🌐Introduction
Walio is a Cryptocurrency Merchant Payment Gateway built for the next generation of Business Web3 payments. Developed to be the most powerful and comprehensive Cryptocurrency Merchant system, we aim to make Cryptocurrency onboarding easier and more flexible for all Business types. By integrating a highly powerful Merchant system, coupled with Bridged Blockchain Payment Processing, Walio empowers businesses with flexible payment management tools and faster payment settlement times, as well as giving customers more freedom in how to pay with Crypto.
With Walio's powerful and efficient API's and features, businesses and developers are able to manage their cryptocurrency payments like never before!
Background
The nature of cryptocurrency transactions and their record of transactions make them primely suited for use in the financial and payments systems. Traditional payment systems often involve a series of intermediary banks or processors, that makes for high transaction fees and processing times as the funds pass through various hands before eventually ending up with the intended recipient. Although blockchain transactions do go through a process of validation or confirmation, these are not directly influenced over any specific blockchain transaction but rather a ‘batch’ of transactions going through the blockchain eco-system at any one point in time.
The peep to peer transactional behaviour of cryptocurrencies allows for transactions to be recorded on a public ledger (public blockchain), eliminating any middle man processors, as required with current fiat type payment and transactional systems.
Cryptocurrency also finally makes micro-payments more efficient and effective, heralding a new and massive potential for micro-transactions within commerce and other industries.
Cryptocurrency payments by no means will replace traditional payment channels and methodologies but is well suited to be used as an adjunct to these systems. While the ‘fiat’ financial system remains to exist, the traditional payment methods will also remain.
There hasn’t been much innovation within the financial and payments industry in recent times, but with the advent of cryptocurrency and blockchain technology, there is ample space for innovation and growth by use of these popularly emerging technologies.
With the world being more and more conscious of the effects of climate change, there has been a lot of negative stigma around the energy consumption of cryptocurrencies during ‘mining’ or confirming transitions. Although this may be true with Bitcoin and Bitcoin-like cryptocurrencies, there are many blockchain protocols that utilise different methodologies for confirming transactions that consume far less energy, and in most cases also increase the speed and capacity of transactions. It is for this reason that these technologies should be capitalised on.
Demand by consumers to have the ability to pay in cryptocurrency is ever growing, and will continue to be demanded, so it is only a matter of time before these payment methods become slowly but surely widely used in the new age of commerce. It is for this reason that the need for Quality, Adaptable and Flexible Crypto Payment solutions has never been greater. Payment solutions that factor in the ever changing landscape of business needs and wants an taking into consideration Businesses obligations.
Cryptocurrency is evolving in the world, from regulatory introductions and acceptance to businesses interest in its usability, stronger long term solutions are needed for businesses to meet all their requirements and obligations (such as tax obligations) along with making integrations of such solutions as seamless as possible without the need of a business having to hire extra expertise.
Last updated