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As a business owner, you should already be aware that taking your business online can definitely create more opportunities for you, not merely on a domestic level but rather on a global scale. But with the opportunities, it always comes with some risk as well. This risk for your business and customers is in the form of data theft and online fraud that has been on the rise in the recent past. If you are using an online payment provider in Vietnam, there are certain steps you can take to protect your business when accepting online payments from your customers. Below are some tips that you can implement into your business. 1. Security compliance certificate: If your business is PCI compliance certified, this guarantees a minimum set of security measures required by major banks to accept debit and credit card payments. Therefore, this first step is a very important step to have in place before you set up your online payment gateway in the Philippines, Vietnam, or elsewhere in South East Asia. It can help your business meet the security expectations of the online business industry. 2. Encrypting data during transmission: Data theft typically occurs when data is in transit from one server to another as this is the most vulnerable point. The payment gateway you use should encrypt data while you receive it and also before you transmit any data to maintain the highest levels of security. This adds an extra layer of protection to your e-commerce platform. 3. Strong passwords: Hackers are experienced enough to guess simple passwords made using regular patterns. While using an online payment provider in Vietnam, insist on getting your customers to use more complex passwords, which are alpha, numerical and with special characters, while creating their account for the safety of their data. 4. Authentication at multiple levels: If all your customers need to log in to their account is a login id and password, it is quite possible to steal this information and access an account unauthorized. This is where multi-factor authentication through accessing a different device to complete the login process can protect the user and its account. 5. Storing data using the cloud: There is always a risk of liability when storing customer data at your business location. It is better for your business to use a cloud storage facility that is specialized in protecting data with maximum security features in place. In case of a breach, these cloud storage facilities are well prepared to handle the situation. Use these pointers while setting up your online payment gateway in the Philippines and Vietnam. You can protect your business while continuing to grow and expand globally while reducing risk.
The popularity of cryptocurrency is on the rise every year. Individuals and companies are getting more and more involved in trading with cryptocurrency. These alternative currencies are becoming an integral part of our lives, and people are choosing to use them differently. While some only buy cryptocurrencies for trading, others use them as a form of payment. Businesses can benefit from this alternate payment method by taking advantage of the increase in the exchange rate. However, to get the best out of this, they have to find the right cryptocurrency payment gateway. Process of Crypto Transactions Cryptocurrency is not a physical currency and exists only in digital form. In simple terms, if a person wants to transfer cryptocurrency to someone else, it is simple. You will need to have access to the private key and public key associated with that value of cryptocurrency. Having cryptocurrency means that a person is accessible to a key-pair consisting of a public key (to which some amount of cryptocurrency was previously sent) and the corresponding unique private key (which authorizes the cryptocurrency previously sent to the above public key to be sent elsewhere). It is important that the private key is not shared with anybody. If John wants to send crypto to Mary, he uses his private key to sign a message with the transaction-specific details. This message will contain an input (the source transaction of the crypto previously sent to John's address), amount, and output (Mary's public address). Important Things for Your Business’ Safety For companies with customers from around the world, using a crypto payment gateway to process cryptocurrency has become a way to avoid bank transaction fees and long processing time, as well as the added task of converting from different currencies. To start off, you need a crypto wallet. Crypto wallets come with private keys or a secret number that allows the holder to access their crypto. You can also get a 'hardware wallet,' which requires you to either write down your key or keep them on a hard drive so that you don’t have to store them online. Companies are also known to sign up with a crypto exchange that stores keys on a third-party server. Get the Right Payment Gateway To get the right cryptocurrency payment gateway for your business, the quality is determined by what features you need. They should be able to accept major digital currencies for online and offline payments. They should facilitate instant locking in of rate to minimize risk to the business. Withdrawal of funds should be made available in less than a business day. Vendor or supplier payments should be supported in most of the countries in the world to facilitate international transactions. The crypto payment gateway should also integrate the API seamlessly in the checkout page. The business portal should provide real-time balance checking. You should have access to the history of transactions. The payment gateway should offer digital and fiat currency conversion. As the cryptocurrency market size grows every year, there is an increasing need for cryptocurrency exchanges. Only a decade ago, stock trading took precedence. But these days, people do trading using cryptocurrency, taking advantage of its price fluctuation. Crypto trading is carried out by professionals and crypto enthusiasts. For this reason, business owners need to embrace this technology and offer a safe and intuitive platform to trade crypto. It is only a matter of time before this technology gains widespread usage. But as a business owner, it is better to safeguard your business and be prepared to accept this form of payment to be ahead in the race.
