In a recent discussion, William Erbey sat down to talk about ForumPay, one of his many business endeavors. This groundbreaking crypto-payments platform aims to facilitate crypto transactions with instant crypto-to-fiat conversions and settlements, connecting merchants to the fastest-growing consumer segment in the world.
What is ForumPay?
ForumPay is a crypto payment solution that combines the benefits of cryptocurrencies without the associated risk. Its seamless crypto-to-fiat conversions offer a secure and reliable way for users to make payments with digital assets while merchants receive traditional fiat currency.
ForumPay provides a smooth and instant conversion process, supporting a wide range of cryptocurrencies and wallets and offering flexibility and convenience to users. It is available for online and in-store businesses, catering to various payment options.
Solving the Problem
Many existing payment solutions have limitations that can be frustrating for crypto users. Some platforms only accept specific cryptocurrencies, limiting crypto users’ purchasing power. Others are restricted to particular wallets, causing inconvenience for those with different crypto storage preferences. The main obstacle for crypto payments is value volatility. More often than not, receiving payments in crypto is not appealing to merchants. Cryptocurrency values fluctuate constantly, posing a risk to merchants who may not receive the owed amount or need to store their earnings in a market susceptible to value fluctuations.
ForumPay offers a flexible approach. Crypto consumers can make payments using any wallet and cryptocurrency. Through instant price determination, backed by Limitlex exchange, merchants can receive crypto payments in the fiat currency of their choice. These instant conversions ensure crypto-paying users and fiat-receiving merchants get the best rates for these transactions.
The Key Benefits of ForumPay
ForumPay is a crypto payment gateway with distinct advantages that differentiate it from other solutions in the market.
1. Accepting Any Crypto: Access the Entire Crypto Market
Unlike many crypto payment gateways that restrict payments to specific wallets and cryptocurrencies, ForumPay opens up the entire multi-billion dollar crypto market to businesses. By allowing acceptance of payments from any digital wallet and with any cryptocurrency, ForumPay empowers merchants to tap into a broader customer base and maximize their crypto payment potential.
2. Instant Price Determination: Mitigating Volatility
Crypto value fluctuations pose challenges for businesses, leading to concerns about transaction wait times and potential losses due to volatility. ForumPay tackles this issue with its instant price determination feature. As soon as a client makes a purchase, ForumPay automatically converts the funds to the merchant’s preferred currency at the best available rate. These precise and instant conversions ensure merchants receive the exact price amount without any changes throughout the day, offering stability and peace of mind.
3. No Hidden Fees: Transparent and Cost-Effective
ForumPay is committed to providing transparent and cost-effective pricing for businesses. Unlike credit and debit card payments, often with hidden fees, ForumPay keeps things simple with a one-time transaction fee lower than its competitors. This simplicity allows businesses to access the crypto market and continue to profit without the financial burden of additional fees.
4. Security First: Ensuring Safety and Compliance
At ForumPay, security and global compliance are top priorities. All transactions pass through Jumio’s monitoring system, which uses a ruleset to identify money laundering patterns or suspicious financial activity. The platform’s due diligence and KYC processes managed through Sum and Substance, ensure transaction authenticity, accuracy, and legitimacy. Additionally, ForumPay verifies transactions using Chainalysis KYT, detecting patterns of risky activity and providing a secure environment for users.
Online or In-Store
Online Stores: ForumPay presents an effortless solution for merchants to accept crypto payments online through its button code and hosted payment page. The setup process is quick, enabling businesses to accept crypto within minutes.
In-Store Businesses: ForumPay’s solution for in-store integration is simple. Merchants install the ForumPay software, which generates QR codes for customers to scan directly from the POS terminal. If the user doesn’t have an existing POS terminal, ForumPay can provide a dedicated device with their payment solution pre-loaded.
ForumPay is a groundbreaking crypto payment gateway connecting merchants to the growing crypto market with seamless crypto-to-fiat conversions. It ensures secure and reliable payments for users while offering stability to merchants by mitigating value fluctuations. Accepting any digital wallet and cryptocurrency, ForumPay provides transparent pricing and user-friendly integration for online and in-store businesses, reshaping the world of digital transactions.
To learn more, visit www.forumpay.com.
