We are here to answer all of your ForumPay questions in detail. So let’s get right to business!
ForumPay is a crypto payment gateway; This means ForumPay allows businesses to enable crypto payments for their customers. ForumPay is here to help companies to prepare for a growing crypto economy by giving them access to one of the fastest-growing consumer segments.
FAQ No. 1: How much does ForumPay cost?
Installing ForumPay is 100% free. The only requirement is to complete the KYC process. ForumPay provides the tool you need to reach the crypto-spending market with zero obligation. ForumPay charges one minimal fee per transaction.
FAQ No. 2: Do I need to reach a minimum number of monthly transactions?
No, merchants do not have a minimum number of transactions to meet. Having the option to open up to the crypto-spending market is the most critical aspect of installing ForumPay.
FAQ No.3: Why should I accept crypto payments?
There are many reasons!
- Complete fast transactions, no matter the value amount or where in the globe they are sent or received.
- Cost-effective transfers and payments. Crypto transactions require no middlemen or multi-layer processes. As a result, most processing charges are minimal one-time fees.
- As of 2021, crypto spending has increased roughly 800% since 2013, with spenders statistically spending twice as much as other consumers.
- In times of economic crisis, people will find the optimal way to pay for goods and services. The crypto market has the potential to hedge against inflation and become the number one source of economic stimulation. When spending increases, it’s best to accept the strongest form of money.
- More companies, industries, individuals, and organizations are tokenizing their brands. The demand for token payment (crypto) processing increases.
- Crypto spenders tend to spend much more liberally than other spenders when the appreciation of crypto value increases. Multiplying funds not dependent on work increases the motivation to spend and invest in goods and assets.
FAQ No.4: Does my business have to receive funds in crypto?
Nope! And even better, ForumPay removes the volatility risk from crypto payments altogether. How?
- By instantly converting crypto payments to the currency of the merchant’s choice, there is no wait between making a transaction and the money settling. Instead, the value agreed upon between the merchant and customer is what will be sent and received.
- Merchants choose the currency they wish to receive in exchange for crypto. ForumPay converts funds when purchasing at the best real-time rate. Then, the funds are settled into the merchant’s bank account daily in the currency of their choice.
- Crypto transactions cannot be filed for chargebacks allowing merchants to avoid fraudulent actions.
- Funds are 100% guaranteed to the merchant for all confirmed transactions.
FAQ No.5: What cryptocurrencies can my business accept?
Any! ForumPay owns and operates its exchange meaning its technology has the power to enable payments for any cryptocurrency with enough demand. As of now, ForumPay enables crypto payments with Bitcoin, Bitcoin Cash, Ether, USDT, USDC, XRP, Litecoin, and DASH. However, other crypto payment solutions have limitations narrowing the possibility of opening up to the entire crypto-spending market.
FAQ No.6: Can my customers pay from any digital wallet?
Yes! ForumPay is entirely wallet agnostic, meaning no matter which wallet your customer comes in with, they can process a payment. But, again, other crypto payment solutions have limitations narrowing the possibility of opening up to the entire crypto-spending market.
FAQ No.7: In what countries is ForumPay available?
ForumPay is a global cryptocurrency payment platform that can operate across the globe, exempting countries from ultra-high risk jurisdictions or those on the OFAC sanctions list. ForumPay is globally compliant.
FAQ No.8: How do I start accepting crypto payments?
It’s easy! Visit www.forumpay.com to speak with a sales representative. A sales representative will guide you to complete a KYC process; from there, you are ready to go!