In all the conferences where we attend, companies that already receive credit card payments are interested in finding out more about crypto and how they can provide these types of payments for their merchants. However, we are seeing a trend. Companies are not interested just in Bitcoin, but all crypto.
Let’s not dive on an argument about Bitcoin Maximalists vs. the rest of the crypto community.
This is about business.
At RocketFuel, we offer access to over 160 coins including Bitcoin, Ethereum, Litecoin, DogeCoin, Avax, and many others. Clients are asking us about different coins, not just Bitcoin. Then, why would we restrain our business offer when we know that merchants are being asked by their shoppers if they can pay in “crypto,” not just in Bitcoin? It just makes sense to give shoppers more options, not just one single coin. In fact, while there are payment gateways that only carry Bitcoin, we do not believe these companies will survive because their offer will be limited to one and only coin.
Crypto payments are here to stay. It is inevitable. Even in a Bear Market, we are seeing an increase in crypto payments due to several reasons:
Merchants still have to pay between 3-8% in fees – per transaction – to credit card companies.
In high-risk payment industries, such as adult entertainment, companies have to pay up to 10% to credit card companies.
Many merchants are being asked by their shoppers if they take crypto payments.
With crypto payments, merchants do not have to worry about chargebacks, declines or fraud.
In high-risk payment industries, shoppers also want anonymity and privacy.
Now, imagine what crypto payments will look like in a Bull Market? We are indeed too early.