Retail Technology Innovation Hub: Grow Your Business By Accepting Crypto Payments

authorThe Banxe Team
time 5 min read date 17.04.2024
image delimiterNews

In the dynamic business landscape, staying ahead means adopting innovative payment solutions. Crypto payment gateways emerge as game-changers for retailers, offering a seamless way to embrace the burgeoning world of cryptocurrencies. With Bitcoin's value reaching unprecedented heights, accepting crypto payments is a strategic move to capture a global audience and drive sales.

Businesses constantly seek innovative solutions to bolster their conversion rates, sales, and revenue. This is where the joys of crypto processing come in, offering a cutting-edge payment option to businesses wanting to tap into a new clientele base on a global scale. Cryptocurrency processing offers low fees, swift processing, high security, and much more when making and receiving payments internationally.

The debut of Banxe’s Crypto Processing couldn’t come at a more opportune time for businesses seeking efficient and alternative payment methods. Banxe is a one-stop payment platform that offers businesses and individuals both traditional banking and cryptocurrency services. Its newest addition to its product suite, Crypto Processing, enables merchants to accept cryptocurrency payments for goods and services.

Why embrace crypto payments for your retail business?

Banxe's Crypto Processing facilitates transactions in over 350 cryptocurrencies yet allows you to receive funds in familiar currencies like GBP, EUR, and USD. This versatility is crucial for retailers looking to attract a diverse international customer base without the complexity of managing multiple currencies.

Banxe stands out by charging minimal transaction fees of 0.2% and offering competitive crypto-to-fiat conversion rates starting at 0.75%. This cost efficiency is a significant advantage over traditional banking fees, which can range from 1.5% to 3% per transaction.

A recently onboarded client, an e-commerce platform specialising in rare collectibles embraced Banxe's Crypto Processing to accommodate the diverse payment preferences of its global customer base. By accepting cryptocurrencies, they tapped into a niche market of collectors eager to use digital currencies for secure, fast transactions. This strategy significantly widened their market reach, resulting in a surge of international orders. The platform's ability to convert cryptocurrencies to fiat effortlessly ensured smooth operational flow, enhancing customer satisfaction and solidifying its position as a forward-thinking leader in the collectibles market.

What else can Banxe offer?

The platform offers a complete suite of products, including a multi-currency (GBP, EUR, USD) payment account with a dedicated IBAN, simplifying the transaction process and ensuring an efficient, personalised, and safer banking process. The corporate crypto wallet offers paying, sending, receiving, exchanging, and managing. The platform continuously evolves, introducing features like Mass Payment for bulk transactions, Xero integration for streamlined accounting, and Roles for enhanced control over business spending. These developments reflect Banxe's commitment to addressing the diverse needs of its business clients.

Once users have a Banxe account, they can easily top up their accounts with several options, including SEPA, SWIFT, CHAPS, and Credit / Debit Card. Notably, Banxe offers its own Mastercard debit card, which powers similarly to a traditional debit card with the bonus of being able to top up with crypto to enhance its practicality and utility for users.

Security is paramount at Banxe, where rigorous identity verification and two-factor authentication protect against fraud, ensuring that your business and customer data remain secure.

For European retailers, Banxe's Crypto Processing is not just a payment solution but a strategic tool for global expansion, providing a cost-effective, secure, and versatile platform to cater to the evolving preferences of a worldwide customer base.

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