The cryptocurrency industry may have taken a back seat to its bedrock blockchainย tech in terms of appย and media coverage, but the use of digitalย currencies continuesย unabated. Enterprises and individuals similar are resorting to digitalย currencies 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 blockchainย tech industry, P2P transfers of digitalย currencies are fully decentralized, transparent, and, mostย itโsย worthย notingย that โ intermediary-free.
With the volume of transactions in digitalย currencies growing across developing countries, Bitpapa โ a leading P2P platform โ is offering a unique and convenient instrument for fast-tracking the integration of digitalย currency 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 enterprises willing to enter the cryptocurrency 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 trending banks in the host country. This approach gives customers the convenience of resorting to classic card payment and processing alongside digitalย currencies when purchasing goods and services on merchant websites. From the sellerโs standpoint, integration of the Bitpapa software suite allows them to tap into the audience of cryptocurrency 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, theย process is boiled down to a simple internal bank transfer from card to card, freeing clients from having to pay commission charges, 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 digitalย currency balances. The latter are reflected in the currency the merchant uses, allowing for instant conversion of customersโ digitalย currencies into fiat. Asย ofย now, the appย supports Bitcoin, the USDT cryptoย 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
The 1st and foremost of the advantages is the serviceโs 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 โ a trait true of the blockchainย tech industryโs 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.
Nonetheless, 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 enormous 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 technologiesย ofย ย blockchainย tech and the adoption of digitalย currencies is going uphill aroundย theย globe, especially in developing countries. Wise merchants will realize that tapping into such a tech-savvy audience of potential buyers by wooing them with theย potential to pay using digitalย currencies is a sound and profitable business move. With Bitpapa, theย procedure of integrating such an option becomes hassle-free and convenient, while the advantages far outweigh the adage of sticking to traditional financial gateways.
