Crypto acquiring in Ukraine: Which solution is best
Based on Сhainalysis, Ukraine is among the top 5 countries with the best crypto adoption. It is now crucial to build infrastructure that would make crypto payments as easy as bank payments. Let’s look at the market’s best “white” crypto acquiring solutions.
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Let's first determine the selection criteria. We immediately excluded the platforms saying they are “against the war” on the website, while servicing “Mir” cards. Neither are we interested in solutions that continue to operate on the territory of the aggressor country and world terrorist number one, the russian federation, and serve the citizens of this temporary territorial unit.
As a result, several niche solutions and one major player made our shortlist. Niche solutions are designed for a specific cryptocurrency and have a limited geography. That's why we will probably talk about their advantages and disadvantages in a separate article. This time, we will focus on a universal “Made in Ukraine” solution aimed at both offline and online merchants that accepts all top cryptocurrencies and offers its own processing services. Such a solution is Whitepay.
Crypto acquiring by Whitepay
Whitepay is a crypto payment processing company, a subsidiary of Europe's largest CEX WhiteBIT. It offers crypto solutions for eCommerce and other businesses. Whitepay acquiring is a universal and flexible crypto payment service for offline and online merchants, which enables them to accept not only fiat currencies, but also more than 100 different cryptocurrencies.
Whitepay solutions include a crypto acquiring and invoicing, a POS terminal for accepting crypto payments and a transaction processing platform. Now the platform allows accepting a large list of crypto assets and five fiat currencies. It enables clients to make crypto payments, but all financial reports and invoices are generated in the national currency – hryvnia.
Source: Whitepay
Whitepay offers many features, including billing, POS terminals network management, and balance checks. It also enables users to perform detailed financial analyses and monitor cash flows in their personal account.
To accept crypto, you need a QR code-supported crypto wallet for fast and comfortable work. A one-time QR code and a separate wallet in the corresponding cryptocurrency are generated during each transaction, along with the order ID.
Whitepay markets itself as a universal solution, so it supports almost any wallet available on the market. Users do not need to transfer assets to any specific wallets to make crypto payments, as required by some other providers.
Whitepay also addresses the concerns about the volatility of crypto-assets. With Whitepay services, merchants don't risk losing some of their revenue due to exchange rate fluctuations. This was the main reason why most merchants or large retail chains refused to accept cryptocurrencies. Whitepay has finally solved this problem.
Whitepay is a company that scales and adjusts to the requirements of any country. In addition to Ukraine, Whitepay crypto acquiring is available in other countries such as Turkey and the United Arab Emirates. Thus, Whitepay service currently covers two continents. The company has expertise in localization and customization of acquiring services and enables payments in any fiat currencies with local merchants.
In Ukraine, Whitepay services are used by such retail technology companies as TechnoEzh, Stylus and Cactus. TechnoEzh has more than 100 stores in 18 cities throughout Ukraine. Stylus has almost 20 stores in 16 cities. Cactus is located in five cities of Ukraine: Kyiv, Kharkiv, Odesa, Dnipro, and Lviv (7 stores in total).
Crypto payment benefits for users:
- you can use any crypto wallet;
- no need to log in or register in any systems or accounts;
- you can pay with one of 100+ cryptocurrencies or 4 fiat currencies;
- auto-conversion to fiat at a market rate without additional fees;
- offline payment using Visa/Mastercard, smartphone, or any NFC-enabled device;
- invoices in local currency.
Benefits for merchants:
- a simple procedure of merchant registration — your requests are processed promptly, as opposed to bank acquiring, which takes several days or weeks;
- user-friendly personal account for monitoring revenue, and sales volume in real time – both for each sales outlet separately and as a consolidated report;
- quick extension of new trading points or digital assets exchange points using a handy web interface in the personal account;
- no risk of losing profit due to crypto volatility;
- multipurpose POS terminal, which works with QR codes and NFC tags;
- acceptance of crypto assets, enrolling proceeds to accounts in local currencies;
- possibility of invoicing in crypto;
- integration with online stores via API;
- expansion of the list of payment instruments by accepting cryptocurrencies and increasing the customer base.
WhitePOS terminal
WhitePOS
- high level of autonomy – the terminal operates for 24+ hours on one full charge;
- availability of a receipt printer at the merchant's choice;
- Wi-Fi support;
- touch screen with a user-friendly interface and menu;
- contactless payments with Visa/Mastercard using NFC technology;
- 3G/4G network support;
- the terminal doesn’t require additional settings – turn it on and use it.
Contactless payments can be made with any tokenized gadget, such as a smartwatch, fitness bracelet, NFC ring, or smartphone with Google Pay or Apple Pay support.
WhitePOS is PCI DSS compliant and ensures secure transactions in line with KYC/AML requirements.
As you can see, Whitepay is a modern and all-in-one acquiring solution. Try to pay with crypto via Whitepay! Bet you'll like it.
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