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ACCEPT CRYPTO FROM THE FASTEST GROWING CONSUMER SEGMENT IN THE WORLD
Optimize the vehicle buying process with fast and secure purchases by accepting cryptocurrency payments.
TRUSTED BY
WHY CRYPTO AND AUTOMOTIVES?
For crypto holders:
Convenience: It is much easier for crypto holders to transfer their funds directly. The alternative would involve sending their funds to an exchange, selling, and moving them into a bank account as a taxable asset, to only then start the buying process.
Speed: Cryptocurrency transactions are completed almost instantly, meaning sellers do not have to wait for funds to be transferred through traditional financial services.
Transaction fees: Enjoy lower transaction fees and intervention or charges from traditional banks.
For sellers:
Tap into a growing consumer segment: Approximately 40% of U.S. consumers own at least one cryptocurrency, according to a PYMNTS survey.
Tap into a growing market: The cryptocurrency market capitalization is currently worth $2.76T and growing.
Top companies are already accepting crypto: AutoNation Inc. is the largest new-vehicle retailer to accept cryptocurrency payments.
CHALLENGES CURRENTLY FACED BY DEALERSHIPS
Intermediaries, such as banks, can slow down sales processes and complicate transactions
Transaction fees for high-value purchases can diminish returns
Selling to international clients can be challenging due to varying FIAT currency conversion rates
Completing the payment for a vehicle, or submitting a down payment, can be a lengthy process
FORUMPAY ADDRESSES THESE
CHALLENGES
BY PROVIDING
Speed and efficiency.
Payments are processed instantly and deposited at the end of each business day
Rapid verification
of wallet addresses and the source of crypto funds before each transaction
Protection from volatility
through instant crypto-to-FIAT conversions
Access to the larget growing consumer segment
in the world
The consumer makes a payment directly from their cryptocurrency wallet.
HOW IT WORKS
ForumPay instantly converts the crypto funds into the equivalent amount of FIAT currency at the moment of purchase.
The funds are immediately reflected on the merchant dashboard and settled into auto dealership's bank account on the next business day.
WHY FORUMPAY?
ForumPay elevates transactions, enabling businesses to secure new revenue streams without added risk or complexity. ForumPay is meticulously designed to address the challenges faced by global businesses and payment processors by guaranteeing scalability, compliance, speed, and security. ForumPay solutions empower users with the ability to:
- Reach over 575 million crypto-consumers via a wallet-agnostic solution.
- Avoid cryptocurrency volatility through instant confirmation and conversion to USD, EUR, GBP, or other traditional FIAT currencies.
- Receive direct bank deposits on a daily basis.
- Integrate the system smoothly into existing payment flows.
- Transact safely with dependable security measures.
- Assure compliance with all international jurisdictions.
- Benefit from established trust with top payment leaders.
Step confidently into innovative transaction processing with ForumPay.
SECURITY AND COMPLIANCE ABOVE EVERYTHING ELSE
ForumPay’s ability to authenticate the origin of funds and the duration of digital assets in a particular wallet earns it the distinction of being an approved solution by Fannie Mae and Freddie Mac.
We ensure the highest level of KYC/AML compliance and security for our merchants through our partnership with Sum & Substance.
We instantly verify the consumer’s wallet, availability of funds and flag any security concerns with our partners at Chainalysis.
FAQs
Crypto-consumers are one of the fastest-growing segments in the world, with over 575 million wallets issued to date.
Studies show that crypto consumers spend twice the AOV of a typical credit card consumer, and that 40% are new customers.
Plus, paying in cryptocurrency is more efficient than traditional payment methods, as much fewer parties are involved in the payment process.
We charge a single, all-inclusive transaction fee. There are no other hidden charges.
We currently support Bitcoin, Bitcoin Cash, Litecoin, Ether, DASH, XRP, USDC on Ethereum and Polygon blockchains and USDT on Ethereum, Tron and Polygon blockchains, MATIC and TRX.
As we own and operate our own exchange, we can easily add additional cryptocurrencies to meet customer demand.
We initiate settlement at the end of every business day, subject to a minimum settlement amount, and at the end of every week as an absolute minimum.
We provide instant confirmation for cryptocurrency transactions, which acts as a payment guarantee for the merchant.
All digital crypto wallets are supported by ForumPay. Our solution is fully wallet-agnostic.
Yes, we offer this service. Remember that your business could be exposed to volatility risks due to the fluctuating crypto market.
Yes, we also offer a crypto-to-stablecoin processing flow with your stablecoin funds settled into your wallet on a daily basis.
ForumPay is a global cryptocurrency payment platform. We operate across the world, apart from in ultra-high-risk jurisdictions and those on the OFAC sanctions list.
No, we instantly convert crypto to FIAT the moment the transaction occurs.
Yes, we guarantee funds for all confirmed transactions.
We aggregate price feeds from several major cryptocurrency exchanges to provide the best available real-time exchange rate for the transaction.
Yes, our solution is fully automated from end to end, and all funds are converted into FIAT and settled into your bank account automatically. No manual intervention is required.
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