Products used
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Payment Links
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Checkout Links
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Global
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Enterprise
50%
Reduced transaction time
65%
Saved on international transaction fees
Ready to get started?
Challenge
Openxcell works with hundreds of clients from over 190 countries. Processing global payments was a huge challenge as international transfers are quite expensive and can take weeks or even months to complete. Moreover, there’s always the risk of losing funds if they are frozen by any of the third parties involved in the transaction. This makes international money transfers extremely unreliable.
Solution
Openxcell needed a payment system that was secure, borderless, cost-effective, and reliable. Cryptocurrency was an obvious alternative to traditional payment systems. They turned to Speed for help. Our team helped them set up a Bitcoin payment gateway from the ground up. We equipped them with several useful features, from payment and checkout links to dynamic payment QRs. Now Openxcell can accept global payments at the speed of light without paying hefty transaction fees.
Result
Openxcell managed to save up to 65% of transaction fees on international transfers. With Speed, they can accept Bitcoins from anywhere in the world in real-time without paying hefty transaction fees. Let’s look at a few outcomes of embracing Speed as a primary payment method for overseas transactions:
1. Instant transfers:
Crypto can be transferred anywhere around the world almost immediately. This helped Openxcell to streamline its global transactions. They used Speed’s payment links to collect payments from their customers and automated their payouts to their Bitcoin wallet. Speed’s web application allowed them to verify all the payments in real time and gave them a bird’s eye view of all their transactions. It was a lot more time efficient than traditional bank transfers, which were hard to track and usually took days or even weeks.
2. Savings on transaction fees:
Traditional payment gateways charge heavily for international transactions. Their fees can erode up to 30% of your total payment. On the contrary, Speed only levies 1% transaction fees once your total transaction volume exceeds 0.5 BTC (≈ $30,000). Thus, Openxcell managed to save up to 65% on payment processing fees in just 30 days of using Speed.
3. Freedom from dictatorship:
Because Speed is a decentralized platform, Openxcell had unrestricted access to its funds. There were no third parties involved in their transactions, making them truly transparent and peer-to-peer. They no longer have to worry about their funds getting locked by payment processors or fraudulent chargebacks filed by customers. They had full control over their funds and freedom from dictatorship.
