Enabling globally accessible online cryptocurrency payments that can be made in a secure and cost-effective manner
A cryptocurrency payment gateway that allows businesses and individuals to accept crypto payments securely and cost-effectively across the globe. This protocol utilizes blockchain technology to ensure secure and reliable transactions, leveraging smart contracts to enable fast and seamless payments without intermediaries. The payment gateway supports a wide range of cryptocurrencies, making it easy for customers to pay in their preferred currency. Additionally, the gateway offers various tools for merchants to manage payments, such as invoicing, recurring payments, and reporting. With just a few clicks, payments can be processed from any device, making the platform convenient and accessible to every blockchain user.
Existing problems with crypto payments
1. High transaction fees
Transactions in cryptocurrencies can incur high fees, especially when the network is heavily congested. This can make small transactions uneconomical and discourage merchants from accepting cryptocurrency payments.
2. Compatibility issues with various platforms
Compatibility issues with certain CMS or ecommerce platforms can be a significant problem for businesses looking to integrate a payment solution. If a payment processing gateway is not compatible with a particular platform, it can lead to technical difficulties and errors, resulting in lost sales and a poor customer experience.
3. Not mobile-friendly
Mobile optimization is highly important for businesses to reach a wider customer base.A lack of optimization can result in a poor user experience, making it difficult for customers to navigate the payment process, and potentially leading to abandoned transactions.
4. Security risk
The decentralized nature of cryptocurrencies can leave businesses vulnerable to security risks such as hacking and fraud. Using cryptocurrencies can also be complicated, especially for those who are new to technology which may result in mistakes and errors as well as in loss of funds.
5. Refund fraud and Protects merchants
Since cryptocurrency transactions are irreversible, merchants are at risk of losing funds to refund fraud if they don't have adequate protection measures in place.
How the Defiway Pay operates
Defiway Pay solves the concerns above through the following key features
1. Reduced transaction cost
For a cryptocurrency transaction, the fee is typically about 0%, as compared to credit card or debit card fees which are typically 2-3%.
2. Simplified web integration
Defiway built a custom plugin that can be added to your website in a few clicks and is compilable with every CMS or ecommerce platform you use
3. Optimized for mobile devices
By utilizing our SDK for iOS and Android, businesses can easily integrate a smooth checkout process within their own mobile applications.
4. Fraud protection or no KYC
This payment method does not require customers to disclose any sensitive payment information, unlike when they use credit or debit cards.
5. No chargebacks
Using a payment processing gateway for cryptocurrency helps prevent refund fraud and protects merchants, thereby preserving the business reputation.
Supported Wallets & Networks
Defiway Pay Protocol supports
Defiway's pay is built on the blockchain and leverages smart contracts to execute transactions in a secure and decentralized manner.
To find out more detailed steps on how to use the Pay protocol, visit this page