Nature of Crypto Payment Gateways

Should I use a crypto payment gateway? What are the advantages to my business?

"The traditional finance system heavily relies on banking. Therefore, it might not be possible for people without access to a traditional banking system to participate in any transaction in the traditional finance realm. With crypto payment gateways, it opens up new opportunities for people who do not have access to a bank account.

A decentralized cryptocurrency payment gateway can handle different types of digital currency. Therefore, the absence of compliance or mismatch of currency can be completely avoided. Most prominent cryptocurrency wallets can handle almost all major crypto coins, making the access and utility more universal than ever!

A cryptocurrency payment does not have facilities for chargebacks or refunds. Although it might, on the surface, seem like a disadvantage, it ensures that there are no fraudulent chargebacks that eat a lot of time and effort when it comes to traditional finance. Since most wallet addresses are provided by QR codes, the chances of a fraudulent transaction are quite minimal."

Source: Finextra, last revised on 09 September 2021