UQUID EXPLORE: Crypto opportunities in e-commerce
• Low transaction costs
Usually, the fees when transacting with payment gateways on e-commerce are often quite high, or in some cases even increase the price of products for consumers. Online payment gateways such as VNPay, and Paypal usually charge a fee of 2-4% on the transaction value, while transactions with electronic money are usually free or very low fees of less than 1%. Imagine how much money an online business can save with annual revenue of $40,000.
• Expanding new customer files
Although the number is small, there are still consumers who do not like to use credit cards. Therefore, having another form of payment is also an opportunity to reach out to such customers. More specifically, with the momentum of blockchain development, businesses will have many advantages when soon supporting customer groups to use crypto.
• Reduce the risk of fraud, fraud
This is a bit of a technical issue, but the reason crypto is so well received by many people is because of the possibility of not being able to interfere with the system from any party. For example, nowadays, e-commerce payments with stolen credit cards often expose businesses to unnecessary chargeback fees. Therefore, having a payment solution that almost completely prevents security problems like crypto is an effective solution.