RocketFuel launches Blockchain based payments solution
RocketFuel, a global provider of one-click online payment options using Bitcoin and other cryptocurrencies has launched its blockchain-based payments solution. RocketFuel is the first cryptocurrency payment service to provide a seamless and elegant one-click checkout experience that today’s digital- and mobile-centric consumers have come to expect from eCommerce marketplaces. The service allows merchants and consumers to easily pay via 43 different cryptocurrencies or direct bank transfer in a completely secure environment. The first merchants to implement RocketFuel’s crypto acceptance functionality include global online travel portal SkyTours and cryptocurrency tax accounting firm BearTax
RocketFuel eliminates the need for payment intermediaries, significantly reducing merchant costs associated with card network fees, bank fees, and chargeback costs, and improves merchant cash flow. Using RocketFuel’s secure API, merchants can integrate RocketFuel’s payment solution in their online stores to offer highly optimized purchase experiences while reducing cart abandonment rates and fraud-related costs. In addition to being able to make payment from any cryptocurrency digital wallet, shoppers can also make payments in just one or two clicks directly from today’s cryptocurrency exchange accounts, including Coinbase, Gemini, Kraken, Binance, and Bitstamp.
“Ecommerce has become mainstream, but the payment technologies available to merchants are old fashioned, based on technologies which are not in-line with the needs and demands of modern consumers who prefer digital and contactless payments over cards or cash,” said Peter Jensen, CEO of RocketFuel. “Cryptocurrency represents the future of payments and is already disrupting the status quo by offering merchants a better, more economical option for their businesses and customers.”
Sky-tours implemented RocketFuel’s eCommerce cryptocurrency solution in its popular global travel portal to handle the surge in traffic to its site due to the recent post-pandemic revival of travel and tourism. “In the wake of Covid, the war on cash became a very real thing and RocketFuel’s universal payment method empowered us to continue doing business regardless of the type of currency being used,” said Randy Alleyne, CEO of Sky-tours. “RocketFuel is a pioneer in breaking down the barriers to entry on both sides of the transaction and changing the economics for merchants like us so we can operate in a highly efficient and profitable manner while preserving the security and trust consumers expect from our service.”
BearTax, a cryptocurrency tax accounting firm, leveraged RocketFuel’s solution to satisfy customer requests to pay for its services via cryptocurrencies. “As a provider of cryptocurrency tax software, we have a very high bar for working with other crypto providers and they must adhere to a stringent set of standards,” said Vamshi Vangapally, CEO of BearTax. “RocketFuel checked all of the boxes and more, and has been a great partner – opening the door to innovative crypto payment solutions that makes our customer’s lives easier.”
Until now, demand among merchants and consumers for cryptocurrency payments has been limited and cast off as a future method of managing digital currency. All of this changed last year with the pandemic serving as a catalyst to the acceptance of cryptocurrency as a global, currency-agnostic method of payment. Last year, in the US alone, eCommerce grew by 44%, accelerating online sales by 10 years in mere months and fueling demand for crypto-based purchases. In addition, within the next few years experts forecast there will be over 200 million cryptocurrency wallet holders worldwide ready to participate in this new era of payments.