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These are exciting times for online merchants. Last year’s events pushed the global acceptance of ecommerce, indicating enormous possibilities for forward-thinking online enterprises.
Simultaneously, many merchants are hampered by out-of-date payment layers. As a result, rather of seizing the worldwide prospects presented to them, companies are concerned about the expense and disruption associated in modernizing their payment solutions.
The solution could come in the shape of payment plugins. They serve as a link between existing systems and processes, allowing merchants to reap the benefits of the most recent technology advancements.
Why would you want to add a cryptocurrency payment gateway plugin to your existing setup?
You may want to add one (or more) cryptocurrency payment plugins to your existing payment infrastructure for a variety of reasons. Adding a plugin, on the other hand, allows online retailers to benefit from the newest technological breakthroughs and install
an expanded payment orchestration layer without having to uproot what they already have in place. In other words, you can effortlessly integrate them into your system to gain access to a wide range of advanced payment technology while having no discernible
influence on operations.
So, what are the advantages of incorporating crypto payment plugins into your online business?
Increase the number of payment options available to you.
Did you know that if their preferred payment option is not available, nearly half of online buyers will quit the checkout? That’s a significant amount of lost revenue for any online retailer.
A payment plugin makes it simple to increase conversion by providing hundreds of alternative payment ways. Local eWallets, mobile payments, prepaid cards, cash vouchers, and so on are examples. Whatever country you choose to target next, you may utilize
your payment plugin to configure that country’s preferred payment methods, boosting the likelihood of a successful launch.
Utilize the most recent advancements in payment technologies to boost conversions.
With 69 percent of ecommerce users failing to check out after adding things to their cart, you must do all possible to convert potential customers. Payment plugins provide a set of capabilities to help you capture every conceivable payment.
Leading payment plugins, for example, use a smart routing engine to identify the acquirer most likely to approve a transaction based on hundreds of real-time characteristics. Similarly, the same methods can be used to cascade the transaction down through
acquirers to ensure that denials are converted into approvals.
Improve your fraud prevention tools.
Fraud is becoming a rising problem for online retailers, with cyber thieves getting more sophisticated in their attempts to steal money or items. The good news is that payment plugins enable you to use the most up-to-date anti-fraud tools.
Within milliseconds, these artificially intelligent algorithms examine hundreds of data points to determine if a payment is fraudulent or likely to result in a chargeback. The unnoticeable latency offers a frictionless shopping experience while lowering
the frequency of false positives.
Even better, these fraud rules are completely adjustable on the backend of your site without the need for any technical knowledge.
Set your compliance to autopilot mode.
Payments these days necessitate a slew of additional compliance considerations. For example, there are GDPR and PSD2 compliance requirements for payments processing within the EU. Don’t forget that these compliance standards are in addition to existing PCI
and 3DS2 duties.
All of these considerations, however, are addressed by a payment plugin. They are updated and maintained on a regular basis by the payment professionals who designed the plugin, allowing you to focus on your primary business activities.
Take use of the most recent payment features without any technical skills.
Adding payment methods, updating fraud rules, and keeping plugins up to date can all appear to be technically difficult tasks. Plugins, on the other hand, provide a user-friendly and easy solution that you can rapidly use without having to add unique coding
to your site.
Most cryptocurrency payment gateway plugin providers include 24/7 customer support, ongoing upgrades, and a steady supply of new features that you may add or delete at your leisure. There will be no more restless hours wondering if changing your checkout
would break your site. Instead, you can rest easy, knowing that the technological infrastructure supporting your payments is being handled by experts.
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