Why you should accept crypto payments on your ecommerce business
Ecommerce is booming. The reasons are myriad, but we know one thing for sure: the pandemic supercharged the process. It’s not hard to see why. Most nations across the world enacted some form or other of lockdown and restrictions that kept people indoors more time than they were used to, and conditioned access to brick-and-mortar establishments.
Ecommerce seemed perfectly suited to address this situation, and that’s exactly what happened. Small and large businesses alike amplified their ecommerce capabilities sooner or to a larger degree than they expected, and we all saw the results of this.
The issue is whether these results will continue into a post-pandemic future. Will we revert back to what existed before? Everything indicates we won’t. Ecommerce is here to stay, and the effects we saw during the pandemic likely only accelerated a process that was happening either way.
So how do merchants make sure that they remain relevant and competitive in a market that is much more globalized than what came before?
Find new audiences
In ecommerce, you are no longer selling to whoever has access to your physical store. You need to assume everyone does. That means finding whoever wants your product, and maybe you’ll find that these aren’t the people you were catering to before.
Crypto is an easy answer to this. Crypto users are relatively wealthy, young, and tech-savvy. These are all demographic traits an ecommerce business should cherish. Not only so, this is a massively growing market.
The number of crypto owners has more than doubled in the last year alone, surpassing a total market cap of 2 Trillion USD. This rate of adoption suggests that crypto is growing about as fast as the Internet did at the same stage. These people are desperate for stores that will allow them to use their wealth without going to the trouble (and expense) of converting it into fiat.
These are 300 million people that most brands aren’t catering to yet.
Yet.
Don’t waste time
The same NBC article we quoted before tells us that more than a third of millennial millionaires have 50% of their wealth in crypto. These are not people that stand around and wait for brands to cater to them.
These are people that force change.
Some of the largest brand in the world are already moving into crypto:
This process will not stop, and will likely gather speed in the very near future. Don’t believe us? Just turn on your TV. There were a number of crypto ads during the Super Bowl, and people were so fascinated by this technology going mainstream that they were one of the most talked-about elements of one of the world’s largest sporting events.
Take advantage of all the perks
There is a reason why everyone is interested in crypto payments, and that reason is simple: it is the better option.
At the moment, traditional payment gateways are making money off of you, not with you. Here are some of the reasons why you should be using Utrust:
- Foolproof security for you: No chargebacks. No intermediary (not even us, as a payment gateway) can mess with what you do with your own money. Transactions are immutable and saved in a public ledger.
- Foolproof security for your customers: No one ever needs to share their personal information online. No more credit card numbers or banking details just floating around for people to steal.
- No border fees, no hidden fees: Ever. We charge a 1% flat fee, period. No exceptions. The Internet is borderless. It costs us exactly the same to process a payment from South Africa or Europe. Why would we make up charges?
- No volatility: This is something that may scare people. This is a new market, it hasn’t stabilized yet, sometimes it does unexpected things. Merchants that use Utrust needn’t worry at all. If you want to fully embrace crypto, we are happy to offer crypto settlements. If you’d rather settle in fiat, you can do that too. No crypto accounting if you don’t want it. Get paid in fiat in your bank account, as per usual.
- Go truly global: We are borderless, and your payments and invoices can be too. And guess what? No added delays, or issues of any kind. Get paid in whichever way you prefer and make no distinctions between any of your customers or partners.
- Wallet agnostic: Your customers can pay with their preferred wallet, whatever it is. The great thing about building a brand new ecosystem is that you get to make the rules, and we have decided to serve as well as we possibly could.
- Webstore integration or invoicing, it’s up to you: Utrust does both. We work with all major ecommerce integrations, and we also have an invoicing solution that you can use.
Enjoy the simplicity of it
Some people are reluctant to embrace crypto payments because they don’t want the added hassle of learning about a new payment method.
We have fixed that.
Utrust has turned the experience of accepting crypto payments (and making them!) into an extremely simple and accessible thing. Whether you are using an ecommerce integration or our invoicing solution, payments will be delivered to your bank account in fiat as usual, or to your wallet in crypto (your call!) with no added steps required from you in either case.
Here’s what it looks like to your customers:
Don’t get left behind
Are you ready to embrace the future?
A number of companies, that range from the largest sports clubs in Europe to teeny tiny businesses everywhere are already enjoying Utrust’s service.
Companies accepting crypto have reported an average ROI of 327%, and we have a retention rate over 12 months of over 99%.
It’s time.
