Cryptocurrency ECommerce Payment Processing
Move Your Business Into The Future And Accept Cryptocurrencies On Your ECommerce Website

Secure Cryptocurrency ECommerce Processing

Crypto is quickly becoming the next big thing for ECommerce. Forward-thinking companies considering adding cryptocurrencies to their payment options are looking to position themselves as a brand that is ready to push the envelope, provide additional service advantages to their customers and advance service fee savings and privacy value-add to their clients.

First Mover Advantage

One of the main motivators for first movers is getting in on the ground floor of a new opportunity before their competitors. By the time they begin to understand where the new direction is opening up, the first mover is well ahead, kinks worked out, marketing and positioning tried and tested – they're on their way to bigger profits. As motivations go.

At the same time being the Early Mover is not for everyone. Especially in a space where there are multiple unknowns and areas to learn, first movers are usually best suited as comfortable with technology, willing to learn new concepts, and accepting of calculated risks.

The Security of the Blockchain

Accept all forms of payments at your Point of Sale with a wide variety of advanced credit and debit card processing services. Take advantage of the powerful combination of our merchant-level in-store strategic experience with our partner consultation and competitive rates.

Bitcoin Plus Altcoins

Accept Bitcoin, Litecoin, Ethereum and many others being added regularly. After the success of Bitcoin the broader asset class of Altcoins now refers to Bitcoin-like alternatives. They position themselves as having advantages over Bitcoin, and in many cases they do, if you don't count valuation – yet.

Process Anywhere

Money in your hand! Get paid on the spot blockchain-style. Your mobile devices can act as your payment gateway whether you're running a popup shop, at a show, or using on the floor sales staff.

Your Broader Strategy

Getting a position in cryptocurrencies, far less expensive processing fees, nearly instant processing times for money in hand, providing alternate payment options for your clients – these are just the beginning of a great many business opportunities that could provide a significant boost in growth directions for your business.

Distinct from Traditional Payments

Traditionally, credit cards make up a disproportionate part of ECommerce payments.  While some merchant processors have become more competitive, there are still ongoing challenges: several days' delay receiving funds; fees can add up; dispute resolution mechanism often works against merchants.

Quick Cryptocurrency Primer

Just to clarify, there are no "coins" being carried around with cryptocurrencies, Bitcoin, Litecoin, Ethereum, and the rest. Cryptocurrencies are entirely digital and live in their own respective Blockchains. The Block-what-now? A Blockchain is a kind of global-internet "ledger" (nerds hate it when we call it that because it's so much more) that keeps a secure record of every transaction exchanged between parties.

The "block" in Blockchain are linked together in such a way that the sequence of the blocks cannot be guessed or fabricated; they are created as they go in real-time and are replicated around the world. The whole blockchain must be in agreement with itself in order to confirm the validity of a transaction and it checks itself constantly. If someone tries to tamper with one part of a transaction in one block, all the other blocks around the world will see that it's in disagreement and declare it to be invalid, thus preventing tampering.

As a result, the entire blockchain "agrees" that your transactions exist; that you really do have 10 Bitcoin in your wallet; that you really did sell 1 Bitcoin to another user, and so on.

Since blockchains for any cryptocurrency is distributed and decentralized across all participating computers and wallets, there is no central controlling bank, government, or entity. This provides the advantage of the blockchain being quicker, more reliable, cheaper, and untethered to government policy.

So Why Accept Cryptocurrencies?

In short, legitimacy. Not because it is legitimate already, but because it could be headed in legitimate territory. Large enterprise is beginning to invest heavily in these currencies. Large incumbent ECommerce players such as Amazon, Target, Newegg, Dell, and many more beginning to accept it as payment. Processing gateways have already started to mature and the risks of accepting cryptocurrency has shrunk to almost nothing. While the potential benefits of improved cash flow, customer satisfaction, and the bonus of an ever increasing value makes for a boost in business.

Here are some benefits your ECommerce store can expect by accepting cryptocurrency:

  • Cryptocurrency payments are “push” transactions. Meaning that they’re initiated by the buyer. As a result chargebacks are basically impossible.
  • Payments are also processed immediately into your crypto account
  • With “push” transactions, your ECommerce store won't hold or safeguard sensitive customer payment information, reducing the risk of having information stolen. It's the responsibility of the blockchain, this is a very good thing.
  • Minimal to no processing fees. You can accept payments and exchange crypto into USD/CAD/GBP/EUR easily through third-party processors. Coinbase, one of the most popular processors, charges 1% or less to convert crypto to dollars.
  • By accepting cryptocurrencies as a form of payment, you increase customer adoption and satisfaction and could reconnect with past customers. You build your reputation as an industry leader and build brand awareness.
  • Gain new customers who are cryptocurrency enthusiasts that will help promote your business within the crypto community.
Part of Your Ecosystem

We look for every advantage and value proposition to give our businesses a leg up in a global competitive landscape. If you feel that cryptocurrencies might appeal to your customer base and demographic, it might be time to investigate.

Traditional ECommerce Payments

Traditionally, credit cards make up a disproportionate part of ECommerce payments globally. In addition, some ECommerce operations allow for PayPal, ACH, or Direct Debit, and on some rare occasions, a cheque is still accommodated.

Play or Don't Play

It's early days for Cryptocurrencies – early phase for development and market adoption. Digital currencies like bitcoin will remain as hyper volatile assets for many years. For the high volatility rate of cryptocurrencies to decrease, the market will need time to mature and evolve. Large gains and losses of 10% and more on any given day are quite likely to occur frequently.

For ECommerce businesses what does this mean? Volatility will mean that decisions will need to be made as to how you hold currency you receive from clients and customers. Cryptocurrencies are experiencing the scrutiny and reaction of the markets to their true perceived value and credibility – some reduced to near-zero value. Are you willing to hold bitcoin positions regularly and remain in the market? Do you prefer to limit market exposure and sell regularly? This strategy may change over time with experience.

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