What are Crypto Payments?
Products, services and subscription fees paid for with cryptocurrencies like Bitcoin, Ethereum and others, comprise what we refer to as cryptocurrency payments. Digital currency circulation has increased exponentially in recent years, amassing to $15.4 trillion dollars of global transaction volume in 2021 - 567% higher than the prior year’s volume. Any merchant who accepts crypto for products and services they sell, opens their marketplace to a broader audience.
Accepting crypto payments can be a unique-selling-point that helps distinguish your project or business from competitors. Pay It Now (PIN) enables your business to process cryptocurrency payments online. We support your business or ecommerce site with our layer 2 blockchain payment gateway, enabling you to start receiving payouts in BNB, of which can be exchanged for Bitcoin and other cryptocurrencies.
What issues currently exist within blockchain payment processing?
The first cryptocurrency payment processor, BitPay, enabled users to send and receive Bitcoin over a decade ago. Until then fiat, credit and debit card purchasing dominated global business and personal transactions. Since Bitcoin payment processing started years ago, there have been thousands of cryptocurrencies and payment processors that have come and gone. With such a great number of processors, there have been an equally great number of challenges and issues:
- High gas fees.
- Low dependability of the supporting blockchain.
- Unreasonable processor charges.
- Vulnerability of host network security.
- Slow transaction speeds.
- Long wait times to access funds.
- Complicated transaction processes.
We want to offer the most beneficial blockchain solutions possible to our clients. It is of personal importance for us to stay engaged in the development of utilities that allow business to benefit from blockchain architecture. Crypto payments processing is a field that can continually be advanced and built upon.
Is your business or ecommerce site accepting cryptocurrency yet?
Cryptocurrency’s total market cap surpassed $2 trillion dollars in 2021. With around 7,000 different cryptocurrencies in circulation other than Bitcoin, there are no signs of the cryptocurrency expansion slowing.
Major brands like Microsoft, PayPal and Amazon, have been accepting crypto payment methods for products and services for some time. More and more mainstream companies, brands, and even governments are beginning to incorporate crypto into their business models and balance sheets.
As we move further into the future, businesses will need to accept online payments in crypto for products and services in order to remain relevant. PIN empowers the retail merchant and ecommerce site owner to accept Bitcoin payments, and other digital currencies.
We help businesses and ecommerce merchants expand their available payment methods to include accepting crypto online for products or services. Our aim is to open your business borders to a greater customer base in your online marketplace or physical retail location.
If we sell online, is it worthwhile to support Bitcoin and other cryptocurrency payments?
Of all current payment methods, cryptocurrency is the fastest growing. Most times when cryptocurrency is mentioned, the first thought is buy, sell, trade. While that is true, digital currencies, data and other forms of digitized information are continuously sent and received on the blockchain - a gate, highway, or trustless public ledger. The PIN token is the native currency to the PIN ecosystem of utilities, built on the reliable, fast, secure Binance Smart Chain blockchain network.
As crypto continues to become one of the most popular payment methods, cryptocurrency transactions increase in turn. There is a growing need for every progressive business and retail merchant to integrate a cost-effective crypto payment platform in order to support future growth, by being able to accept crypto payments in the economy of the future.
What advantages do I/we receive with PIN crypto payments processing?
Pay It Now crypto payments processing expands your payment processing options to include digital currency as one of your accepted payment methods. Any time you give customers the ability to buy services and products with more flexible alternatives, it can reflect well for your business through measurables like reviews, referrals and retention. As the prevalence of crypto-only customers increases, Pay It Now helps merchants attract users who pay with crypto online in a variety of ways:
- Zero gas fees.
- Secured payment transmission.
- Built on a reliable blockchain.
- Fast transaction speed.
- Seamless integration with the entire PIN ecosystem.
- Keeps your business attractive and up to date.
Do I/we need to hold $PIN to get blockchain payment processing?
You do not need to be a $PIN holder in order to sign up to accept crypto payments with PIN.
Will my business or project be integrated with other PIN services?
Pay It Now not only helps your business accept crypto payments with blockchain payment processing, but as a member of the multi-layered PIN ecosystem, you gain access to all PIN services. On our roadmap, we disclose information about the PIN Network app which will ultimately fuse together the various, interconnecting parts of our ecosystem into a single online hub accessible from any web-connected device.
PIN Rewards are the perfect compliment to the PIN Payments blockchain payment gateway - a good fit for many retail and ecommerce merchants to begin accepting online payment in digital currencies. The blockchain payment gateway from PIN gives retail merchants and business owners the power to service cryptocurrency-paying customers, whilst still allowing for a margin to be made by the business on payments themselves. When synced with PIN Rewards, customers using PIN Payments get rewards sent automatically to their wallet after checking out.
For our clients who accept crypto payments, rewards in $PIN empowers them with an attractive offering that gives customers crypto - a new-found innovation in interoperable rewards.
As a result of this influx of users within the digital world, a greater attack surface is presented to hackers and bad actors. We created PIN Data to help companies and projects secure their sensitive documents and information, using blockchain storage. Details on the vast, interconnecting branches of the PIN ecosystem of utilities and services are discoverable in the pages of our whitepaper.
Is your business ready to accept crypto for payment?
PIN gives practical solutions for your business’ payment needs. Let us empower your business with blockchain payment processing. Making your services purchasable through the blockchain will provide a competitive edge vs your competitors, whilst attracting new-found audiences and users.
Blockchain technology and cryptocurrencies will continue to grow into the future. PIN will help ensure your business is positioned to take advantage by equipping you to cash out in BNB, exchangeable to Bitcoin and other cryptos - in exchange for your products and services.
To get more information regarding our PIN Payments solution, contact us today.