With global economic growth on the rise, many startups and well-established businesses are coping with the new-age currency, Bitcoin. It is more advanced than conventional payment methods; therefore, every business in need can make their strategies and accelerate the growth of their business. Bitcoin payment processors make the use of this currency very convenient for every scale of industry. It is a service that allows you to pay or accept Bitcoin payments; with this, you can accept commodity and service payments or donate to a better cause.
Bitcoin payment processors may charge a certain transaction fee, but that too is decided by the merchants, and hence, all the payments are business-centric. In this article, learn how a Bitcoin payment processor like Speed can enhance business growth.
Traditional payment methods are now lagging in providing the features and advancement this new-age technology offers. As a result of that, people are moving towards better options like Bitcoin. In one way or another, the Speed Bitcoin payment processor allows us to put a foot forward in the fintech market. Let’s glance over the features Speed provides that help your business grow.
A business’s main benefit is reducing the cost associated with its payment processing methods. When a business accepts payment through credit cards, they are liable to pay a fee for every transaction. This processing fee may vary depending on the service providers; on average, it is around 1.5 to 3% of the transferred amount. With the Speed Bitcoin payment processor, there are no such charges; this saves businesses a significant amount of money.
This will add to their profits; businesses can also enhance their overall investment portfolio. Such savings also help them to include more products for international customers as they feel free from overhead charges.
Another reason through which Bitcoin payment processor like Speed helps in the growth of business is being fast as well as efficient. Transactions made through a traditional method may take days or weeks to get processed. This is because many intermediaries are involved in it, and the funds get verified each time before reaching the merchants. With a Bitcoin payment processor like Speed, the funds get transferred in real time; businesses can provide their services as fast as they receive the payments.
Speed allows users to make payments instantly or in a few seconds. This is possible due to its operability over the lightning network. With LN protocol, merchants receive their funds on time, without further delay in consumer services. Being an additional layer on the blockchain, it is pretty efficient, too. From small to large, Speed supports all kinds of transactional volume and settles them on time.
Bitcoin opens a new market of opportunities for businesses; you can accept payments globally and reach out to users who want to be free from traditional banking services. Unlocking a new customer base brings out a lot of new scope in the market. Not only does it enhance international trade, but it is also a great competitor for conventional service providers.
With the variety of options both merchants and customers get through a Bitcoin payment provider, they can expand their business worldwide by both online and offline means. Bitcoin allows you to reach every possible commercial sector, from the domestic to the international market. From a small scale to a big business, everyone can unleash the potential of Bitcoin through payment processors and can see significant growth.
Flexibility is another good thing with Speed Bitcoin payment processor. Users can send payments in any currency, and the platform automatically calculates it in BTC. Speed provides the best-suited payment method as per the functioning of your organization. From a store owner who does not operate on a digital platform to an e-commerce merchant, Speed caters to all the business solutions to keep you moving forward.
Users can customize these payment methods as per their branding; this flexible approach plays an essential role in the growth of the business. All the transactions get settled in the wallet; here, you can attach your preferred wallet for receiving payments. Speed also provides it’s in-house wallet to send and receive Bitcoin.
This feature of Speed allows you to collect post payments. Merchants can create a detailed invoice where they can include all the details regarding products and services. They can insert the value to be received and send it to the customers’ mail IDs. There is another option through which one can set the due date for payment. With the help of invoicing, merchants can remind the customers, and it is a smart move to grow your business.
Speed’s invoicing provides its services to businesses at every scale. For small businesses, there is no cost, no subscription, or fee for invoicing. Professional invoicing service by Speed is the cost-effective way to send and receive Bitcoin, or an individual can integrate invoicing in their existing setup without any additional development as a SaaS software.
All of the features that enormously help businesses to grow are associated with the solutions they are using. Speed is a one-stop solution for all business needs, from online to a general store; everyone can accept Bitcoins with the help of these methods. Let’s take a glimpse at solutions that help in the growth of your business.
Accepting multiple Bitcoin payments is possible through the . It is easy to create with a Speed web app, or you can integrate it with the use of APIs. Merchants can add payment links to their websites; in case they don’t operate on a website, they can send the links separately through the social media platform to individuals. With , merchants can reach global clients.
