In recent times, there has been a massive surge in the volume of cryptocurrency transactions across the globe. A large number of merchants and service providers are incorporating white label crypto payment gateways to evoke the attention of crypto enthusiasts.
What is a White-Label Crypto Payment Gateway?
A White-Label Crypto Payment Gateway is like a fully customizable, ready-made, and adaptable solution that allows you to start accepting cryptocurrencies payment without building a payment gateway from scratch, and even make customizations such as using your own branding. Think of it as a fully-furnished and ready-to-move in house where you can still select the furniture, decorations, and paint colours.
A White-Label Crypto Payment Gateway offers a unique and out-of-the-box plug-and-play platform that allows you to start accepting payments in Ethereum, stablecoins, Bitcoin, and other cryptocurrencies quickly and easily.
Benefits Of White-Label Crypto Payment Gateway Solutions
A White Label Crypto Payment Gateway provides a wide range of advantages, including but not limited to:
Streamlined Adoption
One of the biggest challenges that inhibit smooth and widespread adoption of cryptocurrencies is the level of difficulty faced by traditional businesses face in accepting digital currencies as a form of payment from blockchain wallet users. This is simply because most accounting software doesn't recognize or support cryptocurrencies, exchanges are characterized by highly complex & sophisticated onboarding procedures, and payment processors require extensive and complex technical integrations.
Not anymore! White Label Crypto Payment Gateway solutions from ITIO Innovex can help you accept crypto payments as a business.
User-friendly & seamless payment experiences
The concept of cryptocurrencies may have been in existence for years now, but there is still some hesitancy among users. Scanning QR codes, copying wallet addresses, and keeping a close track of private keys tend to create friction and hassles for some users. Moreover, the absence of proper custodial storage means that crypto assets can be lost forever in case private keys get misplaced or lost. White label payment gateway solutions from ITIO Innovex through custodial wallets largely reduce or eliminate the risk of losing access to funds.
Built-in regulatory compliance
Today, the legal status of cryptocurrencies has been evolving at a swift place globally. For instance, crypto regulations in the context of anti-money laundering, know-your-customer (KYC), and taxation are evolving with every passing day. White label payment gateway solutions from ITIO Innovex are designed to comply with stringent financial regulations, including tax compliance.
Anonymity and in-built security
In the last few years, many have raised concerns around loss of assets, anonymity, compliance with regulations, and price volatility in the context of decentralized cryptocurrencies. Thankfully, white label payment gateway solutions by redefining anonymity and IT security through a series of tools such as two-factor authentication, tokenization, 3D secure, multi-signature authorization, and insurance against hacks and thefts. Furthermore, the identities of merchants can be masked and payments may be routed via dummy addresses to ensure anonymity. Also, Know-Your-Customer (KYC) checks can be deployed to deter malicious and illegal activities.
Time & cost savings
For any success-driven business, the biggest challenge in its journey to quickly roll out payment acceptance is the involved software development effort. Firstly, organizations need to hire technical minds to gain a clear and deep understanding of the blockchain protocols and wallets. Secondly, developers are required to create interfaces to the merchant’s systems and apps from scratch.
Thereafter, rigorous testing and fixing of bugs is to be performed and this requires dedicated blockchain experts. Thankfully, you can save greatly on time and cost by opting for out-of-the-box white label payment gateway solutions. A white label payment gateway can act as a turnkey and bespoke platform to help you accept crypto payments as a business.
Bridge the gap between crypto and traditional finance
One of the biggest challenges preventing smooth mainstream crypto adoption is its conceptual distinction from the concept of traditional financing. For years, cryptocurrency users have found solace with the government-free, decentralized ethos. However, new entrants to the world of cryptocurrency often find it difficult to come on terms with the centralized financial systems they know.
This is where out-of-the-box white label payment gateway solutions from ITIO Innovex bridge the gap between crypto and traditional finance. These solutions allow users to easily pay through cryptocurrencies while still relying on familiar banks, payment processors, and credit cards they are already aware of. This helps users gradually embrace cryptocurrency and makes the seamless blockchain infrastructure accessible to mainstream businesses and users.
Crypto's Mainstream credibility
The concept of cryptocurrency still somehow appears risky, shady, and too technical for the average person unfamiliar with blockchain. On top of this, instances of price volatility, news stories about cryptocurrency scams, and illegal use of cryptocurrencies reinforce these negative perceptions, causing distrust. Thankfully, innovative white label payment gateway solutions from ITIO Innovex lend more mainstream credibility and acceptance to the concept of cryptocurrencies, boosting adoption.
Conclusion
White label payment gateway solutions from ITIO Innovex provide the missing crucial ingredients that are required for cryptocurrencies to gain trust, adoption, and acceptance - risk mitigation, friendly user experiences, cost savings, and easy & seamless integration.
