A recent study by Statista, a statistical portal indicates the explosion of global e-commerce is just beginning. As a result, there is even more need for secure online payments processes. In this light, HashCash Consultants offers a Bitcoin payments processor for e-commerce businesses which guarantees safety and convenience.
According to a news release, the new feature will exploit the Bitcoin potential in ensuring secure transfer of money. In particular, the payments processor will heavily rely on the decentralised distributed ledger to validate payments.
Bitcoin payments processor for e-commerce businesses to cultivate trust
In particular, users will interact on a P2P basis which makes sure that there are not too many participants in a transaction. In a way, this also reduces the risk for fraud and confusion.
Peer-to-peer interactions exclude the need for intermediaries that might unnecessarily slow up the payments process. Further, involvement of fewer parties implies faster and cheaper payments. Interestingly, the fees incurred in a Bitcoin transaction are sometimes negligent compared to traditional processes.
Further, the Bitcoin payments processor will record transactions on smart contracts. These are fundamental components of a blockchain network which facilitates P2P transactions. Essentially, they store data in a highly encrypted and immutable form.
As the news release explains, the smart contracts exclude any scope of fraud. This is to say that once a payment process completes, ?there is no way for that money to just disappear without a trace and accountability.?
Dash Text facilitating transactions in Venezuela
Finance Magnates observes that the Bitcoin payments processor for e-commerce businesses is an important milestone. Further, payment in Bitcoin is now secure since the price of Bitcoin is a bit stable compared to previous years.
In addition, Bitcoin is more of a universal currency since its price does not change with country. Therefore, one can easily settle a cross-border transaction without extra charges.
Demonstrating the enormity of the cryptocurrency payment options, Dash Text introduced crypto payments in Venezuela via mobile phones. The service is very useful considering the country lacks a properly functioning national currency. Further, the Dash Text service enables Venezuelans abroad to send remittances to people at home almost instantly and cheaply.