Individuals and entities that offer their services and recognize online payments such as retailers, online stores and other companies face a permanent demand: is the payment suitable for my service and my product is binding and unalterable? This aspect is particularly significant in the case of virtual products, which cannot even be recovered (theoretically required return of ownership) if a payment already made is canceled or canceled in any way – with or without intentional deception. These and many other questions come to light more often in modern world trade.
In recent times, Karatbars has introduced its own blockchain-based secure payment gateway: K-Merchant. Thanks to the innovative software, merchants and retailers are authorized to obtain payments in specific cryptocurrencies: Bitcoin, Ethereum and KaratGold Coin (KBC).
All payments are processed immediately without delay, with a simple scan, eliminating any risk of transaction value. It included a fully set up PCI-DSS compliance and 24/7 fraud monitoring. The platform offers a continuous UX for suppliers and suppliers, continuous and uninterrupted optimization of tariffs and an innovative dashboard that guarantees authorization to various suppliers and partners with a single integration.
Karatbars CEO and founder, Dr. h. c. Harald Seiz expressed his opinion on the advantages of K-Merchant compared to competitors on the market: "From a merchant's point of view, however, what is progressive is that K-Merchant is not a point of sale function, but an entire cryptographic payment system."
K-Merchant is already active and collaborates with many big names like WooCommerce, Magento, PrestaShop, Shopify, WHMCS.
K-Merchant will take it to a whole new level because the company knows the problem because there are no more traders who accept payments from 153 million people around the world. The answer is volatility: we saw what happened to Bitcoin this year. Someone accepts a payment today through our banking system, but before a bank staff reaches your bank account in the meantime, you can't afford to lose 2% or 5% on your money. Some companies will fail if they lose 5%. They are already paying up to 3% for the actual credit card commission and do not want to lose through the volatility of cryptocurrency, making traders resistant to cryptocurrency payment systems.
What K-Merchant does is so powerful because it includes immediate payments for the merchant.
K-Merchant is a platform for e-commerce business that gives you the opportunity to use all e-commerce models (Business to Consumer (B2C); Business to Business (B2B); Consumer to Consumer (C2C ); Consumer to Business (C2B)) at the same time.
All in all, the main advantages of the K-Merchant System are:
- The payment reaches the retailer's account immediately;
- All payments are convenient for tracking and governing;
- Payments are processed quickly and transparently.
K-Merchant ensures that the entire process, from payment to delivery, will be smooth. All payments and products will be synchronized and there will be no changes. Once a payment with K-Merchant is completed, a K-Merchant payment order cannot be removed, defined, modified or even manipulated: these are exactly the significant advantages of the blockchain and cryptocurrency.
One thing is obvious: it is a huge step for e-commerce companies, from now on, not only retailers and stores, but all people around the world can use this new blockchain-based payment system. combining e-commerce models as the system allows users to do so.