Cryptocurrencies are more than just a fad. They let you purchase goods and services. They can also be used to trade for profits. For businesses, using a reliable cryptocurrency payment gateway is a fast and secure mode of receiving and making payments online. It is a cost-effective payment method that is very convenient when compared with traditional payment methods. What Is Cryptocurrency? A cryptocurrency or ‘crypto’ is a digital currency. It can be used to make online purchases but uses an online ledger with strong cryptography to ensure that online transactions are secure. This also helps control the minting of coins and also helps verify coin ownership transfer from one person to another. It is a digital or virtual form of currency that is implemented using decentralized control. Why Do You Need a Cryptocurrency Payment Gateway? Cryptocurrency is slowly but steadily making inroads into primary business platforms where money frequently exchanges hands. However, many businesses are wary of incorporating cryptocurrency as one of their main payment options. If business owners understand how crypto payment gateways work, they will be more forthcoming. Anything that facilitates quicker, more reliable, secure, and efficient payments will remain the top priority. This is exactly where cryptocurrency payment gateway providers come in to offer a strategic solution. This technology reduces the dependency on human involvement and allows for the addition of multiple security layers. How is Crypto Different from Traditional Payment? For local transactions, accepting traditional forms of payment may not be much different from accepting cryptocurrency. However, when it comes to international transactions, there are many problems that arise primarily due to the number of intermediaries required to go through the transactions. This significantly increases transaction time and the safety of the entire process. With crypto, because it is a decentralized gateway, it facilitates transactions with more accuracy. Business owners can be for sure that the process is safe with zero chance of losing their money. As there are no intermediaries, the transaction process is quick and precise. With crypto, all transaction details are saved online and can be retrieved on demand. Advantages of Cryptocurrency Payments Have you ever thought of taking your business global? If you accept cryptocurrency through a cryptocurrency payment gateway, your business will automatically have a global reach, and you can accept payments from customers located anywhere in the world. A reputed cryptocurrency payment gateway will be able to reduce scams and chargebacks. The transaction fees are also minimal when compared with traditional payment options. The absence of third parties in processing transactions leads to quicker and more secure payments. In the long term, this will be very good for your business as you can maintain your own asset reserve without the involvement of a third party. Things To Consider While Selecting a Crypto Gateway As a business owner, it is very important that if you are accepting cryptocurrency, you need to choose the right crypto payment gateway. The gateway service provider should provide a safe and secure gateway that is highly reliable. The user and transaction information should be efficiently protected at all times. The gateway should enable an exchange of all types of cryptocurrencies. A 2-factor authentication system should be in place before payment transactions are completed to ensure maximum security. In case of any technical issues or glitches, there should be a 24/7 support system in place to assist customers around the world. Customer service support executives should be able to communicate in multiple languages so that they will be able to serve various customers. Crypto payment gateways are the future of business. If you want to start accepting cryptocurrencies, get in touch with a reputed payment processing firm in the industry.
Cryptocurrency technology was introduced in 2009 post which it became a sought-after mode of transaction. Thus, business owners had to find service providers that enabled them to accept payments via cryptocurrencies. But as is the case with any form of transactions, owners were skeptical about the security of cryptocurrency transactions as well. However, this form of payment proved to be more secure than several other online payment methods. Depending on the technology, it is segregated into public and private. Public network technology allows several individuals to join in while keeping them anonymous. Private network technology on the other hand, uses identity confirmation for membership and privileges. Read on to know how crypto payment gateways provide secure transactions. Through Blockchain Technology Blockchain technology has been the backbone of cryptocurrency payment gateways ever since its introduction. The technology produces a structure of data along with inherent security qualities. This technology is also known as DLT which translates to Distributed Ledger Technologies. The process involves data being structured into blocks where each blocks contains one or a bundle of transactions. Every fresh block is connected to the other blocks before it in a cryptographic chain, making it tough to tamper with. The transactions within each block are agreed upon by a consensus mechanism and validate to confirm its authenticity. Through Cryptography Technology Another mode of security used by crypto payment gateways is cryptography. This technology enables two or more individuals to send and receive secure messages. These messages are encrypted in a key and algorithm that can be decrypted only by the receiver. Encryption keys play an essential role in securing the messages, valued data and transactions between two individuals that cannot be read or enable access to an unauthorized entity. It therefore secures your transactions from fraudulent attacks. Through