Gr4vy’s main product is a no-code payment orchestration platform (POP) that can allow merchants to both implement and offer BitPay’s crypto payment options without worrying about crypto risk, fear of chargebacks, and fraud or high transaction fees while continuing its global expansion.
According to latest research by Allied Market Research, the global cryptocurrency market size was valuated at around USD 1.5 billion in 2020 and is expected to reach close to USD 5 billion by 2030, which shows the continuous interest in alternative payment systems and stablecoins.
Most merchants already take into account the future of digital currencies as customers show an increase in interest, and 75% of them plan to accept crypto and stablecoins until 2024. Merchants who want to stay competitive in a harsh ecommerce market are looking into alternative and flexible payment methods to satisfy the needs of an increasing audience, and cryptocurrencies are on the rise.
Many merchants are also considering the latest Web3 strategy that allows them to offer and accept crypto payments in a faster, seamless matter, and Gr4vy’s solution can help with that.
The company’s CEO, John Lunn, claims that the designed cloud-native POP will make it easier and faster to implement innovative payment methods and the partnership with the trusted global cryptocurrency trading platform BitPay will help merchants benefit from the latest developments in the blockchain technology.
The collaboration between Gr4vy and BitPay aims to help merchants tap into the rich crypto market and accept payments in crypto. As part of the agreement, merchants who use Gr4vgy’s cloud-native POP can now instantly add BitPay to their payment methods without requiring additional coding. This allows them to accept payments through BitPay’s checkout in real-time in 15 supported cryptocurrencies, including popular Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), and Ethereum (ETH). Other supported cryptocurrencies are Litecoin (LTC), Shiba Inu (SHIB), Ripple (XRP), and Euro-backed stablecoin EUROC.
BitPay supports the biggest and most popular crypto wallets and its app, browser extension and card are compatible with Coinbase, Blockchain, Kraken, and Metamask, among others.
Finally, by integrating BitPay to their Gr4vy platform, merchants can accept payments and get settled within 24 hours in over 220 countries and territories around the globe, in local fiat currencies. Merchants won’t be asked to hold crypto, which diminishes the risk of fraud and hack attacks, with BitPay liaising the process for a flat 1% transaction fee.
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