How to connect payment acceptance in a market where acquiring isn’t possible

Content Team 3 months ago
How to connect payment acceptance in a market where acquiring isn’t possible

How to connect acquiring in a new market when it cannot be connected? How do you deal with banks freezing money and not wanting to give it back? These problems are familiar to many companies in the high-risk category. The white collar and clumsy century-old banking system is not ready to change, and the whole niche suffers from it. And those who pay lip service to offering more flexible terms, in fact still impose a whole host of requirements and the terms become bondage.

The world of cryptocurrencies may be an alternative, but this industry is not developed in all countries. Trust has not yet been formed or cryptocurrencies are banned.

The solution to the problems is at the intersection of the banking and crypto-sphere – it is P2P payments.

Payment acceptance solutions based on P2P payments are an opportunity to set up a stable system and not lose money.

  1. The funds are not frozen. Merchants can withdraw funds on the same day as the client’s payment.
  2. Conversion from 80%, while traditional acquiring can guarantee from 50%. The bank does not know why the user sends money to another user, so it does not block such transactions unlike high risk acquiring.
  3. The throughput of payments is not reduced. If your payment provider has tens of thousands of cards in its arsenal.

In countries where acquiring is not possible, it is possible to accept payments

For example, India. This is a huge country with great potential, where until recently the largest players in the high-risk market could not enter. At the same time, it is in India that such a payment method as pay&delivery is widespread. Users transfer money in cash through a courier on a moped, who writes everything down in a special notebook.

It would seem that such a chaos of tens of thousands of couriers on mopeds is impossible to systematize. However, it is also realistic. There is to develop an invoice-aid system, add an accounting system and set up a navigation system for mopeds and control over them.

This is nothing new. Users are used to pay&delivery and trust couriers, so the conversion rate is high. At the same time, the speed of deposit to the account is no more than 5 minutes.

On what geos do P2P solutions work?

It all depends on which payment provider you turn to. We at Betatransfer Kassa are ready to offer solutions in all prospective markets: former CIS countries, Asia, Africa, Latin America. Moreover, even if we do not have a ready-made solution for a new geo (which means that it is most likely no one else has it). We are ready for non-standard tasks and their solutions.

Betatransfer Kassa is a payment provider. We have been on the market for over 7 years. Our main expertise is working with high-risk merchants. We know what solutions our clients need, and if such solutions do not exist yet, we know how to create them.

Besides, in order to give our clients the best quality product we are constantly looking for partners. If you have a P2P solution for some geo, we are ready to buy it.

Betatransfer Kassa will be at SiGMA Europe 2023 taking place at the MMH, Malta- Look for our booth in the exhibition hall at number 3083.

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