Democratizing Payments: A Marketplace Built on the Stellar Network

Whenever a vendor chooses to accept credit card payments on modern platforms such as Etsy and Shopify, there are a variety of complications that come with it.

Hefty fees for every transaction

For every transaction, credit card processors take fees. These can come in the form of fixed per-transaction fees, as well as percentage based fees or monthly fees. According to Square, average fees for each transaction can be between 2.87% — 4.35%. These fees are often higher for low volume businesses.

Processor approval limitations

Vendors may be denied based upon their credit, product types, or even location.

Wait times for funds

On most platforms, it takes a few business days for them to receive funds from each sale. What if the vendor needs the funds quickly to cover costs now? They are often out of luck or are forced to pay higher fees for quicker transfers.

What if there was a better way?

Cryptocurrencies allow us to bypass all of these roadblocks.

But, many cryptocurrencies are plagued by issues: slow transaction times, expensive fees, and confusing architecture.

The Stellar network is not held down by these issues, and has allowed for us to create Galactic Market: a new marketplace which allows creators to get paid for their work instantly and with tiny (fractions of cents) fees.

Come join our mission to democratize payments. Sign up to be the first to know when we launch at galacticmarket.io