Payment processors are an essential part of any business, big or small. For customers, they make the payment process smoother and quicker, and for businesses, this means less hesitation for purchasers, resulting in increased income.
However, in this current digital age, a new form of currency has emerged that has made rapid changes to the financial market- cryptocurrency. And businesses are starting to notice.
But just what is a crypto payment processor? In this article we will look at crypto payment processor Remuno, and will compare it to traditional payment processor platform WorldPay.
What Does WorldPay Bring To The Table
WorldPay is an internationally recognised payment processing solution company, designed to accommodate businesses of all sizes looking to scale and refine their business.
They do this by offering a variety of tools, from physical card readers for small businesses o integrating their Payment Gateway to handle larger, online payment traffic. This allows customers with almost any sort of payment card to make transactions for goods and services, both online and on the high street.
The huge range of accepted payment methods makes WorldPay particularly appealing for customers, and in turn translates to more sales for businesses, as they rarely have to turn customers away or waste their time.
With this freedom for customers, and multiple solutions for businesses, has allowed WorldPay to become synonymous with the practise. It makes the platform one that is routinely used by new and established businesses, and one that will likely continue to thrive, alteast for some time.
What Remuno Does Better
While WorldPay has found great success in processing fiat payments for companies of all sizes, there is a significant market that the platform is missing out on: cryptocurrency.
Crypto is an industry that has an estimated value of over $3 Trillion, with this number only set to rise as more tokens enter the market and more innovations advance the technology. As such, having a way to utilise cryptocurrency in a businesses model is becoming more and more crucial.
However, for businesses outside of finance and technology, how to incorporate crypto into their business model may not be obvious. This is what crypto payment processors are eliminating.
Remuno is one such crypto payment processor, taking the task of bringing crypto to the wider commerce market by introducing an API that businesses can integrate onto their website that allows for payment to be taken in crypto rather than fiat.
What sets Remuno apart from other crypto payment processors is its simple set up, which requires only three steps. This simplicity means that it can be easily integrated onto practically any website, even if the website owners have very little experience with cryptocurrency.
While this simplicity makes Remuno specifically a great crypto payment processor for expanding the usage of crypto in these commercial online spaces, using crypto as an alternative to fiat payments in and of itself also provides many advantages for businesses.
One of the biggest advantages that crypto payments bring to the table is reduced transaction fees.
It is fairly well known that one of the biggest killers of online transactions are the additional fees found at the end of the process. For credit card payments, these can come to roughly 2 -3 % of the transaction value, plus whatever additional taxes and fees are added on top.
With crypto however, transaction fees have the potential to be microscopic, costing only a fraction of a cent on blockchains like Solana (SOL). This means that, for customers debating if a payment is worthwhile, they are more likely to follow through with the process when done with crypto, as opposed to fiat.
Simply, this could be massive for businesses. And with Remuno giving customers access to 95% of all tokens at checkout, the possibilities it could bring to a business are endless.
Is Remuno the future of payment processors? Only time will tell.
Learn more about Remuno on their website.