Monero (XMR) is a private, secure and untraceable cryptocurrency launched in April 2014 which operates on the blockchain concept. According to Monero, users are in complete control of their funds and privacy no one else can see anyone else’s balances or transactions. Transactions are confirmed by distributed consensus and then immutably recorded on the blockchain. Monero is also untraceable as transactions on the Monero blockchain cannot be linked to a particular user or real-world identity.
With its non-traceable transaction history, participants are part of a much safer network with no risk of having their held units refused or blacklisted by others. These advantages have fuelled the rapid adoption of Monero as a means for payment.
Both the privacy and non-traceability aspects of Monero have made it a very popular coin which is currently 10th in Coinmarketcap.com rankings. Monero is described as cash for a connected world. Being fast, private, and secure, you can spend safely, knowing that others cannot see your balances or track your activity. This has led to an increase in people wanting to make XMR payments for goods or services.
To cater for the increasing needs of individuals and businesses looking to accept XMR payments, specialist providers are available for the purpose of processing these transactions via a Monero payment gateway. This is a decentralised payment platform enabling merchants to accept XMR transactions while incurring lower costs as there are fewer intermediaries involved.
Providers of these services can connect businesses to their platform using a Monero payment API which will enable you to integrate and accept XMR payments on your website. The API works by connecting your company’s checkout system to a payment acquiring network, allowing your customers to make purchases without having to leave your website to process payments.
Another advantage is that with the same payment infrastructure, you can also enable payments in your mobile app. This will give you access to real-time purchasing data, allowing you to make more informed business decisions.
Accepting XMR payments on your website is an excellent decision which will allow you to take advantage of the current trends and cater for potential future consumers. At the same time, you can fuel your business’s expansion by providing a payment service that will make you stand out from the competition. Getting started is a simple procedure and the popularity and growth of Monero as a payment method has made integrating a merchant account fast and easy. All that is needed is an initial set up, then you’ll be ready to start accepting XMR.
B2BinPay is a Monero payment provider/processor with solutions for Merchants and Enterprise clients. It enables businesses to send, receive, store, exchange and accept global cryptocurrency payments online, safely, securely and cost-effectively in minutes.
With B2BinPay, merchants can offer their customers XMR and more as a payment option. Features include low processing fees, no recurring fees, no hidden charges, real-time balance/transaction history, downloadable reports and secure checkout.
Enterprise clients can receive, store and send a large range of virtual currencies, including XMR. A secure, reliable and scalable wallet solution from a reputable, industry-leading cryptocurrency payment provider, features include secure API, automatic withdrawals for clients and a sandbox environment for development teams, over 888 coins and tokens supported and advanced real-time reports, together with 24/7 technical support in 7 languages including English, Chinese, Japanese, Arabic, Spanish, Russian and Greek.
Integrating B2BinPay is the ideal business choice for accessing the cryptocurrency markets quickly and facilitating global XMR and other crypto payments. Its expanding user-base includes over 100 cryptocurrency exchanges, forex brokers, online stores and a range of other merchants.
Get connected today and introduce a new payment mode that will benefit your existing clients, get you new clients and save you money!