Blockchain tech has been deemed the most disruptive technology of this generation. The technology has existed for more than a decade now, but over the last few years, we have ushered into an era of possibilities with blockchain being leveraged across several industries.
The payments industry by far has been largely enhanced with the introduction of blockchain, making transactions secure, fast, and immutable. Traditional payment methods might have been the norm until now, but the high fees that come along with it are quite a lot.
Online payment methods haven’t kept up with times and lack various functionalities. While there are numerous payment platforms available, none of them provide all features in one space.
Addressing these concerns regarding traditional payment platforms while adding the best and most adopted features of cryptocurrencies, Blockchain payments platform Utrust developed a simple and versatile solution.
Leveraging blockchain tech, Utrust allows any online retailer to start accepting popular cryptocurrencies like Bitcoin, Ethereum, USDT, Utrust Token – UTK, Dash, and DigiByte, etc. and allow retailers to get paid in the desired fiat currency of their choice with a small fee of 1%.
Utrust in WordPress
With a presence in the industry, Utrust is now set to integrate its payment gateway with open-source e-commerce plugin for WordPress, WooCommerce. The simple, free, and easy to use plugin allows any WordPress website to an e-commerce store.
The integration with Utrust will now allow WooCommerce users to accept cryptocurrencies as a means of payment. By using blockchain technology to omit the middlemen, Utrust will cut down fees by 80% and retailers would only be paying the flat fee of 1%.
Furthermore, cryptocurrencies are completely borderless, and online stores will be able to serve customers from all across the globe without retailers having to pay extra charges. Retailers will also be paid in the currency of their choice, and the entire process would only take a few minutes.
Transactions will also be secure due to the immutable nature of blockchain tech, and would actively prevent the risk of fraud and chargebacks. Chargebacks represent an annual loss of +40 billion USD in the e-commerce industry.
The Utrust integration is a no brainer, and its custom API can be modified according to the requirements of the users, making it the most versatile crypto-payments platform for online businesses.
WordPress is the dominant leader when it comes to online stores, and almost 30% of all online stores run on WordPress. WooCommerce is the most used e-commerce plugin for WordPress and is used by 22% of the world’s top 1 million web stores. Together they power 3,876,748 web stores.
Thus, the integration with WoCommerce comes in line with the company’s mission of promoting a Simple and accessible payment method, which also saves money and time, whether you’re a merchant or a customer. Adding to this, cryptocurrencies will also get a lot of exposure all over the globe.
Sanja Kon, CEO of Utrust, commented on the event:
“If we want to ensure adoption of digital currencies, we need to be everywhere. We want every merchant, big or small, to be able to take advantage of the tremendous value of digital currencies. This is why it’s so meaningful for us to enable any merchant with a Woocomerce store to start using Utrust in less than 2 minutes using the WordPress plugin directory.”