Presented by Asia Broadband
We’re speeding directly toward a digital-first global economy, and payments need to keep pace. A recent study from Visa found that 82% of SMBs surveyed plan to accept a digital payment option in 2022 because 73% see that these new forms of payments are fundamental to business growth. Almost a quarter of them specifically identified cryptocurrency as a payment option of the future. On the other side, nearly half of consumers say they’ll be turning to digital payments more often in 2022.
This is happening as small businesses shift toward promoting their online channels in order to stay competitive — and the majority of respondents say they’ll be relying exclusively on digital payments, while 41% say that’ll be the next two years — and 18% are cashless already.
The global importance of digital payments
Turning to digital payments not only makes shopping cross-border easier than ever, but addresses the increasingly critical issue of financial inclusion. A staggering 1.7 billion adults have neither a traditional bank account or a spending account from a mobile money provider.
But 1.1 billion of those people have smartphones, and with cryptocurrency, they have increased access to secure ways to store and transfer value with the tap of a finger. One of the promises of cryptocurrency is democratizing access to investing, saving and spending. It has the power to transform economies, and is opening up opportunities for companies to expand their reach across the world.
The rise of crypto payment gateways
Diversifying digital payment options attracts more customers. Crypto payment gateways let customers pay for products and services with crypto at retail locations, using most social messenger platforms, email, SMS or QR code, and any online ecommerce platform. Funds are sent instantly with the tap of a button.
Companies like Asia Broadband are launching online payment processing solutions for crypto transactions. The PayAABB crypto payment gateway in particular can integrate with online shops so that merchants can get paid in their preferred digital asset, and customers can pay in the way that suits them best.
PayAABB, a plug-and-play solution for both B2B and B2C businesses, accepts both online and offline payments in over 400 digital coins. The platform is 99.95% secure, and protected with a SSL certificate, Google 2FA and Google Authenticator, as well as encrypted with other security features developed by AABB. Transactions are protected from customer chargebacks, and setup is quick and easy, and there are no merchant fees — but referral programs offer opportunities to earn on transactions at other merchants.
And while customers can pay in any of 400+ cryptocurrencies, businesses get paid in one coin in the AABB Wallet with automatic conversions using the AABB Exchange with automatic conversion and deposit.
Why gold-backed cryptocurrency is the horse to back
The market is volatile right now, and gold is historically a good bet for those kinds of fluctuations. When the market gets a little dicey, gold sales tend to boom since it’s an excellent strategic inflation hedge that tends to outperform particularly when the world is in flux. Investors generally recommend reducing the overall volatility and risk of investment portfolios by investing in gold, and gold-backed cryptocurrency is a smart way to jump into the digital world.
“Gold has proven its worth yet again in times of crisis, but a new level of maturity is taking hold in the crypto markets,” says Chris Torres, the president, CEO, COO and director at Asia Broadband, Inc. (OTCMKTS: AABB). “By bringing together the two through a unique offering that is only growing in scope by the month, Asia Broadband delivers investment opportunities that combine the best of both worlds.”
In March 2021, Asia Broadband, which sells precious and base metals to Asian markets, released its own mine-to-token gold-backed cryptocurrency, the AABB Gold Token (AABBG). The goal was to merge the stability of gold with the innovation of cryptocurrency and blockchain. It’s a hybrid-crypto with a price directly tied to $30 million of its own gold bullion.
That gold comes from its mines in Mexico and traditional third-party sources. The blockchain offers a cost-effective, safe way to store data, while gold contributes long-term stability which combats the traditionally high volatility of the crypto market.
AABBG saw $1M in investment in the first two weeks of launch. It currently has $100 million in assets, with a circulating supply of $5.4 million, and extensive experience in the precious metal industry, managing the entire production process from mining its physical holdings to its sales networks in Asia.
The consumer AABB app offers a wallet to purchase that token, as well as send and receive crypto, for a small fee. The app doesn’t collect personal data, and its security features ensure that transactions are 100% invisible to third parties. PayAABB, a payment gateway for merchants to accept crypto payments, is the next evolution in the digital payment ecosystem.
“We think PayAABB is the next gateway for crypto for more mainstream adoption, and especially in cross-border commerce, and it’s important both B2C and B2B companies become more aware of the opportunity,” Torres says.
Learn more here about the PayAABB gateway and how it increases business opportunities for merchants.
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