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Online merchants wishing to accept cryptocurrency may now do that easily
Apcopay, a leading supplier of eCommerce payment and banking solutions for financial institutions, retailers and internet merchants and elegro, an Estonia-based licensed crypto exchange, today announced the launch of elegro’s crypto acceptance solution. Through this partnership, online merchants wishing to accept cryptocurrency may now do that easily, eliminating chargeback risk typically found within the credit card world, whilst also carrying no currency exchange exposure. Moreover, funds are sent directly to the merchant’s bank account without the need to create crypto-specific wallets. According to cryptopolitan.com, statistics show that the adoption of mainstream cryptocurrencies has increased by more than 70 times in the last six years, yet more than 80% of users preferred to use a credit card for online purchases, so this shows that crypto propulsion to the next level may largely be attributed to user acceptance.
Forming an integral part of the Apcopay payments offering, merchants who wish to avail themselves of elegro’s crypto acceptance solution to their users need only activate the new options through their checkout page without the need for any complex technical development. Timm Schneider, CEO of elegro said “I’m very excited about the partnership with Apcopay as it allows us to drastically speed up our rollout plan for this year and make our crypto merchant acceptance solution available to a large network of businesses immediately. We are a young company and such a reliable partner is vital to our success. Existing Apcopay merchants can now enjoy a frictionless onboarding and use their existing integration rails to activate our crypto acceptance. This is a major milestone to establish our crypto acceptance for merchants that did not even think about it so far.” Daniel Buttigieg, Head of Business Development for Apcopay said that ‘the amalgamation of elegro’s product suite within Apcopay’s unified integration stack will translate into higher conversion rates for our merchants in need of an additional chargeback-free payment method. We do believe that the partnership with elegro will bring about a simplified user and merchant experience to crypto acceptance in non-tech laden environments. We are proud to partner with elegro and roll out a myriad of solutions aimed to streamline the whole process and offer more value.”
