Cryptocurrency is trying to get into the mainstream and the Ziftr cryptocurrency/credit card payment platform may be the answer. The Company notes for each credit card purchase, up to 3% of the total transaction value goes to swipe fees alone, while cryptocurrency fees are typically under 1%.
The New Hampshire-based e-commerce company says merchants of all sizes can overcome common transaction problems by accepting cryptocurrency.
These problems, which are often associated with credit card transactions, include:
1. High credit card fees and chargebacks
2. Information security
3. High shopping cart abandonment rates
4. Inaccessibility to large portions of the world
A new Ziftr white paper says shoppers abandoned approximately 74% of online shopping carts in 2013, and studies have shown that fears about information security factor into this high number. Cryptocurrency transactions don’t contain customers’ sensitive information, providing a more secure shopping experience. Also, basic financial services are inaccessible to 74% of the world’s population, but cryptocurrency is a universal currency that’s expanding in many of these countries.
ziftrPAY is the simplest way for merchants to accept credit card and multiple cryptocurrencies. But it’s more than just a payment platform. It’s also a customer loyalty program. ziftrPAY merchants receive ziftrCOIN digital coupons that they can give to their customers to provide a discount shopping incentive that also familiarizes them with cryptocurrency, a low-risk, low-fee payment method.
Ziftr has developed the following tools and applications: ziftrCOIN, a digital coin that functions like a coupon; ziftrPAY, a one-stop cryptocurrency/credit card payment platform and customer loyalty program; ziftrWALLET, a multicoin digital wallet; and ziftrSHOP, a worldwide online marketplace where consumers will be able to conduct transactions using credit cards and cryptocurrency.
To read the full Ziftr white paper, click here: http://bit.ly/Merchant-WP
For data, background and forecasts on Cryptocurrency: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).