The adoption of cryptocurrencies as a payment alternative has increased significantly in many merchants worldwide. This trend has experienced an increase because of the use of different payment processors in the market.
What are payment processors?
Payment processors are physical or digital tools through which traders and banks process monetary transactions. Through these tools, merchants receive the money after a transaction through a payment system (for example, credit or debit cards).
Payment processors known as POS (Point of Sale) have undergone updates to be more versatile and competitive, sometimes allowing the use of cryptocurrencies for commercial payments. However, one of the principal “obstacles” of some cryptocurrencies is their high volatility.
Tether USDT
As we saw in our previous article, USDT is a stablecoin created by Tether Company. Its purpose is to mobilize money safely, protecting it from the well-known “volatility” of the crypto market since it will always maintain the fixed value of the FIAT currency, whose relationship with that value will often be 1 to 1.
Advantages of having a payment processor for Tether USDT
Here are some benefits of having a payment processor for Tether USDT:
Fast and inexpensive transactions
Using a payment processor for Tether USDT allows you to make transactions and receive payments at cheaper rates, especially compared to other alternatives in the market, such as credit or debit cards. We highlight that Tether USDT transactions are usually faster than traditional transactions. Here, these payment processors facilitate instant payments, which is beneficial for the commercial efficiency of a business or company.
Instant notification
Through a payment processor for Tether USDT, they can achieve a “financial” operational channel that will show both the merchant and the consumer the status of the transaction that has just taken place. Within seconds, thanks to the use of a Tether USDT payment processor, both the buyer and the seller can receive a confirmation notice of the approval of their transaction.
Reduced risk of chargeback fraud
Most cryptocurrency transactions are irreversible, which reduces the risk of chargeback fraud (when a buyer requests a refund of the value of a credit card purchase). Using this payment processor makes it hard to reverse transactions, which provides greater security for business owners or merchants.
Stable value
With a 1-to-1 ratio, the Tether USDT cryptocurrency strives to maintain a stable value compared to other more volatile market cryptocurrencies such as Bitcoin or Ethereum, reducing trade exposure to potential volatility in the crypto environment.
Extra payment alternative
By having a payment processor for Tether USDT, customers can have an extra alternative to make their payments, which is a competitive advantage for the business or commerce since it will improve the user’s experience and comfort when making a purchase, which will cause more loyal and satisfied customers.
Crypto to FIAT Conversion
Having a payment processor for Tether USDT allows the merchant to receive payment for its products or services in this type of cryptocurrency. On the other hand, the company providing the payment processor can convert crypto to local currency (FIAT), receiving immediate liquidity in fiat currency to make payments from suppliers or other services that have not adopted this cryptocurrency as a payment method. In this way, the merchant can manage its assets within the same platform with greater fluidity and security.
Multi-platform and market expansion
Having a payment processor for Tether USDT lets the merchant not only have a standard POS (Point of Sale) but also have a payment processor that adapts to multiple platforms and applications for different operating systems since the company providing the payment processor service can offer a range of alternatives, for example, an application for mobile devices (iOS and Android) or a website, which allows the business or merchant to have great versatility, enabling it to conduct international transactions (without the geographical restrictions or access barriers associated with traditional currencies) and expand its operations to other countries or territories.
What do you think about this topic? Do you want to learn more about the payment processor service for Tether USDT?
If you are interested in Pilsenga’s products or services, you can visit our website and register on our platform by visiting the following link.
