PayBolt vs legacy payment
PayBolt vs. Traditional payment systems
Cryptocurrency payments are rapidly accelerating as the world is witnessing a once-in-a-generation shift in the ﬁnancial services industry as the blockchain revolution is disrupting the sector with a rapid move towards decentralized, technology-driven systems.
First of all, why is it worth considering payment using PayBolt in your business?
The reason is simple, legacy payment systems leave a lot to be desired.
The current legacy payments MDRs are as below:
● PayPal: (2.9%) + 0.30$
● Visa: (1.4-2.5%)
● Mastercard: (1.5-2.6%)
● American Express: (2.5-3.5%)
● Afterpay: (4-6%) + 0.30$
This means, for a typical Australian cafe that has a turnover of $500,000.00, the merchant would pay anywhere from $7000-$17,500 a year to legacy payment systems. If you happen to be a merchant accepting Afterpay - you can look at up to $30,000.00 of your hard-earned money going to a third party.
What aggravates it, depending on the payment system, there could also be delays on when the merchant is able to access funds (although most will pay out the day after those days).