Crypto currencies are increasingly being offered by online retailers as purchasing options. According to the Entrepreneur, an estimated 80 000 businesses already accept cryptocurrency transactions today. Among them are Dell, Target, Newegg, Overstock and several other big-name cryptocash adopters. Today we are going to walk you through some of the benefits your eCommerce store can expect by accepting cryptocurrency.
Lower transaction fees
Significantly lower than those charged for credit and debit card purchases. We are talking about reducing your credit card processing fees to 1 percent, which means that if your customer pays for a purchase that costs $1, you will be charged for one penny for payment processing. Sounds good, right?
Important to keep in mind: Comparing with other traditional payment method, cryptocurrency is a cheaper option.
It’s time to say goodbye to nasty chargebacks, credit card fraud and hacked account payments. With cryptocurrency, you have total control over your own wallet, passwords and funds. Your store doesn’t need to hold sensitive customer payment information – divulging names, billing addresses, etc -, reducing the risk of having information stolen. Moreover, cryptocurrencies purchases are irreversible by design, so there are no chargebacks and no returns.
Important to keep in mind: Cryptocurrency transactions protect you and your customer’s purchase from the moment the payment is done until delivery.
Multiple crypto currencies accepted at once
Bitcoin, Ethereum, Litecoin, Monero, Procoin… there are so many new forms of currency popping up it’s hard to keep track of. With a service like UTRUST you can easily accept all of them at once at your eCommerce store.
Important to keep in mind: With UTRUST you can manage to accept multiple crypto currencies at your eCommerce store.
If you use a platform like UTRUST, all payments received will be converted to fiat currency
Payments are processed immediately
With credit cards, it can happen that your funds got locked up for a week or more. With cryptocurrency transaction, you don’t have to worry about it. Moreover, if you use a platform like UTRUST, all payments received will be converted to fiat currency (Euro, USD) to protect you from market price fluctuations. You can then withdraw it to a bank account, keep it in wallet or convert it to other cryptocurrency.
Important to keep in mind: Accepting cryptocurrency payments can put cash within your reach faster than it does when you accept credit card payments.
See also: 4 Reasons Why you Should Pay with UTRUST
Cryptocurrency gives you the possibility to receive payments globally and in countries where your store doesn’t have a physical presence or in places where the customer doesn’t own a credit card.
Important to keep in mind: Cryptocurrency makes cross-border payments easier.
There are a lot of cryptocurrency enthusiasts who are willing to promote your business within the crypto community. If you pretend to gain new customers, you should definitely include cryptocurrency in your ecommerce strategy this year.
Important to keep in mind: Cryptocurrency can definitely help you to build brand awareness.
Despite the belief that cryptocurrencies were just a fad, they seem to be here to stay. And now it’s a great time to explore the potential of cryptocurrency – before your competitors do.
If you want to know more about it, come along. Our UTRUST experts will guide you through the potential of cryptocurrency.