Are you looking for ways to allow payments on your website? Maybe you are wondering about changing the methods that you are using now. Find out why you must create your own coin using blockchain technology, and why is this the next step towards the success of your e-commerce business.
Achieving growth and global recognition is not an easy path. Every startup usually has humble backgrounds. Unless you have a lot of money to invest or have successful venture capital, all intents of expansion are reduced. Undoubtedly sharing information through social media is effective to call attention. Maybe you can tell people where you are, what you do, and what makes you special and different as a business or company. Yet, people talking about you does not necessarily mean conversions. The only way you can maintain your business is getting steady costumers and flowing income.
Get paid: A step towards profitability.
If you already have a promising product or idea and you have cleared up your market the second step is the key elements of your store: your brand name, domain name, your logo and of course, your payment methods. For brand recognition to become conversions you need to get paid, if people don’t go to your website and buy your product it doesn’t make sense to keep going. Until your company adopts a far clearer position in that context, you cannot expect to receive any wider international recognition and achieve expansion.
That’s right, it's time to start thinking about ways to allow payments on your website. First we have to start saying that with the internet becoming an essential requirement of everyday life, businesses are learning to take advantage of the numerous benefits of eCommerce. Time and price reductions, faster transactions, better organization and management of products and inventory and also the fact that you can address your clients by their full names even if there are thousands of them. A laptop (in some cases even a phone) and an internet connection is all it takes to manage your business from anywhere in the world. We are bringing every process done before in our physical stores, to the network.
Even more now, with the introduction of blockchain technology in 2009, the view of money has changed completely, and the interactions among people have also been affected significantly. Then if you are an active entrepreneur, you should know that the methods can change drastically and that we have to keep up with those changes to get the best out of them. Giving your customers the best service possible and staying always in the first place.
The example of a startup
If you want to start your own website to sell stock pictures and original designs, you will probably have to start selling in your country’s fiat currency. That does not say a lot about international reach by itself, because even if people around the world like your job, they would be unable to pursue your services or subscribe to your website. On the other hand, you would need to hand confidential information to them by phone, like credit card and bank account numbers.
Now, you are probably thinking “is ok, every business has a start” and it’s true. The next step would probably be to register and fulfill the law requirements to be able to let people make payments in any other currency. Maybe platforms like PayPal, which is one of the strongest payment platforms in the world that recognizes many fiat currencies. I have to remind you, though, that If you create a “pay now” button with one of these providers, you are tied to using their merchant account and their rules which aren’t always for your convenience.
These payment methods are known as the merchant account provider and the payment service provider. The Merchant Account is a special type of bank account that allows your business to accept debit & credit card payments. Every merchant account needs a payment gateway which is like the front end that integrates with your website, this type of gateway usually requires a previous solicitude and it may take longer than you want to wait. There are other types of payment service provider like the mentioned PayPal, this is usually the method most websites (online shops) provide.
Old methods always find their end. Before telling you why creating your own coin or money is the new and most functional method, I'd like to let you know why other payment methods can actually be bad for business.
Old method = Bad news
But here are the bad news: did you know that they will take a small percentage from each transaction and they may also charge a monthly fee for their services? you’ll be paying anywhere from 1.5% to 3.5% in total per transaction plus any other monthly fees that apply. It means that in the first place you are not receiving the whole amount of your payments and also it means that in order to fulfill you monetary expectations you will probably have to high up your prices a bit, which could be bad for your business, since one of the best things you can do is try to keep you product accessible, offering the best prices in the market.
Some providers also charge startup fees, also, you would have to make sure that there are no small letters behind the text. Many providers vary between types of transactions and could be charging extra fees. You can use an off-the-shelf eCommerce platform like Shopify, which can help you build an online store more quickly. However, it will also mean less customization, as you will need to choose from an existing pool of themes and tools provided by the platform. Also, any platform of payment gateway you choose will require previous acceptance and you may not be able to start selling and getting paid right away..
Your own payment method: Create your own coin
All of these reasons lead us to want a solution, and what If I tell you that there is one?
Did you know that there are platforms like mintMe.com that allow you to create your own money which you can use to get paid for your services? Talking about finding the best methods, being aware of the newest technologies and taking advantage of them is the best you can do towards business growth.
Usually people have doubts about it because they fail to the great advantages that creating your own coin has, and how this can easy up the payment process for you and your clients, because they are stuck in the old way of thinking, and for many years, the e-commerce world has offered only the same kind of payment processes. Yet, it does not mean that such processes are the best, nor the faster or cheaper.
Egalitarianism, the secret behind blockchain.
One of the Blockchain technology’s primary statements is decentralization. In the blockchain, none is the center, and none, in particular, has all of the control or authorship over the network. Everyone has authorship and everyone has responsibility for it. Every business, big or small, in every part of the world can participate in it. Which is why we call it an egalitarian distributed ledger, you are the owner of your own future. Blockchain allow small businesses and startups to have the same opportunities that anyone else.
Credit cards aren’t processed cheaply, at least not for a startup. Thinking that the same methods could work for everyone may actually be the wrong approach. A typical fee, for a small-volume account fewer than 1,000 transactions per month, would include monthly processing fees ranging from $10 to $100. Transaction fees of about 3 to 5 percent per transaction are included, which is not an insignificant amount if you’re expecting a return of investment and are already in the red numbers due to huge inversions/p>
But why should I create a coin?
When you create your own money you are creating convenient ways to accept payments on your website. Having more options can reduce the time it takes your business to get paid. And people are usually looking for easy access and fast transactions. When you have your own coin, you have the advantage.
Many people don't have a bank account, others don’t trust in the usual payment methods. Switching to cryptocurrencies may be the new method that people have been looking for. Cryptocurrencies are connecting those kinds of people with the world of e-commerce. After all, they just need an internet connection to get started. And most of all, there are no big lists of requirements to create your own wallet. You can start using your own digital coins right after creating them. You don’t even need to provide your personal information, protecting your identity and avoiding scams or fake credit card payments.
Blockchain technology and cryptocurrencies aim to replace centralized systems. Banks, or any other intermediary is now only and option and not a need. Blockchain allows direct connections around the world.
-By creating a coin with the help of blockchain technology you will greatly simplify the shopping process. Reducing fees, for you and your clients.
-Creating your own coin or money can improve the process of payment on your website. Many people from around the world will be able to buy directly from you.
-An easy process and without the need of third-party intervention.
-People can save time when making payments securely. Each payment made would debit right away and be redirected to you.
-Your client’s personal information is safe. You can have a more direct and sincere p2p relationship in the business world, increasing trust.
Creating your own coin at mintMe.com can also help you announce your brand and obtain more trust since you can personalize the tokens you create and name it after your brand or domain name. Getting your brand right from the start can help accelerate the growth and conquer the hearts of potential customers.
Earning trust thanks to Blockchain technology and allowing payments on your own digital currency will allow you to turn your attention to other important details. Now you can focus on building the store, studying SEO factors and improving your communication with your clients. Also, creating new products, so that your business gets off to a good start.
Create a token at mintMe.com and be the owner of your own future!
By Mary Schwartz