Asymmetric Technology Asymmetric cryptography technology is amongst the most recent introductions for cryptocurrency payment gateway security systems. This technology uses two keys namely the public and the private keys for data encryption and decryption. While the public key allows easy dissemination of information like the address of the fund receiver, private key remains known to the owner exclusively. Thus, in this method the customer can encrypt a transaction using your public key, however, only you will be able to decrypt it via your private key. It, therefore, helps with authentication with the public key that verifies how genuine the sender is. The private key on the other hand, decrypts the encryption by the paired key. Through Symmetric Technology This is a single key technology used by cryptocurrencies payment gateways to secure transactions. It uses a single key to encrypt source messages, transmit it to the recipient and decrypt it at the destination. The transactions can be decrypted only by the technology that receives the transactions. Therefore, any malicious third party would be unable to decrypt and have access to the transaction without knowing the method of decryption. It is an enhanced security technology which includes several complex variations to provide optimum security to your business. It requires minimal operational overhead with a simple implementation process. Through Smart Contract Technology Smart Contract Technology is an innovative technology used by crypto payment gateways for securing transactions on a global level. It requires two parties agreeing to form a computer code. This code is then run on a blockchain and stored in the public database. This code cannot be changed or tampered with thereafter. The transactions then take place between these two parties without allowing access to any third party. As there is no inclusion of a third party, you get to save a significant brokerage amount as well!
With the world going almost completely digital in view of the pandemic, cryptocurrency has become a hit! Thus, several platforms including giants like McDonalds and KFC have started accepting cryptocurrency. Crypto payment gateways have therefore, become a global norm. Crypto payment gateway is a platform for online transactions. This platform provides access to businesses to accept payments in cryptocurrencies. The transactions merely require a digital wallet instead of credit card payments. These wallets differ between single currency and multi-currency. You can convert your cryptocurrency into fiat money at any time. Read on to know the why you need crypto payment gateways. It Provides Security Certain cryptocurrencies are based on blockchain, decentralized, a distributed and digital ledger technologies. These transactions are permanent and therefore, they cannot be modified or deleted. It is essential to choose a payment gateway that offers additional security measures. Your cryptocurrency payment gateway should offer services like PCI compliance and implement an SSL protocol. A solid crypto gateway ensures that the blockchain finances are secure by application of holding, receiving and spending the cryptocurrencies. A good crypto gateway will shield you from fraudulent activities and leaked data. It Provides a Broad Market Digital payments can sometimes be a tedious task. But certain crypto payment gateways allow acceptance of several currencies. This widens the scope of your market. Tech-savvy individuals have created a community in the cryptocurrency market. The transactions are considered seamless as it not just allows creation of a digital wallet but even allows connecting to your existing wallet. Cryptocurrency further allows your business to attract customers from the global market. International shoppers get access to your products with the ease of making payments with their native currencies. It Provides Confidentiality Cryptocurrency is built on a blockchain technology. This technology records transactions into blocks and time stamps. This results in a digital ledger of cryptocurrency transactions thus, preventing hackers from tampering with your payments. Cryptocurrency payment gateways prefer this mode of payment as it is complex and technical. The process involves a two-fold authentication process. The first step requires personal authentication that includes your username and password. It then generates an authentication code which confirms your identity. So, once the transaction is complete, it is difficult to reverse it unless the merchant consents. Retailers thus have a better protection against ecommerce frauds with cryptocurrency gateways. It Negates the Middleman Middleman is usually a term associated with the banks that are a part of the digital payment process. Blockchain technology used in crypto payments negates the need of this middleman. Non-involvement of the middleman eliminates the remittance charges that you have to pay. Remittance charges are defined as the service fees that are paid to those third parties. The transactions are completed once their services are meted out. Thus, this fee is considered as their compensation and the amount is determined on the basis of the payment amount. Thus, choosing crypto payment gateways helps you gain a better profit margin for your business. It Provides Financial Inclusion Cryptocurrency has been touted as the best mode of payment for the current generation. Individuals these days are drawn to businesses that are tech-savvy and updated with digital payment methods. Several people do not have access to the formal means of payment. Thus, if your business accepts cryptocurrencies then it provides them an alleyway to be included in the digital market and explore your store. Cryptocurrency payment gateways further enable you to include a variety of customers with simple bypassing and sans the tedious digital payment processes. Now all you have got to do is Go Crypto!
