Today, cryptocurrencies have a market cap of nearly US$950 billion, which has been growing ever since the days when Bitcoin was considered a waste. Now, Bitcoin is a legacy to own, and so do the other prominent crypto coins. These tenders are used in Web3-based business transactions, fuelling and running the crypto ecosystem. Although crypto payment gateways play a vital role in processing payments, the domain was largely unnoticed as a business until recently, when non-fungible tokens (NFTs) saw their market value catapulting to exuberantly high values. This blog focuses on White label crypto payment gateway solutions and the advantages they offer for businesses.
White Label Crypto Payment Gateways – A Brief Introduction
White label crypto payment gateways are pre-made platforms that can process cryptocurrency payments for Web3 merchant businesses. These platforms are run for customer-facing ventures by business-to-business firms, and the latter is our focus point today. These platforms receive and send payments to crypto wallets while serving as mere facilitators to transfer funds using blockchain technology. If you wonder whether facilitating transactions would be relevant for a decentralized world, it might not. But, for a world transitioning from Web2 to Web3, such gateways are necessary, as many beginners are adopting cryptocurrencies, and it takes time to handle complex peer-to-peer transactions.
Why Should I Develop a Readily Available Crypto Payment Gateway?
- Facilitating crypto payments does not incur high expenses, contrary to supporting credit card payments.
- Your business can be free from holding sensitive user information, which is not required for crypto transactions as only digital wallets are involved.
- White label crypto payment gateways offer secured payment experiences to users as they use blockchains to process transactions. The history of transactions is tamper-proof, and they are visible publicly across the network.
- These platforms eliminate the problem of chargebacks, which have been normal with conventional digital payments. This proves beneficial to enterprises using your platform for processing their transactions.
- No third party (including the gateway owners) will be able to block your crypto wallet or transactions, which makes blockchain payments and gateway businesses trustable.
Salient Features of a Prefabricated Crypto Payment Gateway Portal
White label crypto payment gateways have two ends: user and admin. The below points indicate the must-have elements in a ready-to-launch crypto payment gateway on different ends.
- Sign up/Login
- User profile
- KYC/AML section
- User dashboard
- Portal for wallet connection
- Transaction history
- Customer support section
- Merchant tools
- Instant payment notifications (IPN) and history
- Application programming interface (API) key generation
- User account settings
- Admin login
- Admin dashboard
- User lists
- User transaction history lists
- Merchant information
- Merchant payment history
- Merchant API type
- Commission settings
- Security settings
- Content management system (CMS)
- Support system
Advantages Offered by White Label Crypto Payment Gateways
- Flawless transactions with efficient customer relationship management.
- Quick and secure transactions.
- Extremely low transaction fees.
- Faster uptime process without delays.
- Point of sales (POS) system support is offered by many devices.
- Withdrawal of money anytime is possible.
- Chargeback incidents are eliminated.
- Global payments can be made seamlessly.
- Blockchains secure payments and user information.
What Should I Do Now?
As a Web3 business enthusiast, you can approach a firm with outstanding White label crypto payment gateway solutions to build your new venture per your requirements. Customizing features lies with you, which can be a major advantage. Even with such a degree of freedom, you can launch the platform quickly at economical costs due to the minimal development involved in the process. So, why are you waiting? Advance now to earn a place in the increasingly-competitive crypto payment gateway market!