February 2020
Intermediate to advanced
256 pages
8h 36m
English
Content preview from The PAYTECH Book
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Facilitating Online Crypto-Payments Now and in the Future
By Evgeniya Mykulyak
COO, B2Broker
The growing demand for online payments using cryptocurrencies has undoubtedly made its mark on the payment industry and, as a result, we have seen the emergence of more and more specialist payment service providers (PSPs) to cater for these needs. These advancements in the industry have made the requirement for a cryptocurrency payment gateway a necessity for many businesses. Further developments in this area are set to reshape the payments ecosystem and the future of money will be transformed.
The Emergence of Cryptocurrency Payment Platforms
Cryptocurrency emerged in 2009 with Bitcoin, the first decentralized currency. The aim was to create a secure and anonymous means of transferring value but, as further developments quickly unfolded, it soon paved the way for a whole new value transference. The last decade has seen technological developments in this sector progress at an unprecedented rate, and the huge popularity of cryptocurrencies has impacted on many areas, especially the payments sector.
Until recently, online business enterprises and merchants were limited to the more traditional methods of payment, such as credit/debit cards and various payment providers such as PayPal, Neteller, Skrill, etc., but now – with the increasing demand for crypto-payments – the payments industry has moved forward in leaps and bounds.
Growth in Demand for Online Payments
The growth in demand ...
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