While traditional payment methods have served businesses well for many years, the rise of crypto payment rails has introduced a new, more efficient and secure way of making cross-border payments.
Pairing the two worlds together is the sweet spot businesses should be looking to achieve, enabling them to benefit from the widespread acceptance and regulatory compliance of traditional payment methods as well as the speed, cost-effectiveness and security of crypto payment rails.
At Orbital we offer a broad range of traditional payment schemes and also crypto payment rails. Opting for a partner who delivers on both is much more convenient as businesses can manage all their cross-border payment needs in one place, reducing the need to switch between multiple providers, and they can use the expertise of a partner who is highly knowledgeable in both areas.
Here’s why merging traditional and crypto payment rails is the best way to maximise cross-border payments success:
- Wide acceptance: Traditional payment schemes like SEPA Credit Transfer, SEPA Instant, Faster Payments, SWIFT, Fedwire etc. are widely accepted and trusted, making it easier for businesses to make cross-border payments to a large number of countries and organisations.
- Compliance with regulations: SEPA and other traditional payment schemes comply with local regulations and banking laws, providing businesses with added security and peace of mind.
- Speed and cost-effectiveness: Crypto payment rails can offer faster and more cost-effective cross-border payments compared to traditional methods. These payment rails often bypass traditional banking systems, reducing the number of intermediaries involved and reducing transaction fees.
- Security: Crypto payment rails use encryption and other security measures to protect the privacy and security of transactions. This can be particularly important for businesses making cross-border payments in countries where fraud and other security threats are more common.
- Increased flexibility: By using a combination of traditional payment schemes and crypto payment rails, businesses can choose the most appropriate payment method for each transaction, depending on factors such as speed, cost, security and compliance with regulations.
SEPA payments is the latest addition to our range of payment schemes, which makes sending money within the Eurozone as easy as making your usual domestic bank transfers. Plus, customers can also use SEPA Instant, which means transactions happen at lightning speed. You can delve into more detail on our cross-border payments solutions alongside other alternative banking services here: www.getorbital.com/neobanking