How CoinRemitter Makes Cross-Border Payments Easier for Businesses

Nowadays, many businesses want to save international consumers. However, cross-border transactions can be slow and expensive. Also, they may be full of restrictions. However, cryptocurrency payments can be helpful in this case. They can be more practical for cross-border payments.

Here, we will learn how a crypto payment gateway simplifies cross-border payments for businesses.

What are Cross-Border Payments?

Payments that take place in two or more different countries are considered cross-border payments. For example, a client in the UAE paying a business in the USA is making a cross-border payment.

Traditional payment systems can feel slow and costly for cross-border payments. They charge high fees and require multiple intermediaries to process the payment.

This process can be stressful for many online businesses. It reduces profits, delays work, and complicates the trade. That’s why many businesses have started using cryptocurrency payment gateways like CoinRemitter.

How CoinRemitter Simplifies Cross-Border Payments

1. Lower Fees

As discussed above, cross-border transactions can be costly for several reasons. Some of them are currency conversion taxes and higher transaction fees.

This can be fixed with cryptocurrency payments. You can easily exchange cryptocurrency for your preferred fiat currency, eliminating currency conversion fees. Also, fees are low because there are fewer/no middlemen.

CoinRemitter charges only 0.23% in processing fees, which is up to 77% lower than the average crypto processing fee. This helps you earn more profits by reducing your transaction costs.

2. No Requirement for KYC

Many traditional or crypto payment processors ask for KYC during registration. This may slow registration and also pose a privacy risk. This crypto gateway allows businesses to accept crypto payments without KYC. This means you can register on this platform without submitting your ID proofs.

Privacy is considered an essential factor in cross-border payments. Many business owners may not be comfortable with sharing their documents and other sensitive details. So, a No-KYC crypto payment solution can be ideal for privacy-focused business owners. Also, this simplifies cross-border payments by shortening the onboarding process.

3. Built-in Wallet System

Wallet services of this cryptocurrency payment gateway are quite underrated. This platform provides wallets that differ from usual crypto wallets. They are ideal for accepting payments rather than storing funds. You can receive payments in an internal wallet and then transfer them to your external wallet.

Fund settlement is another big concern with cross-border payments. Many payment processors hold funds for extended periods, which may disrupt your cash flow. The Auto-Withdrawal feature in CoinRemitter wallets automatically transfers funds to an external wallet every 30 minutes. This makes cross-border payments simpler by improving cash flow.

4. Easy Crypto Payment Integration

Now, this is where many business owners struggle. Not everyone can go through a complex technical process. However, this crypto payment processor simplifies the integration process with the following features:

• Plugins: Can be used to accept payment in crypto on platforms like WooCommerce, PrestaShop, OpenCart, PHP, Node.js, Laravel, and Magento.
• Crypto API: Can be used as an alternative to plugins. It offers greater flexibility but requires basic coding skills.
• Widgets: Can be used to accept crypto payments without coding skills for pricing plans, ICO presales, e-commerce, on-demand services, donations, etc. It provides various features, including the Pricing Widget, Presale Widget, Payment Button, and Payment Page. All the features provide you with auto-generated code/URL according to your widget preferences, so you can accept payment in crypto without coding skills.

With the help of the features mentioned above, this platform simplifies crypto payment integration. This simplifies cross-border payments for businesses.

5. Express Technical Support

This matters the most for any online platform, including cryptocurrency payment gateways. This platform has three options for technical support: Ticket, Email, and Live Chat. You can ask for technical support for any platform-related query and expect a quick response.

This crypto gateway also offers technical support for crypto API integration. So, you can easily integrate crypto payments into your website and get started.

Conclusion

Cross-border payments are important to help businesses reach global customers. However, they had some issues that needed to be solved. Many of them were solved by cryptocurrency payments. However, cross-border payments still weren’t simple. It wasn’t always easy to adopt crypto payments for regular use. So, CoinRemitter made their adoption easy to simplify cross-border payments for businesses.