What Is A Crypto To Fiat Payment Gateway
With this kind of gateway, customers make purchase on merchants website using crypto assets. The merchants get to receive funding in well known Fiat Currencies.
In the year 2021, we have seen cryptocurrency hit an all-time high of $50,000 per unit. This means that more and more people are switching towards crypto payments. The trend is fast growing in European and Emerging Markets. Business owners have also realised the trend and have started looking for robust Crypto To Fiat Payment Gateway. At Quadrapay, we have established a strategic partnership with a well known Singapore Crypto To Fiat Payment Gateway Company. This solution can be considered a game-changer in the retail and eCommerce payment space.
There are three key reasons why Crypto To Fiat Payment Solution will have a significant impact on how we transact.
- Lower Fees than card payment gateways. We all know that merchants pay an MDR(Merchant discount rates on each transaction). This MDR varies on the type of card used by the cardholder. The cardholder also pays an annual charge on the card. However, in the case of Crypto payments, the transaction charges are minimum. With crypto being linked to global decentralised setup, the rates of crypto assets have only increased. In simple terms, its less expensive to do transactions of crypto assets than to use card gateways.
- Minimum Declines/No Bin Blocking. With Card processing solutions merchants may experience transaction declines. This is because card processing companies block various Banking Identification Numbers. Some times card issuers also block the card usage in specific nations. With Crypto To Fiat Gateway, this problem is solved, and merchants can enjoy a very high transaction success ratio.
- Fast Settlements. No Need to Wait for T+3 and T+4 Settlement Cycle. To reduce the credit risk, many merchant acquirers place a hold period on the account. This may be seven days or even higher. In case of low-risk merchants, the settlement takes 2-3 days. With tha Crypto fiat gateway merchants are settled the very next business day. This helps in increasing the cash flow, and merchants can run their business with greater confidence.
Type Of Industries Most Suitable For Crypto To Fiat Currency Payment Gateway.
- Ecommerce Crypto To Fiat Merchant Account. Small and Large eCommerce sites can utilise this method in crypto-friendly nations. Many eCommerce sites have already started accepting crypto assets. If you have an eCommerce website and are using a shopping cart, then the integration is relatively easy. Our Partner provider offers easy setup API and also ready-made plugins.
- PSP Crypto To Fiat Merchant Account. Payment Service Providers that require settlement options for merchants can approach this solution. These days the PSP market has become very competitive. Major Card brands are feeling the pressure because of various alternative payment methods. PSPs with a visionary mindset has already started exploring these solutions. If your organisation is a payment service provider and needs more info, then email us at [email protected] PSPs can also use this solution to offer crypto acceptance to there merchants. Our provider is scalable and highly competitive and is already working with some fast-growing payment providers why you are still waiting. It is time to get into the game of crypto acceptance.
- Money Remittance/MSB Crypto To Fiat Payment Solution. We have been assisting EU based Money remittance and Money Service Business/Broker companies with Card Payment options. However, this new solution can undoubtedly make a significant impact on the total revenue of these companies. Customers mindset is being controlled with the wind of change. Gone are the days when people used to feel proud when they used to carry a lot of cash. Now with NFC Tap and Pay Payments, people are less interested in having cards. They are switching over to wallets and QR codes. The solution which we are talking about is of QR Code and Wallets. How cool is that? If we don’t keep ourselves in sync with today’s trends, then we may miss the bus of growth in many cases. As a progressive merchant, I am sure you will not be interested in missing something game-changing like Crypto To Fiat Merchant Accounts.
- Retail Crypto To Fiat Payment Gateway. Tap and Pay Payments are going to dominate. People are less interested in becoming dependent on central banks, and they prefer to carry crypto assets. Retail Stores can easily integrate our solution with the help of QR code and API.
- E-invoicing Crypto To Fiat Payment Gateway. The solution can be easily integrated with merchants invoicing system. Merchants have to send only one link to the customers, and the payment can be made.
Application Process Of Crypto To Fiat Payment Gateway
It’s easy to get approved as the requirements are general. The applicant merchant needs to be registered in the supported jurisdiction of our provider. The provider offers solutions in EU/EEA/Thailand/Japan, Latam, Africa. Please feel free to contact us to check if your country is supported or not. You will have to send the KYC documents and if all goes well the account will be active within 2-3 business days.
About Our Crypto To Fiat Partner Processor.
The Provider is fully compliant with with MAS, Singapore’s Central Bank. Follows strict KYC and AML Compliance. Our Singapore Based Strategic Partner is already offering services in 60+ countries. They have processed over 20K plus transactions and have above 900+ merchants using the solution. In total, they have processed over 12 Million USD worth of transactions. Since our provider is SFA (Singapore) member, Merchants can rely on our partner for there crypto to fiat payment gateway requirements.
This solution is not available for India based merchants