The meaning of the word chargeback is familiar to all businessmen.
However, it is high-risk merchants who face chargebacks most often. That is why they are in this category.
There is no way to get rid of chargebacks. The financial policies of any country will not allow this. Would you believe it? If it was really true, this article would not exist.
It is possible to get rid of the chargebacks. That is if you accept payments in cryptocurrencies. At this point, the rules are that if your client has paid in cryptocurrency, it’s their conscious choice. It’s impossible to make a refund on the transaction. And while this rule is in effect in all countries, we recommend taking advantage of the opportunity.
Will it work for all categories of businesses?
Most often the possibility to pay in cryptocurrency is offered by businesses in the high-risk category, namely companies, which work in the spheres of gambling, betting, dating, nutrition, etc. But this is not an absolute сonstant.
It is hardly necessary to talk about the popularity of cryptocurrencies. According to the research of global consulting company Triple-A, in 2021 in some European countries, more than 10% of the population owns cryptocurrencies, and in the U.S. – 8%. However, every month the figures are increasing. The rate of cryptocurrency ownership is growing especially fast in Africa and Asia.
Paying for goods and services in cryptocurrencies allows one to keep maximum privacy. Confidentiality is liked by users. That is why more and more clients choose this payment option.
Accepting cryptocurrency payments allows businesses to test hypotheses
Do you want to enter a new market? Some markets, like Germany, England, and Canada are very strictly regulated. However, if you assume that there is a target audience for your offering in one of these countries, then why not test that hypothesis? Accepting cryptocurrency payments would help bypass bureaucracy and simplify taxation.
The same rule works for testing a company’s new product. Bringing a new product to market is difficult, and if you set up payments in fiat money, it can be even longer. Accepting cryptocurrency payments speeds up the process.
No chargebacks – no hold and rollover
This means that your funds are not frozen. You can withdraw them as soon as you receive them and invest them to grow your business. You don’t have to wait weeks and months. This is a significant advantage.
Of course, you can hardly do without accepting payments in fiat currencies at your site. Few businesses can afford to accept payments solely in cryptocurrencies. However, this can be a great alternative.
What payment services offer
Accept cryptocurrency payments with 0% commission. This offer is from BetaTransfer Kassa, the main sponsor of GBC-Time iGaming Round-Up.
BetaTransfer Kassa is a reliable and secure payment service, which will help you to set up accepting payments from all over the world in cryptocurrencies. The company has been on the market for more than 7 years and has great experience in working with high-risk merchants. The solution from BetaTransfer Kassa – BT Wallet – allows accepting payments in various cryptocurrencies. The working conditions are flexible. Commission for accepting some cryptocurrencies, such as BTC and ETH is completely absent, the maximum commission that can be assigned to accept payments in USDT is up to 2%. With BetaTransfer Kassa, businesses do not lose money and do not depend on chargebacks.
Read more about this at the link: https://bit.ly/3T0nWlu
