Blockchain Transforming Recurring Billing Platforms With High Speed and Security

Are you running an online subscription business but not 100% sure about cybersecurity robustness. As the business grows, the risk factor also increases. Receiving payments from customers on a regular basis through online portals is not as easy as people think about. You have to maintain the utmost service quality including speed and security. It requires cutting edge technology adoption as per the current trends. Also, you must have knowledge of technology that is emerging but has a bright scope in the near future. In payment acceptance gateways, blockchain is the most happening and emerging technology that will definitely change the way eCommerce businesses work. Let’s understand in detail about all aspects. 

 

How blockchain can help in online subscription billing? 

First of all, you need to understand that blockchain is a digital ledger and cryptocurrency is virtual money that we can manage through this ledger. Many companies are providing digital wallets to store cryptocurrencies securely with customer data. The concept of blockchain and cryptocurrency is at its emerging stage. Still, you must be encountering many customers who are willing to pay in cryptocurrencies. Usually, we create an account on any random cryptocurrency wallet and share the public key to receive digital money. The recurring billing platform running on cryptocurrency adopts a similar concept. 

 

In order to make it more professional and user-friendly, developers created cryptocurrency acceptance buttons for websites and web applications. Just like any typical payment acceptance platform like PayPal, these wallets also work in the same way. The only difference is between currencies. Digital wallets embedded with blockchain technology are only meant for accepting cryptocurrencies. You must be thinking why upgrading your eCommerce business with cryptocurrency wallets is so important? We will try to explain the answer with some points right here. 

 

Why do we need a digital wallet running on blockchain technology? 

1. Robust cybersecurity

Blockchain is currently the safest technology because of its decentralized mechanism of working. Any process running with blockchain digital ledger is considered as safer than other technologies currently present in the market. In terms of payment acceptance with subscription billing software, it is much better than the currently trending SSL system. Blockchain security is nearly unbreakable and mein costs the hacker more than he tries to steal. 

2. Fast and uninterrupted payments processing

unmatched speed is another major advantage of adopting blockchain technology. While trading in cryptocurrency, it will hardly take a few minutes to execute the process of payments received from any part of the world. It involves no third party such as banking or financial institutions that means direct money transfer with nominal transaction charges as compared to the conventional modes of payment acceptance. 

3. Adequate transparency

Everyone connected within the blockchain system can track the record but without influencing the data. This is a major advantage with the cryptocurrency payment acceptance gateway. If somebody tries to make any change, the entire blockchain will corrupt.

4. Customer privacy

Payments are received and transferred only through public and private keys. No physical address or any account detail is required to confirm the payments. This privacy makes it the best recurring billing software of current times. If the customer wants to keep his / her account details anonymous while making any transaction, cryptocurrency is the only way to make it possible.

 

Whether you accept or not, payment accepted through blockchain digital wallets is the future of eCommerce business. This recurring payment software is secure, transparent, fast, and maintains the privacy of both parties. Keep your online subscription business up to date with this emerging technology to stay one step ahead of the existing competitors.