These merchants can introduce their products directly to the market and accept payments by sending payment links directly. Merchants and customers can integrate their wallet app with these links. Allowing them to send and receive currencies from their preferred wallet instantly. You can collect multiple payments through a single link, and merchants possess the right to revoke such links whenever they want.
Customers can flexibly send the payment via on-chain or lightning network. Accounting for the payments is also manageable through the mobile and web browsing dashboard. With this kind of transparency, merchants can calculate their profit rates and make required product changes for further growth.
When it comes to accepting Bitcoin payments, offline stores are a little involved. The reason can be a lack of resources or expensive POS systems. Regarding digital payments, QR codes came as a revolution in the market. With the introduction of Bitcoin, store merchants are looking for ways to accept crypto. Speed offers them the solution of One QR as an additional payment method.
Getting a One QR from Speed is relatively easy; select the wallet type you want that can be on-chain or lightning. The QR is generated after that, including your store name and a description. Merchants can print that QR code and display it near their checkout counters for easy access to their customers.
This scan-and-pay solution attracts new customers as their offline checkout experience becomes more accessible. Merchants can enhance trust and transparency by setting up a success message for their customers once they make the payment. One QR allows on-time payments and keeps you secure from chargebacks, too.
Months of integration and customization are required to enable a new payment method in your new and existing applications. The Speed platform APIs withstand all types of businesses, whether an online retail store, marketplace, e-commerce, B2B, or B2C. These APIs are robust and save a lot of the time that is going to be invested in development.
The source-oriented URLs result in an impactful infrastructure for all payments. Whether you want to provide a checkout page or a payment link, all the features of APIs are in test and live mode for confirming the success of integration. The API keys always authenticate payment requests; hence, you can experiment with a stimulating payment without dealing with a live Bitcoin node.
APIs save your efforts, and in a small fragment of time, your application or site is ready to be a part of the market. The available infrastructure allows you to send and receive payments for your business without delaying the development of your product. Get an integrated checkout page or payment page through these APIs and make your on-chain or lightning payment seamless.
Accepting Bitcoin payments on your e-commerce store can help your business provide an engaging shopping experience to your local as well as international customers. With , you can utilize the potential of Bitcoins for your business. Once the plugin is installed on your website, it automatically adds an extra option for payment for your customers.
After integrating the Speed plugin into your e-commerce store, customers can choose the Speed Bitcoin payment option. Once the order is placed, they get redirected to the Speed payment page, where they can complete the payment in Bitcoin. All of your customer’s data is secured, and in case of any challenge with the payment, you can reach out to the support team.
Speed’s plugins are free, open-source, and highly scalable and offer a lifetime of free updates to ensure compatibility with the latest trends in the e-commerce market. Its advanced features, like automatic conversion to Bitcoin with real-time exchange rates and test mode to understand the configuration of the plugin, make it one of a kind.
Many offline merchants who own a POS system are supposed to pay recurring infrastructure expenses and go through heavy deployments. This not only affects their growth but also hinders the update in services. for these problems that merchants face, with Speed making your phone a Bitcoin point of sale.
With mPos generating a QR code by entering the transaction value, multiple items can be included in a single transfer. Check all the details of products and their respective amounts, then generate the QR. Display this to the customer; they can scan it and pay you in real-time.
There is no need to put any heavy device for these transactions, with Speed mPOS start accepting Bitcoins with zero investment over additional hardware. All the data is accessible to the merchants; this makes your checkout procedure cost-effective and saves a lot of time and funds for a business. From home delivery to a professional service, the mPOS application benefits all.
The leading Bitcoin payment processor, Speed, offers a much-required set of business solutions that helps merchants worldwide boost their growth. Institutions are looking for methods that keep them safe and, at the same time, provide fast and efficient services to their customers. Speed has considered this need of businesses, whether online or offline, and has provided a simple yet advanced platform where everyone finds the answer to their payment needs.
Speed offers these solutions and makes businesses realize their new-age need for payment methods to boost their growth. This Bitcoin payment processor helps them to be out of their comfort zone and make an impact on the global market by reaching their highest potential.
The Bitcoin payment processor is a set of solutions that manage the Bitcoin transactions of both businesses and individuals. They can send and receive Bitcoin using this service.
A crypto payment gateway supports multiple digital currencies, while a Bitcoin payment gateway only supports transactions in BTC and other fiat currencies.
Some platforms ask for KYC before their operations, but not all Bitcoin payment processors ask for KYC from their users.
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