payment using their mobile or computer. Crypto payment does not involve traditional banking system, credit cards and other payment modes to complete a transaction. As a result, it makes it more accessible and more convenient for your customers.
How to get a crypto payment gateway with Amald?
The expert team at Amald is very knowledgeable. They are keen and know their work perfectly. Once you will fill the online form, one of our expert team will contact you. He will briefly understand your business requirements and will come up with an appropriate solution for you. After, he will collect all the mandate document required and will precede your file to the acquirer for the final approval.
Once, your file will get approved. You will get your crypto merchant account and our experts will provide you with crypto payment gateway integration.
Why choose Amald?
World-Wide Banking Network: With its vast network of acquiring banks, Amald offers your crypto merchant account to buy cryptocurrencies with credit cards and debit cards.
Competitive Rates: We aim to provide your services with the lowest rates with the best terms of services. So, talk to our experts for no-obligation rate comparison.
High Volume Credit Card Processing: Get the processing volume capacity you need to expand your business smoothly and efficiently with our crypto merchant account.
Level 1 PCI-DSS Compliance: Make your crypto-currency credit card processing more secure with our PCI compliant payment gateway.
Chargeback Prevention & Mitigation Services: Fight and win against chargeback with Amald. Get all support you need to prevent the chargeback.
Fraud Fighting Weapons: Get powerful fraud fight tools with Amald. We provide you with robust security to stop fraudulent transactions. We support you in monitoring your financial transactions and notify you in case of any suspicious transactions.
Superior Customer Service: A dedicated and experienced team of representatives for your success. Get professional assistance whenever you require 24*7*365.
Contact us
To get more information about Amald and Crypto Merchant Account, connect with our experts by filling an online form available on our website.
