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    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.

Secure Cryptocurrency Processing

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 and Altcoins

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.

Mobile Cryptocurrency Processing

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.

Business Case

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.

First Mover Advantage

First Mover AdvantageOne 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.

Quick Cryptocurrency Primer

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 exists; 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.

credit card payment

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 in some rare occasions, cheque is still accommodated.

While security, terms and processing have improved and become more competitive, there are some fundamental truths to these methods : 

  • there are a few to several days delay in being in posession of funds
  • there are not insubstantial fees involved
  • dispute resolution mechanism, while well intentioned, has created an unintentional side effect of a myriad of fraudulent chargebacks as a de facto cottage industry of its own

In short; it's fine. At best it's "fine" and ECommerce operations take their merchant relationships as a necessary evil.

Play the Maturing Market

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.

Cryptocurrency Value Chart

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. 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.

Research

So Why Accept Cryptocurrencies?

In short, because everybody's starting to do it. But not because it will become fashionable, but because it is becoming legitimate. 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.