One of the reasons behind Blockchain technology rising to prominence is its improvement of financial transactions. It brought forth a secure way of financial transfers with lower transaction fees, thus the name cryptocurrency. As a means of payment, Blockchain technology brings a cost-effective, secure and traceable solution, where using personal information is brought to a bare minimum.
Personal information in Blockchain technology is only used when there is a dispute or legal infringements. By lowering transaction costs, it opens up opportunities for businesses of all sizes through micro-transactions. Small amounts that would be transferred on a global basis with classic means would incur costs that would make them unfeasible.
Cryptocurrencies have witnessed mass adoption, making them a viable option for companies. By service providers offering exchange for fiat currency, they’re the future of doing (not only) online business.
The PLAAK team is an industry leading service provider of Blockchain technology solutions. Our integration of cryptocurrency with various software solutions through advanced application payment gateways is unparalleled.
Benefits of using Cryptocurrency Payments
Blockchain technology is a rare opportunity which brings companies, entrepreneurs and their respective customers closer and provides benefits for all. One of the reasons behind having a Blockchain Payment system is the status of cryptocurrencies in the market as innovative solutions, which reflects on the company or entrepreneurs brand awareness.
As the Blockchain community is a growing trend and enthusiastic about cryptocurrency, they view companies that use cryptocurrencies in high regard. The value for both sellers and buyers is manifold and manifests itself through the following 5 steps to improve your business:
1. Global access to products and services
Apart from adding a payment option that gets rid of the middleman and enables you to lower prices by lowering transaction fees, cryptocurrencies are a way to give access to customers where other secure payments aren’t available.
2. Fraud control and advanced dispute resolution
Widely accepted secure payment methods serve as mediators and ensure customers that their data and payment will deliver a product without compromising their data. However, cryptocurrency is actually an upgrade as the service provider or seller doesn’t hold any of the customer’s financial data except for the transaction confirmation.
The service fees for secure payment mediators are unnecessary as a record is kept of transactions and in case of the provider being unable to distribute the service or product, the compatibility that comes with cryptocurrencies results in a faster and effortless dispute resolution. In case of payment mediators, they have a large customer base and usually provide a complicated and stressful mediation option.
3. Cost-cutting for both service providers and clients
Blockchain technology is designed to be the most efficient payment option. It relies on a decentralized solution and eliminates the costs that the upkeep of a local bank involves. By using the processing power of the community and every coins proprietary security, it lowers costs of transactions.
This can be constructive for service providers as it opens up the opportunity for payments on a per-use basis. A large amount of small transactions can contribute to the rise of small service providers and selling items on a global scale that wouldn’t be profitable without Blockchain technology.
4. Cost-effective payment hardware
Whilst the widest adoption of cryptocurrency at present is in E-Commerce and online services, it’s gradually being implemented in retail. Companies aren’t only looking at the future they’re actually attracting customers at a very low cost.
Instead of acquiring licensed proprietary hardware, cryptocurrency payment can be used in local stores on most I.o.T. connected devices, such as smart phones or tablets. The seller or the owner needs a merchant account and one of the aforementioned devices and it’s safe to say any customer has a device that has the capability to install a wallet.
5. Quick and transparent international transfers
The usefulness of Blockchain Payment Integration comes at full force when international transfers are concerned. In classic payment forms, it may take days to confirm a transaction between banks. Using a credit or a debit card may seem simpler to the uninformed while the truth is quite the opposite. When using the banking system, you’re dependent on the regulations that banks impose on your account.
Such changes might be frequent and it’s impossible to keep track with the conditions and terms that you have to comply with. Blockchain technology is designed to cater to the international community and strives to upgrade its service as its operating costs are already down to a minimum. Cryptocurrency issuers are focused on security and keeping their user base up to date with developments, so the chances of a customer not being up to speed with the terms are abysmal.
Our Blockchain Payment Integration Services
To bring the benefits of cryptocurrency payments to you or your company, we offer the following services:
Setting up Merchant Accounts
As Blockchain technology innovators, we can setup and configure any cryptocurrency that has a wallet that is suitable for business applications. Different coins can be more appropriate according to the use case. Blockchain technologies are one of the areas of expertise in PLAAK which is why we can offer advice based on your needs. On a client’s demands, we can create or modify an existing wallet, be it an online, software or hardware wallet to suit your needs.
For stores that need an interface for their devices to seamlessly conduct transactions with their clients, we can provide applications that can be deployed on tablets or smart phones. Your clients will be able to pay by scanning a QR code and confirming the transaction.
E-Commerce Blockchain Payment Integration
Blockchain technology can be the next big development in E-Commerce. Some popular large-scale companies have already taken advantage of Blockchain Payment Integration. The fact that other payment methods may not be available to sellers or service providers as well as customers, using cryptocurrency can give that competitive edge over rival companies and entrepreneurs.
We can offer Blockchain Payment Integration for established E-Commerce platforms, web stores that are based on a CMS as well as custom websites. We offer web design as one of our services which should vouch for the quality of our services.
Micro Payment Solutions
When it comes to micro payments, cryptocurrency is not one of the solutions, it’s the only solution. It has already seen implementations in electric energy trading in communities. For this particular utilization, we offer services from technology development, UI/UX solutions and modifying existing solution for your economic needs in particular.