Cryptocurrency payments have significantly influenced e-commerce and other online businesses. Modern business owners are quickly adopting cryptocurrencies as a mode of payment because of secure transactions, lower fees, and global accessibility. In the era of quick crypto payment adoption, a leading crypto gateway named CoinRemitter is revolutionizing e-commerce platforms and online businesses to conduct online transactions. In this article, we will explore the impact of this payment gateway for cryptocurrency on online businesses and e-commerce.
The Rise of Crypto Payments in E-Commerce and Online Businesses
Traditional payment methods such as credit cards, bank transfers, and payment processors have dominated both sectors for a long time. However, they have some disadvantages, including high transaction fees, chargeback risks, and geographical restrictions. On the other hand, cryptocurrencies provide a decentralized alternative to traditional methods, which eliminates intermediaries and allows direct peer-to-peer transactions. In this transition, the crypto payment processor mentioned above allows businesses to accept payment in crypto with additional benefits, driving their overall growth.
CoinRemitter’s Impact on E-Commerce and Other Online Businesses
1. Higher Number of Consumers
Businesses can reach a wider audience in multiple ways, but one of the easiest ways is to support multiple cryptocurrencies. Not everyone holds the same cryptocurrency. So, this payment gateway allowed businesses to reach multiple customers by allowing them to accept payments in multiple cryptocurrencies. This flexibility has helped business owners expand their reach globally, with a significant rise in the number of consumers.
2. A Simplified Crypto Payment Method
Some business owners may not be skilled enough to perform integration and accept crypto payments directly on their websites. This crypto payment processor offers multiple ways to integrate cryptocurrency payments. Businesses that are built on platforms like WordPress (WooCommerce), Magento, PrestaShop, etc, can integrate crypto payments using open-source plugins. Rest can use the crypto API as an alternative.
On the other hand, there is a separate tool to integrate crypto payments into pricing plans, which is the Pricing Widget. This tool lets businesses create a pricing widget without coding, integrate it into their websites with a ready-made JavaScript code, and let their customers pay in crypto for their preferred plan. This tool lets businesses accept crypto payments while maintaining convenience. Such convenience has inspired more businesses to come forward and enter the crypto payment ecosystem.
3. Cost-Efficiency and Increased Revenue
No business owner can ignore fees while transacting online, as they may directly affect profits. Though crypto payments are considered a synonym for low fees, businesses always look to minimize them to increase profits without inflating product prices (and losing customers). This payment gateway for cryptocurrency charges only a 0.23% processing fee along with the network fee, which makes it a crypto payment service provider with the lowest processing fee. Because of this payment gateway, e-commerce platforms and online businesses have started spending 50% less on crypto processing fees and managed to earn more without inflating prices much.
4. Elimination of Chargeback Fraud
Fraudulent chargebacks have always been a headache for e-commerce and other online business owners. Cryptocurrencies themselves are considered to be a reliable solution to eliminate chargeback fraud. This crypto gateway carries the same advantage, allowing businesses to eliminate transaction disputes after a successful delivery, potentially eliminating financial losses. This has helped online business owners to be more confident when delivering their products or services.
5. Enhanced Security and Privacy
Some businesses may be worried about security, especially when transferring funds online. On this crypto payment gateway, business owners can easily detect unauthorized account access and prevent it using internal security features. Also, this platform allows businesses to disable API withdrawals and reduce the daily withdrawal limit to prevent fund loss due to unauthorized access.
On the other hand, business owners don’t need to submit their private information, such as identity proofs or other documents, when signing up. This ensures the online privacy of business owners. The combination of privacy and security has ensured the ecosystem stays trustworthy even without revealing any personal information.
Conclusion
Cryptocurrency payments are becoming essential for e-commerce and online businesses. CoinRemitter makes it easier to accept payment in crypto while maintaining security and affordability. With its easy integration, low fees, and fraud prevention features, it empowers businesses to expand their reach and improve their financial efficiency. With the growing adoption of crypto payments, this crypto payment gateway has impacted the e-commerce industry and other online businesses in a beneficial way.
