• Lower transaction fee

Many digital payment companies charge 2-4% per transaction, such as Stripe, Square, and PayPal. Many e-commerce companies would include these fees into their items’ prices, which leads to high costs. Cryptocurrency transactions typically charge no fees, such as Bitcoin’s Lightning Network, or only charge much lower fees, which can be as low as 1% or even less. To increase liquidity and settle quickly, merchants can convert cryptocurrencies into fiat such as U.S. dollars. You can become a merchant with AURPAY or choose to become a partner and utilize your margin of merchant resources monetization. Strengthen value-added services to your merchant clients.

• Non-custodial fund management for security

Since cryptocurrency uses blockchain technology, it is difficult to steal and counterfeit, reducing the risk of fraud. Because currency exchange happens instantly on the blockchain, it cannot be reversed or counterfeited, protecting merchants from fraudulent chargebacks or returns. This way, all crypto transactions are final as no third party can change the charges. For example, in AURPAY’s smart contract application, after merchants deploy a smart contract, it runs automatically. Merchants have absolute control over their funds, so no one, including companies, can control your assets. You can learn more about AURPAY’s innovative smart contract application.

• Increased market expansion for a global customer base.

Accepting crypto transactions can expand your online brand’s target market and drive new customer traffic. Imagine if your business could accept global payments in cryptocurrencies. It would benefit your e-commerce branding with tech-friendly consumers in the emerging crypto market that grows quickly. Additionally, international transactions have become simpler, cheaper, faster, and without third parties, making it easier for online brands to expand across borders.

• Quick transactions

Blockchain technology allows faster peer-to-peer transactions that can simplify business cash flow. This is very different from credit card transactions. Buyers need to fill in many fields when checking out credit card transactions, but when they use cryptocurrency transactions, buyers only need to scan the QR code with a digital wallet, and blockchain transactions will happen instantly. There will be a great checkout experience for customers and dramatically increase customer satisfaction and retention.

• Reduce fraud and chargebacks

Contrary to popular opinion, the blockchain technology used in cryptocurrencies will reduce fraudulent activities. Cryptocurrency transactions are real-time, irrevocable, and unforgeable. It would significantly reduce fraudulent chargeback. If you keep your private key securely in your wallet, your funds will be 100% safe.

Ecommerce Stores that can enable crypto payment

Today, Bitcoin and other cryptocurrencies are accepted at these locations, checkout how to enable crypto payment for your e-commerce in these platforms:

● Shopify

● WooCommerce

● opencart

● Wix

● Squarespace

● BigCommerce

● Magento

As shown in the following chart: