A crypto payment infrastructure provider is celebrating after reaching an important milestone: achieving a presence in more than 500 stores across Slovenia and Croatia.
GoCrypto, the newly upgraded platform that succeeded Eligma’s Elipay, is now setting its sights on expanding to other parts of Europe: namely Switzerland, the United Kingdom, Turkey, Serbia and Bulgaria.
The company says it provides online and offline stores with an easy way of accepting custodial and noncustodial crypto wallets — giving them access to an ever-growing number of consumers who want to pay using digital currencies. According to GoCrypto, payments are processed instantaneously, with merchants enjoying low transaction fees that are unmatched by rivals.
A key part of GoCrypto’s offering has involved ensuring that the process of making or accepting crypto payments is as straightforward as possible. No prior knowledge of this industry or blockchain is needed, meaning merchants don’t need to train their staff or educate their consumers about the payment method.
An array of cryptocurrencies accepted
While GoCrypto believes that an increasing number of retailers are interested in exploring what crypto can do for their business, the brand appreciates that volatility concerns mean that they are wedded to fiat currency. Exposure to sudden price movements is eliminated by how crypto payments made using Bitcoin Cash, Ether, Bitcoin and ELI (soon to become GoC on the Bitcoin Cash blockchain) can be immediately converted into the local currency of a merchant’s choice. The use of the Euro Token voucher is also possible in some countries.
The company says statistics surrounding demand for crypto transactions amount to a compelling proposition for brick-and-mortar stores that want to stay relevant in the digital age, not to mention independent e-commerce platforms that want a point of difference from more mainstream rivals. According to GoCrypto, there are more than 4 million potential customers out there right now — as it supports payments with Elly and the Bitcoin.com Wallet. Moreover, research suggests that in excess of 11% of consumers in certain geographical areas would like to experiment in paying with digital currencies. Given how established brands such as Facebook and Walmart are pursuing the potential of stablecoins, it seems that this is an industry that is only going to grow further — especially as awareness about the advantages of crypto rises among the public.
GoCrypto says its infrastructure isn’t just designed to be beneficial for merchants. One of the biggest sticking points facing the industry has been the difficulty crypto enthusiasts have faced in spending their digital currencies. The brand says that its offering is designed to make payments more straightforward than taking a picture — delivering the kind of frictionlessness that has been reserved for mobile-based fiat offerings until now.
On the consumer-facing side, the Elly wallet, also developed by Eligma, delivers simplicity by removing complications surrounding exchange rates, and making transactions as effortless as scanning a QR code. The company says its offering is faster than counting change or rummaging around for a credit card.
Elly is also aiming to address the disappointment that many consumers experience through loyalty schemes — especially with the best-known stores. Its approach involves revolutionizing the status quo, where individual retailers offer competing schemes with low rewards. Through this crypto wallet, all payments can result in cashback of up to 2% — which, when coupled with an easy way of purchasing digital currencies using a bank account or credit card, delivers an accessible gateway for those who have never used digital currencies before.
Eligma has been establishing new partnerships to get its technology in front of a larger audience. One such collaboration is with Bitcoin.com and the Pangea Blockchain Fund. For all involved, the ambition is to make crypto a part of everyday life — and it seems substantive progress is being made toward this goal.