Using cryptocurrency in your business is not a far-fetched notion; indeed, it is an absolute necessary now for merchants to include in their service offering.
iPayTotal, a premium UK payment solutions company, has done due research and has provided its merchants with a platform for crypto exchange. — The reason for this vital move is to keep up with what the world has already started to see as an important payment option.
What does this mean for your merchant account?
If you have a merchant account already then you are one step ahead, but in order to open up to potential customers all over the world, incorporating the acceptance of Bitcoin payments will automatically place your business among the already 150 million users.
The integration of this added service to your merchant account is seamless and will not affect your business model during the onboarding/integration process.
What do the experts say?
Owing to COVID-19 there was indeed a rise in crypto. Founder and CEO of Zumo, Nick Jones, commented on Fintech Finance Magazine, saying that “crypto is here to stay”. In the article, they added that “trust has never been higher, and people are starting to make the move in a very real way.”
Furthermore, according to this successful wallet and payments platform, crypto has become a mainstream feature in which data supports this claim, showing that in the past six months over 50% of all crypto users have acquired the currency in this short period.
Jeff Booth, author of “The Price of Tomorrow”, shared his insight into the role of cryptocurrency in a recent article. Booth’s findings were expressed in a very telling comment in which he shows his full support of this growing payment option, and indeed, solution.
“It is rather fascinating to watch human psychology as Bitcoin emerges because while dismissing Bitcoin outright as a store of value, many of the same market participants faithfully believe in the absolute value of a yellow-coloured rock, or a piece of paper with faces and names on it (that they know is being actively manipulated),” Booth commented.
According to Bloomberg, the “rising tide of Bitcoin adoption is simply prudent for the gold allocators increasing the risk of the metal heading towards redundancy in a world going quickly digital” — this evidence-supported statement is shared by iPayTotal’s view of the need for merchants to incorporate Bitcoin as a service offering or payment acceptance.
Finally, with research from JP Morgen, it is suggested that Bitcoin could climb as high as 146,000 USD as it competes with gold as an alternative payment method or currency.
Accepting Bitcoin eliminates chargebacks. This, in itself, is a major benefit to high-risk merchants whose chargeback ratio is high. A great benefit that merchants across the board should seriously consider incorporating.
In addition to this, Blockchain technology prevents any fraud or cyber-attacks against your business.
There’s also a true eradication of any volatility risk because all settlements are performed in local currency, transferred to your bank account directly.
The benefit in adding this option to your merchant account is great because it elevates your business among others and allows customers to make purchases in a safe and secure way.
Advice from iPayTotal regarding Bitcoin
As the evidence can show in respected predictions, it must be clear to merchants that adopting this currency option or payment alternative can only increase revenue and place a merchant’s business ahead of competitors.
It’s time to learn from the growing research and the great technological benefits in order to compete in a digital world of online purchases, giving customers the options they need.
To incorporate a crypto-exchange platform into your website today, call iPayTotal on +44 800 776 5988 or email email@example.com.