The crypto industry may have taken a back seat to its bedrock blockchain technology in terms of application and media coverage, but the use of cryptocurrencies continues unabated. Businesses and individuals alike are resorting to cryptocurrencies for making everyday transactions and the use of Peer-to-Peer trading venues is taking center stage for such operations. True to the original ideals of the blockchain industry, P2P transfers of cryptocurrencies are fully decentralized, transparent, and, most importantly – intermediary-free.
With the volume of transactions in cryptocurrencies growing across developing countries, Bitpapa – a leading P2P platform – is offering a unique and convenient instrument for fast-tracking the integration of cryptocurrency payment acceptance.
All in the Widget
As one of the leading P2P service providers in Africa and a rapidly growing enterprise, Bitpapa provides its clients with a simple and holistic solution, ideally suited for businesses willing to enter the crypto domain. Bitpapa offers a widget integration software package for any type of website that accepts payment from customers using any number of methods.
The workflow and client journey on a merchant resource using the Bitpapa solution adds to existing payment methods the option of paying via P2P transfer using one of the local popular banks in the host country. This approach gives customers the convenience of resorting to classic card payment and processing alongside cryptocurrencies when purchasing goods and services on merchant websites. From the seller’s standpoint, integration of the Bitpapa software suite allows them to tap into the audience of crypto users and thus expand client bases.
If the client selects P2P transfer to make the payment, they will be provided with the number of a bank card for transferring the sum of their order. In essence, the procedure is boiled down to a simple internal bank transfer from card to card, freeing clients from having to pay commission fees, and merchants from incurring acquiring charges. Such P2P transfers are usually carried out in under 30 seconds and clients receive payment confirmations that allow their orders to be processed.
Merchants using the Bitpapa software suite get access to a personal account containing their wallet with a display of cryptocurrency balances. The latter are reflected in the currency the merchant uses, allowing for instant conversion of customers’ cryptocurrencies into fiat. At present, the application supports Bitcoin, the USDT stablecoin, and Monero as means of payment. Merchants are then free to withdraw funds from their balances at will to any external digital wallet or bank account.
The Business Benefits
In addition to expanding client audiences to crypto users, businesses receive a host of other advantages when applying the Bitpapa service for their crypto acquiring needs.
The first and foremost of the benefits is the service’s competitive pricing and commission policy, which makes it considerably cheaper than traditional payment processing systems. Bitpapa charges a fixed fee for withdrawing payments, as opposed to a percentage that is withheld by traditional processing gateways.
Another notable advantage of using Bitpapa is complete independence from the traditional financial and banking system – a trait true of the blockchain industry’s core qualities and principles. Merchants often have a hard time negotiating terms with banks regarding commissions and have to cope with often long processing times. Transactions processed on Bitpapa are almost instantaneous and save merchants considerable time and effort as a result.
However, the most important advantage of the Bitpapa suite is its versatility, which includes over one hundred different payment methods. The integration of such a variety of payment gateways opens immense opportunities for merchants and gives their clients almost complete freedom to choose the way they wish to pay, ranging from bank cards to e-wallet services.
Peer-to-Peer Trade as a Must
The proliferation of blockchain technologies and the adoption of cryptocurrencies is going uphill around the world, especially in developing countries. Wise merchants will realize that tapping into such a tech-savvy audience of potential buyers by wooing them with the ability to pay using cryptocurrencies is a sound and profitable business move. With Bitpapa, the process of integrating such an option becomes hassle-free and convenient, while the benefits far outweigh the adage of sticking to traditional financial gateways.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.