How is TARUSH beneficial for merchants?
Whether someone is running an online business or a physical one, scalability is all they want. In order to keep the business growing, it is crucial to allow more and more customers to buy from you and that requires multiple payment methods. This is where cryptocurrency comes into play and offers unimaginable benefits for merchants and customers alike.
Let’s have a look at a couple of advantages below. It must be noted in the very beginning that most of the points mentioned in this article are mutually shared by all cryptocurrencies. The only distinction is that TARUSH makes the following “good points” even more robust by using latest and efficient technologies.
More publicity and plenty of customers
Crypto usage has started becoming a norm now and therefore, ventures accepting any token gain popularity instantly. This is because they are doing something new and offering extensive feasibility that more than half of the merchants are not providing at the moment.
As a result, you gain access to millions of International customers who would have to pay a hefty transaction fee while buying your product through a traditional payment processor. So if your prospect is in Africa and you happen to be in the US, it is only going to take a few seconds (at max) before your wallet is credited. It also implies that merchants do not have to wait for several hours (even days) for confirming that the buyer has actually transferred the required amount.
At the moment, a lot of people are concerned about Bitcoin’s volatility and hence, hesitate to use it as a payment method. The concern is rational, given that its price may vary from the time your buyer hits ‘checkout’ to releasing the tokens. However, TARUSH is against this manipulation and we aim to cut down this fluctuation as much as possible.
No chargebacks
This is something very important for the merchants. If you are offering any digital currency as a mode of payment in your business, you are always on the verge of receiving irrational justifications for giving a full refund on the basis of a defected product or service.
Suppose you run an antique’s shop and offer traditional payment methods. You know that the quality of the goods is premium and there is not any defected product. A customer living abroad places an order and buys the article. However, after a week or so, he feels like he doesn’t want it anymore and he just requests the payment processor to send back the money. This “middleman” company won’t even ask you in many cases and refund the amount to the buyer. So the point is, why should you suffer from someone else’s ill motives?
In simplest words, crypto does not allow chargebacks. Once the payment is sent, no one can take it back. It’s done!
Of course, as a trustworthy merchant, you should refund the amount wherever and whenever required. But it is indeed a major step in diminishing the fraudulent client activity, which often undermines the business.
Crypto is efficient
That’s true. Generally speaking, cryptos can process a significantly huge number of transactions in a matter of seconds and have a noticeable edge over traditional payment processors, which may take several days to transfer the money in an International transaction. In today’s World, where time has taken a “monetary” value as well, such delays cannot be afforded.
Talking about TARUSH, with the help of MimbleWimble protocol and Tron’s smart contract platform, it aims at entertaining about a hundred thousand transactions per second.
As a merchant, just imagine accepting 100,000 customers in the blink of an eye. Wouldn’t that seem like a daydream?
Reduced transaction fee
Customers are always concerned about paying that “extra” amount. To be honest, they are right. Why should anybody pay above the marked price? But since there are several “digital middlemen” in executing any online transaction, everyone has a different fee structure and one cannot avoid it in any fiat method.
However, crypto is quite unique from perspective. Since there is no other person or organization between you and your customer, the buyer only has to pay for the product. Not a single dime more than that. It is indeed a great measure to attract your prospects.
Your customers are treated like a boss!
When you offer someone a professional and bossy treatment, they are bound to be attracted towards your brand and as a merchant, that’s pretty much everything you want.
In traditional World, only the bosses of an organization enjoy privacy — everyone else is prone to data leaks, but the case is quite different with cryptocurrencies, like Bitcoin and TARUSH. While transferring these tokens, the details of your customers are never leaked and we value the privacy (of both, customer and merchant) more than anything else.
Half of the time, in traditional payment methods, buyers empty their carts after not feeling safe paying at your site. The reason could be anything — but you just lost a customer. In order to inculcate a feeling of security, you could even advertise that ‘your store now accepts cryptocurrencies and users do not have to feel worried about their personal data getting leaked’.
If you look at it from a different perspective, even you are relaxed since you are no longer required to store their credit card details on the server and be answerable in case of a cybersecurity event.
A word…
Please note that the benefits of crypto extend far beyond this short list and TARUSH does not only offer all these advantages but with the help of MimbleWimble protocol and a variety of other enhancements, our solution makes crypto secure, more scalable and efficient as well.
It is worth mentioning that since the MW blockchain allows fungibility as well, you could offer much more use case to your clients and allow them to “trade digital tokens” across multiple networks.
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