E-commerce Transactions Made Easier with Cryptocurrency
A significant expansion of online markets all over the world, especially in emerging economies, has resulted from numerous improvements made in the telecommunications infrastructure. More and more businesses are taking their operations online, and HashCash Consultants have introduced white label bitcoin payment processors to cater to this consumer base.
As more people are getting access to broadband internet connections, e-commerce has set off a new wave of shopping spree. According to Statista, the retail e-commerce sales worldwide are expected to rise to 2774 billion in 2018, surpassing last year’s 2290 billion US dollars by 21%. The pull of global e-commerce is predicted to grow by a huge number in terms of business with no signs of slowing down.
Although the numbers indicate that consumers are willing to buy goods as they see it on screen rather than physically travelling to a shop or market, their confidence in online payment systems leave much to be desired. The propagation of cyber crimes and identity theft has caused hesitation when it comes to sharing one’s personal details on shopping websites. This contention becomes even more when the transaction involves purchasing items from a foreign land, mainly because of the added processes of paying in different fiat currency. Overall, lack of confidence in the payment system hampers the economy of the sector.
The bitcoin payment processor offered by HashCash aims to fortify the trust in online payment by giving consumers the option of paying with bitcoins. Blockchain and cryptocurrency in general have revolutionized the way money transactions are made online. The decentralized distributed ledger validates and records transactions using smart contracts, which are auto generated encrypted receipts. These are immutable and permanent, and therefore nullify any scope of fraud. Once a payment is made, there is no way for that money to just disappear without a trace and accountability.
The bitcoin processor will also solve the problems attending the conversion of fiat currencies, and sharing sensitive details online. Since bitcoin (and altcoins) is a universal virtual currency, its value does not fluctuate from country to country.
The end-to-end product offers ‘pay now’ buttons, as well as APIs to integrate to top shopping carts. Features such as bitcoin invoicing, merchant account management interface, payment dispute management, ticketing and everything a payment processor enhances its utility in the online retail world.
Globally, e-commerce domain is witnessing a robust growth. It is a popular choice for investments and new businesses, and this sets the stage for better integration of new technological innovation, and, of course, rising competition.
About HashCash Consultants
HashCash Consultants started as a Blockchain Consulting Company in California. Today, HashCash products enable enterprises to move assets and settle payments across borders in real-time using HashCash Blockchain network, HC NET. Financial Institutions use HC NET for Retail Remittances, Corporate Payments, Trade Finance, and Payment Processing. HashCash also runs the US based cryptocurrency exchange, PayBito and the leading Cryptocurrency payment processor, BillBitcoins. HashCash offers cryptocurrency exchange and payment processor white label solutions, comprehensive ICO services and customized use case design and development. HashCash propels advancement in the field of blockchain through the Blockchain1o1 program and its investment arm Satoshi Angels.