Merchant account in cryptocurrency
In the modern world, a one global economic system is gaining popularity, allowing entrepreneurs from different countries to do business not only in their own, but also in foreign markets, expanding their capabilities and attracting more and more customers.
Merchant account is a rational and convenient option for making payments using Internet channels. Basically, bank details are attached to the site, which allows buyers to pay for their goods quickly, and the merchant to receive income. Practice shows that using blockchain allows you to provide quick transfers with low commissions. This innovation was immediately appreciated not only by buyers, but also by partners of WELLCOINEX.
Advantages of using a merchant account
Opening a merchant account in our company, provides the client with a lot of advantages:
There is no need to conduct long negotiations between the bank and the company, which may slow down and dispute the payment.
Funds are transferred seven days a week, because it doesn’t depend on banks and payment structures.
Due to the low commission fee, you save significantly on transactions, while using the usual service of paying by bank cards with the installed blockchain technology.
People from any place on Earth can buy goods easily.
Currency control is reduced due to the security of the system.
All data is divided between the participants of blockchain, which minimizes the chances of a fraud.
Transaction of funds is performed exclusively through the merchant account and does not provide a refund, so for a dishonest buyer it will be difficult to take chargeback.
The WELLCOINEX team carefully approaches the cooperation and selection of merchants and the activation of their accounts, and does not cooperate with organizations that violate the law. After activating an account, our specialists carefully monitor the confidentiality and operation of the site in order to prevent frauds. Our company has all the information bases and technological capacity to automatically check all KYC clients registered in our system, so people with bad reputation are being banned from transactions.
Merchant account feature
Thanks to effective legal system all participants of the merchant: the bank, the company and the processing organization together form an effective partner complex, which requires certain software. Using the software, each operation is assigned a specific number that connects all transactions. At the same time, payment by merchant can occur in several ways:
- Without a bank card – when making a payment, the cardholder is not physically present, and the details are filled in on the form online. This type of transfer is considered risky, therefore, there is a fee.
- With a bank card – the payer himself presents a bank card. Using an imprint print or making payment through the terminal.
Regardless of the type of account, you need to understand that a merchant account is a financial instrument that operates directly through a banking institution, which is famous for its captious study of all its customers. Therefore, in addition to opening an account, the owner of a merchant one must provide documents about the structure and type of business activity, as well as go through a large number of registrations in order to confirm his or her reliability.
What problems do you get rid of and what do you get in return when opening an account with WELLCOINEX?
By creating a merchant account in our system, the client gets rid of a lot of problems, such as:
Long and complex integration.
Difficult withdrawal of funds from the merchant account.
Crashes when accepting payments.
High risk of a transaction return.
Blocking a merchant account by an acquirer for an indefinite period.
Slow feedback due to numerous intermediaries.
In the past, to connect a merchant account a person had to go through bureaucratic obstacles and get a positive response from banking institutions. However, the progress is moving forward and to replace fiat currency a blockchain-based cryptocurrency has come. Upgrade of online payment structure has improved the way it works, reducing the risk of information leakage. Reliable currencies that are available in Merchant system from WELLCOINEX are: BITCOIN, ETHEREUM, IOTA, DASH, BITCOIN CASH, LITECOIN, RIPPLE, EOC, WAVES, ZCASH, NEO
The main reason for opening an account in a cryptocurrency is the cost reduction due to lower commission fees, which helps to attract customers and gain their loyalty. The main advantage of our system is simple software integration, that allows to open the possibility on your site to receive payments in cryptocurrency a day after the appeal. At the same time, all our clients receive high-quality service, round-the-clock support and quick money transfer.