Posted by admin on Oct 12, 2020

 

Payment Processing for Cryptocurrency Merchants

Merchant accounts for cryptocurrency firms provide a reliable and effective means for bitcoin and crypto exchanges, blockchain technologies, and initial coin offerings (ICOs) to accept seamless payments.

The accounts offer the ability to process payments from credit, debit cards and ACH from  Us and international customers. It is becoming increasingly important to offer your customers the ability to buy bitcoins and other cryptocurrencies from with payment method preferred by buyers.

Although bitcoin has become a popular default for describing online currencies, we understand that there are a variety of other cryptocurrencies available. For cryptocurrency exchange services, brokers, dealers and other businesses that transact virtual coins, merchant accounts for cryptocurrency offer proven payment processing solutions.

Why Consider a Merchant Account for Cryptocurrency

Making your comapny as easy as possible to do business is one of the easiest ways to grow revenue. Selling bitcoin and other cryptocurrencies online is a lot easier when customers are given the opportunity to choose the payment method that is best for them.

Cryptocurrency merchant accounts offer the ability to carry out seamless, fast transactions for buying bitcoin and other cryptocurrencies. For cryptocurrency brokers and dealers, offering flexible payment choices is therefore more and more important to retaining and growing your customer base. Not offering the easy payment options is a risky business. Given the popularity of card and ACH payments, not accepting them could risk your customers or potential customers going elsewhere to buy bitcoin. 

There are also other advantages to cryptocurrency merchant accounts. Accepting ACH payments as opposed to card payments saves an average of 50-80% on the processing fees of card transactions. Similarly, accepting debit card payments as well as credit card payments means lower risk of chargebacks. Because of this lower risk to receiving banks, debit card payments save cryptocurrency firms money on processing fees.

The Difference Between High Risk Payment Processors and Traditional Banks

Difference Between High Risk Payment Processors and Traditional Banks
Difference Between High Risk Payment Processors and Traditional Banks

Traditional banks consider cryptocurrency firms to be high risk. This is because of the relative infancy of the industry and a general lack of knowledge about the industry. The categorization is also based on the unpredictability of prices in trading bitcoin and other cryptocurrencies.

Because of this, traditional receiving banks find it difficult to understand, assess and monitor transactions of crypto merchants. As a result, instead of embracing the industry and its huge potential, many banks simply reject applications from cryptocurrency merchants.

High Risk Merchant Accounts for Cryptocurrency Firms

Payment Processing for Cryptocurrency Merchants
Payment Processing for Cryptocurrency Merchants

The accounts offer bitcoin and crypto firms a great range of benefits and competitive rates. Merchant accounts for cryptocurrency are provided through  acquiring banks that are friendly to the industry. This means the banks are open to transacting for crypto businesses since the banks are well aware of the nature of business.  And the risks as well as the opportunities the industry presents.

By using acquiring banks keen to process for crypto accounts, it is possible for crypto dealers to accept credit card and debit card payments, but also to accept bank transfers via ACH debits.  And ACH credits are available for payouts.

Transactions are seamless whether the customer is within the US or international. Cryptocurrency merchant accounts make it easy to accept both one-off and regular recurring payments from customers.

Business planning and cashflow are easy to manage, with real-time reporting available to track payments and credits. Customers are also instantly notified of payments through API-enabled notifications.

The accounts are also secured to the highest standards in order to reduce the risk of cybercrime and fraud. From a compliance perspective, full compliance is achieved in order to reduce financial risk and protection of customers’ reputations.

Find Out More

Find out more and apply online for our Cryptocurrency merchant accounts

Feel free to email info@PaynetSecure.net.  Or call 888-5-PAYNET today.