Cryptocurrencies have grown in popularity over the last several years, and the number continues to rise. As a result, there has been an increase in demand for blockchain developers. Whether you are interested in a career as a blockchain developer or just want to keep up with the latest technology developments, let us look at a few of the benefits of cryptocurrency. Protection from Inflation Inflation has caused the value of several currencies to depreciate over time. Almost every payment done through a cryptocurrency payment gateway is introduced with a predetermined amount at the moment of its inception. The amount of any coin is specified in the source code; for example, there are only 21 million Bitcoins available in the globe. Therefore, as demand rises, its value rises as well, keeping pace with the market and preventing inflation in the long run. Self-Governed and Managed The governance and upkeep of a currency is critical to its growth. Developers or miners are rewarded with a transaction fee for storing Bitcoin transactions on their hardware. Since the miners are compensated for their work, they keep transaction records accurate and up to date, ensuring that the cryptocurrency payment gateway works with integrity and decentralized records. Secure and Private The privacy and security of a crypto payment gateway has always been a key worry. The blockchain ledger is made up of a series of difficult-to-solve mathematical riddles. Thereby, making bitcoin transactions more secure than regular electronic transactions. A crypto payment gateway employs pseudonyms that are unrelated to any user, account, or recorded data that may be linked to a profile for improved security and privacy. Currency Exchanges can be Done Easily Most currencies across the world can be used to purchase cryptocurrencies. It is possible to convert one currency into another via trading in cryptocurrencies using various wallets and exchanges and with minimum transaction fees. Decentralized One of the main advantages of cryptocurrencies is that it is largely decentralized. Many cryptocurrencies are controlled by the developers who use them, or those who own a considerable number of coins, or by a company that develops them before they are launched into the market. Unlike fiat currencies, which are controlled by the government, decentralization helps keep the currency monopoly free and in check so that no single organization can dictate the flow and value of the coin. This, in turn, keeps it stable and secure. Cost-Effective Mode of Transaction Sending money across borders is one of the most common uses of cryptocurrencies via the cryptocurrency payment gateway. The transaction fees paid by a user are decreased to a negligible or nil amounts with the help of bitcoin. It does it by removing the requirement for third-party verification. This eliminates the need for any further transaction costs. Transfer Funds Quickly Cryptocurrencies have always maintained their position as the best option for transactions. Cryptocurrency transactions through a cryptocurrency payment gateway, whether international or domestic, are lightning fast. This is due to the fact that the verification takes extremely little time to complete because there are very few barriers to overcome. Even if the current generation of cryptocurrencies loses their currency status, the social and financial concepts they introduced to the mainstream market will not be forgotten anytime soon. In terms of future societal and financial use, the benefits listed above are just the tip of the digital iceberg. Take advantage of the more technical advantages of value stores, smart contracts, and other crypto tools. They will undoubtedly play a significant role in people's lives in the near future. The more you learn about what crypto can actually achieve today, the better off you will be tomorrow.
We are glad to announce we are having a billboard display at Causeway Bay SOGO, the largest LED panel in APAC. Welcome to take a snap when you are in Causeway Bay! Also new version of ads at 67 Argyle Street rolled out: https://youtu.be/a5qsB7WN0Zc We will offer a special package for merchants during $5000 consumption vouchers periods. Our payment solution supports Mastercard, AlipayHK, WeChatPayHK and UnionPay Mobile QuickPass and QR code in one POS terminal. If you are seeking payment solutions, please feel free to reach out to us for more details!
