What is Auto-Conversion and Why is it Important?
Find out more about the auto-conversion feature at KUNA Pay, including why you should consider activating the feature, when you read below.
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Crypto: for more and more people, it’s becoming a mainstream way to pay for goods online. This means that an increasing number of e-commerce stores are now starting to accept crypto payments. But there are also huge numbers of e-commerce stores yet to start accepting payments of this type.
Why should all e-commerce companies start giving serious consideration to accepting crypto payments? You can read about five reasons below.
Increase Your Customer Base
According to Statista, around 425 million people worldwide now use cryptocurrency. By accepting crypto payments, an e-commerce store can tap into this pool of crypto users – a pool that is only going to grow as more and more people start using crypto. And this is a pool you shouldn’t ignore, as those with crypto are generally wealthier than other consumers.
Differentiate Yourself from the Competition
Crypto is becoming more popular, but most e-commerce sites still don’t accept crypto payments. So, when an e-commerce site starts to allow crypto payments, they really differentiate themselves from the competition. Offering crypto can be the USP that helps your business stand out in a crowded marketplace.
Eliminate Chargebacks
Fraudulent chargebacks are a very real problem for e-commerce businesses. They lead to significant revenue loss for many e-commerce companies and eliminating them is a priority. With crypto payments, chargebacks are impossible, as crypto transactions can’t be reversed. So, with crypto, when you receive a payment, you can be sure it’s yours and that it won’t be taken back.
Reduce Payment Processing Costs
Payment processing costs are a significant expenditure for many e-commerce businesses. Credit cards, which are the most popular payment method, charge fees of up to 3.5% for each payment. But you’ll pay a fraction of this in payment processing costs when you’re paid using cryptocurrency. The result? More money going into your business.
Increase Security
Cryptocurrency offers exceptional security, thanks to the fact it’s based on blockchain technology. Transactions are near impossible to hack, which is a huge selling point to those reluctant to make online purchases over fraud concerns. By offering crypto payments, you’re offering an option customers can trust completely.
Integrating Crypto Payments with Your Website
KUNA Pay offers one of the most attractive crypto payment platforms around, and it’s exceptionally easy to integrate KUNA Pay with your website. We’ve developed plug-ins for many popular e-commerce platforms, including Shopify, Magento, and WooCommerce, so even the least technically minded business owners can begin accepting crypto payments quickly.
By integrating the KUNA Pay platform with your e-commerce store, you’ll be able to accept a large range of cryptocurrencies, including Bitcoin, Ethereum, Tether, Litecoin, Dogecoin, and more. The integration option you choose will determine the exact cryptos you will be able to accept.
If you’d like to learn more about integrating the KUNA Pay platform with your e-commerce store, please check out this page. And if you need any help with any aspect of the setup, we’re on hand to talk you through it in language you’ll understand.
