ForumPay is a crypto payment gateway that benefits consumers and merchants. But what sets ForumPay apart from the other solutions, and what other benefits are there? Let’s find out!
Accepting Any Crypto From Any Wallet:
Whether online or in-store, more and more merchants are looking to expand their business by tapping into the multi-billion dollar crypto market.
Many crypto payment gateways enable payments from specific wallets and specific crypto, but why have such limitations? ForumPay allows businesses to accept crypto payments from any digital wallet and with any cryptocurrency. The main benefit of accepting crypto is accessing the crypto market – not just a fraction of it! ForumPay technology enables payments with any crypto providing enough demand. As of now, ForumPay accepts USDC, USDT, Bitcoin, Bitcoin Cash, Ethereum, XRP, Litecoin, and ProperT.
ForumPay technology enables payouts with stablecoins, such as USDC. The merchant can define the total stablecoin amount set aside for making payouts and refunds, with the balance topped off at settlement. Merchants can choose to make payouts individually or in batches to minimize transaction fees. Stablecoins for payouts are ideal as their value is pegged to a tangible asset, like the US Dollar, meaning their value isn’t subject to fluctuate with market volatility.
Instant Price Determination:
With crypto value fluctuating by the second, there are concerns about transaction wait times. In the time between a payment being made and the funds settling, there could be a considerable distinction in value. This volatility oftentimes results in businesses approaching crypto payments with hostility. This is why one of ForumPay’s outstanding benefits is instant price determination.
Instant price determination means that ForumPay automatically converts those funds at the best rate when purchasing. The merchant will receive the exact price amount in their bank account at the end of each day without worrying if that value will change.
No Hidden Fees:
Any business that accepts credit and debit card payments knows the headache it is to see those fees render out each month. Not only are they high and hinder business revenue – but there are also hidden annual and maintenance fees which beg to question: is accessing card-paying clientele worth the loss?
This should never be the case for any business, and ForumPay knows that! Each transaction has a one-time fee lower than any other competitor. You can access the crypto market without hindering profit.
Safety and global compliance are ForumPay’s top priorities. All ForumPay transactions are loaded into Jumio’s monitoring system, where the ruleset is used to identify any patterns of money laundering or suspicious financial activity.
ForumPay is free. ForumPay‘s due diligence and KYC are all managed and validated through Sum and Substance to ensure authenticity, accuracy, and legitimacy.
Another way ForumPay verifies transactions is through Chainalysis KYT, which detects many patterns of risky activity, from darknet markets and scams to sanctioned addresses and anomalous transactions.