Bitcoin is the most widely used crypto payment gateway on the planet, and no other payment services come close to matching it at present. It is regarded to be one of the safest ways to send money; moreover, it provides some of the most secure money on the internet. With caution, you would be able to perform quick and easy internet transactions without ever disclosing any important information that could be linked to the Bitcoin account or wallet. Many businesses have opted to take advantage of Bitcoin and accept it as a means of payment, allowing you to pay for various goods and services using Bitcoin and other types of cryptocurrency payment gateway. You can now easily go to your local coffee shop or make a significant purchase with your Bitcoin, thanks to this remarkable new payment service, which has drastically revolutionized the lives of many people. If you have ever been confused about how Bitcoin payments work or had any questions concerning the payment services, this article will provide you with all of the answers. What is a Bitcoin Payment Service? Individuals and businesses can use Bitcoin merchant services or a cryptocurrency payment gateway to receive payments for their goods and services, just like they would with a debit or credit card. A crypto payment gateway cuts out the middleman, removing any potential security flaws. Transactions are cheaper and more efficient with direct P2P payments. How do Bitcoin Transactions Work? Each Bitcoin transaction is associated with three strings: the private key, the public key, and the Bitcoin address. All transactions must be validated using the private key. The transaction signature associated with the private key is verified using the public key. Finally, the Bitcoin address decides the destination of transfers. Your wallet will create a Bitcoin transaction file that will be broadcasted to the Bitcoin network through the block chain if you want to send Bitcoins. The previous transaction, the public key, the destination address, the amount to be sent, and a digital signature will all be included in a transaction. The Bitcoin network verifies the legitimacy of transactions by validating both the private and public keys to ensure that the transaction has not been tampered with. The network will approve the transaction if both keys match the receiving address. What is Bitcoin Mining? The process of adding transaction records to Bitcoin's running public ledger which is the block chain of past transactions is known as bitcoin mining. This is done to verify that all Bitcoin trades are legitimate by confirming that they are all valid and safe. While more businesses are getting into Bitcoin mining, much of it is done by computers using specialized chips called application-specific integrated circuits, which are significantly more powerful than standard central processing units. Why accept Bitcoins on Your eCommerce Store? Any online store owner should consider opting for a crypto payment gateway. Apparently, there are over 30 million Bitcoin wallets and over 7 million active users online. This may not accurately reflect the majority of internet users but acts as a proof that there is a market of millions of people out there. They are constantly on the lookout for shops that can meet their wants, and their digital wallets are ready to accept anyone who accepts their unique money. What are the Advantages? Bitcoin payments are much less expensive than traditional means of payment, such as credit card payments, because of low transaction fees. In addition, Bitcoin enables for relatively secure transactions as well as a borderless payment network. Thus, proving that it is a fantastic form of payment.
All payment processing solutions do not provide you with the same capabilities and opportunities. Some partners will limit the potential for clients that you can bring on through your onboarding process. This will, in turn, limit your business potential by stopping you from working with some successful strategic accounts. Working with the right acquiring partner who can give you the most opportunity can push your payment solutions processing to the next level. Who are Acquiring Partners? Companies need to partner with an acquiring bank to achieve their goals. They assume that if they own or license some payment solutions software or payment gateway software product, they will be able to process credit and debit card payments. However, companies will require merchant accounts and some entity to underwrite them. A payment gateway is only one aspect of the payment process. An acquiring partner is a bank or financial institution that processes credit or debit card payments on behalf of a merchant. An acquiring partner underwrites merchant accounts. Merchant accounts are virtual accounts linked to physical bank accounts. Transactions processed through a merchant account are settled into a physical bank account which is associated with the respective merchant account. A regular bank account can be opened by any bank, but a merchant account needs to be opened through an acquiring bank which is now the acquiring partner. Add Strategic Accounts Some acquiring partners follow a risk-averse approach in the way they conduct their business. Unfortunately, this may keep some lucrative businesses from working with you. To be a successful online payment gateway in Indonesia, look for acquiring partners who are willing to think outside the box to help you accept and onboard new merchants in historically difficult to place markets such as online pharmacy, timeshare relief, document preparation, consulting, online firearms and personal protective equipment among others. These are legitimate businesses that need to be able to process sales. If you are able to work with the top merchants in these avenues, you have an excellent opportunity to grow exponentially. It is only with the help of the right acquiring partner that you can successfully get there. Improve Revenues There are independent sales organizations that might prefer working exclusively with traditional merchant accounts. While that may suit some organizations, the revenue opportunity is large enough that it should not be ignored. Strategic accounts are known to generate higher fees per transaction, and many are building powerful businesses in growing areas. The right acquiring partner will look far beyond the industry-level analysis and will go much further to assess the value of the individual merchant. Finding the right merchants to be onboard can create lucrative revenue streams for your organization. Onboard Quickly By having a stronger acquiring partner, you will be able to do more than just sign new merchants. A strong platform with experienced banks ready to accept strategic accounts will give you the advantage of time too. Having excellent acquiring partners will provide you with a chance to run your risk analysis and onboard new merchants more quickly and efficiently with fewer faulty decisions. You can accept payments quicker, and you can generate your fees also much sooner as a result of this. Another important thing to consider is that you diminish your risk of losing revenue to a competitor who can move on the merchant application. Payment processing partners are widely available, but not all are equipped with the right acquiring partners in place to help you reach your true potential. If you are keen to be Indonesia’s leading payment gateway, do not settle for someone who can do no more than help you be average. Work with the top acquiring partner to take your business to the next level.