EverusPay: Accepting Payments in Crypto

EverusPay: Accepting Payments in Crypto

A variety of payment solutions are available on the EverusPay Platform which caters to the requirements of different types of businesses, ranging from single payments, recurring payments, affiliate payments, and batch payments.

Let’s take a look at how the EverusPay Single Payment Solution can enhance the growth and cash flow of online merchants in the example below.

USE CASE: ONLINE RETAILER

Idealhomes is an online retailer based in United Kingdom that sells furniture through its online store to customers across the country. As with many online retailers, the biggest challenges are the rapid growth in competitors as well as the discounted prices offered from competitors both locally and overseas. Idealhomes is constantly looking for ways to compete and differentiate from other e-commerce websites in their product category and industry while staying firm on prices.

EverusPay Solution

The “Single Payment” solution offered by EverusPay Payment gateway provides Idealhomes with the ability to accept payments from website customers using cryptocurrency. By opening up to accept cryptocurrency as payment for its products, Idealhomes has differentiated itself from its competitors and has become unique in the market with the ability to target a new market audience of customers who prefer to purchase online using cryptocurrency.

EverusPay Single Payment Process

EverusPay Benefits

Expand to a new market audience – Idealhomes is able to expand to a wider market by attracting customers who prefer to pay with cryptocurrencies. They are basically creating a platform to attract the new community to connect with each other, bringing the business to a completely different market.

Fast payment processing – With EverusPay payment gateway, the retailer can receive his funds in less than 24 hours compared to credit card payment systems which often take an average of 7 days and in some cases weeks to process. This saves time and makes the process of receiving payments convenient.

Improve business cash flow – The biggest advantage for them is the ability to take control of their business cash flow. This is solving their cash flow issue which is often the biggest killer in business. Paying suppliers quickly can improve profits on their business too, as it improves the suppliers’ cash flow. The suppliers may give discounts for prompt payment and more willing to negotiate for a better term.

Low transaction fees – More than just normal credit card processing, transaction costs of payments via cryptocurrency are much lower than credit card payments. All transactions are verified on blockchain, eliminating the need for third parties to manually verify each transaction. This fastens the process without being charged by different parties for the service. As the fees are saved up from the third parties, the retailer can counterbalance and offer some discounts to the customers.

No Chargebacks and identity theft – EverusPay payment gateway ensure all transaction data is secure and all payments received are authorized. Once the transaction is confirmed, it cannot be reversed and counterfeited. The retailer is free from cases of chargebacks, identity theft, and fraud, and able to receive funds from all over the world. No risk of chargebacks indicates that the retailer wouldn’t get fined by the banks. These additional costs can be a huge cost cutter for their business.

 

It further improves the retailer’s business model by increasing customers reach and enhances sustainable competitive advantages. In addition, they are able to promote experiences by offering more attractive discount packages to their cryptocurrency customers without lowering prices and separate their business as the premium offer in the market.

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Businesses benefit from cryptocurrency

The adoption rate for cryptocurrency increased by almost double in 2018 with the number of new verified cryptocurrency users continuing to grow globally to date. Let’s take a look at how accepting cryptocurrency as a form of payment can enhance the growth and cash flow of your business.