A couple of years ago, businesses were in constant need of solutions that make online payments seamless, fast, and secure. They found their answer when they started observing an increase in crypto adoption. From online purchases to investments, individuals are actively using crypto payments. In 2021, the global crypto adoption rate jumped over 800%. This is why businesses have started to accept crypto payments on their platforms. But, they need a robust crypto payment gateway that not only enhances the payment experience but also the operational efficiencies. This article will explain the benefits merchants will get when they integrate the best payment gateway into their payment systems.
Allow us to show you the issues with current payment systems.
It is not a secret that the transaction fees associated with the current payment systems are extremely high. This has a significant impact on merchants’ profit margins, especially on small-scale businesses.
Another issue is delayed transaction processing. This particularly affects cross-border ones that can take several days to process. This delay can be inconvenient for both merchants and consumers.
- Fraud and security risks:
Current payment systems are highly vulnerable to fraud and security breaches. Credit card information can be stolen through various means, and accounts can be hacked, resulting in substantial financial losses and security concerns.
Merchants with small online stores often face challenges integrating payment processing in their e-commerce platforms. Compatibility issues and the need for technical know-how can disrupt smooth transactions.
We’re certain you also might experience these issues. This is why you should consider accepting crypto payments by integrating a reliable crypto payment solution.
As a merchant, adding the best crypto payment gateway to your platform provides exceptional benefits.
Expand customer base:
Cryptocurrencies have gained significant traction in recent years, with a growing number of individuals and businesses adopting them as a preferred method of payment. Accepting crypto payments allows you to tap into a new market segment that includes early adopters, tech-savvy consumers, and those seeking alternative financial solutions.
Signing up without KYC:
According to a survey conducted in 2021, 84% of consumers in the US expressed that they were concerned about online privacy. This is an alarming statistic. Understanding the growing concerns surrounding privacy, this payment gateway allows its users to make crypto transactions without going through KYC registration.
Offers lowest processing fees:
Crypto transactions involve lower processing fees than traditional payment systems due to the decentralized nature of blockchain technology. This can significantly reduce your operating costs. Integrating this crypto payment processor offers 0.23% on crypto transactions, making it the most affordable payment processor in the market.
Faster & more secure transactions:
Cryptocurrency transactions are processed quickly, often within minutes. This provides your customers with a faster checkout experience. This crypto gateway also offers security features such as Two-Factor Authentication (2FA), which enhances the security. Besides, merchants can also control their withdrawal limits by enabling and disabling API withdrawals from their wallets.
Integration flexibility:
For small businesses, this crypto payment processor is a blessing. It offers user-friendly APIs and plugins that simplify the integration process with a variety of platforms and e-commerce systems. These are designed to be incorporated into your existing setup easily.
If the above-mentioned offers grabbed your attention, let’s see how you can integrate the gateway into your existing system.
Steps to Integrate Crypto Payment Gateway
Create your account:
The first step is to create your account on the crypto gateway. As mentioned above, you can easily register without KYC.
Set up digital wallet:
The next step is to create your digital wallet for making crypto transactions. All you’ve to do is simply add the necessary details.
Integrate the processor:
For seamless crypto transactions, the payment gateway offers complete crypto payment API documentation for easy integration. Depending on your platform, you can also install plugins.
Test the integration:
After the integration is done, test the integration to ensure the functionality of the gateway. Make certain transactions to detect any bugs or errors.
Start accepting crypto payments:
Once the integration is thoroughly tested, you can enable crypto payment options on your platform and start making crypto transactions.
To accept cryptocurrency payments, the need for a robust crypto payment processor is essential. Integrating a payment platform like Coinremitter addresses the challenges of traditional payment systems by offering the benefits discussed here. With the added benefit of ease of integration, accepting crypto payments can significantly enhance your business’s operational efficiency and overall payment experience.