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Danny Allen

How To Accept Crypto Payments: Business Benefits [2024] - RelayPay

February 29, 2023
reading Time:
5 min

Can you accept crypto payments as a business? Yes! Including Bitcoin, Ethereum and stablecoins. Here’s how you to grow business.

1. What are the benefits of accepting crypto payments for my business?

The opportunity: Unlock new customers and revenue anywhere in the world. As crypto becomes more mainstream, there’s increasing demand from businesses and consumers to use digital currencies online to buy and sell goods and services.

Almost a quarter of Australians held digital assets in 2023, according to the annual survey conducted by YouGov and Swyftx, released in August 2023. That's the highest rate of cryptocurrency adoption among developed nations.

Growing demand: And 55% of Australians that own cryptocurrency have used digital assets to purchase goods and services – either at home or overseas, according to the same survey.

No wonder "Cryptocurrencies or blockchain-based digital payment solutions" are now among the top area of interest by Australian businesses, according to the recent Future of Digital Payments for Business in Australia Report produced by The University of Sydney Business School (USBS) and Stripe Payments, revealed at the Intersekt Fintech Festival in Melbourne late August 2023.

Almost half of Australian businesses are now accepting four or more payment methods.

These days, it’s good business to accept multiple payment methods — and accepting crypto is the next savvy step to reaching a whole new customer base. And there’s more to crypto payments than Bitcoin.

Globally, stablecoin digital currency transaction volumes outpaced both Mastercard and PayPal in the last couple of years. Customers can pay by Bitcoin, USDT (Tether), USDC, Ethereum, DAI, LINK, MATIC and more.

Accept (and send) crypto payments as a business. Get started at RelayPay For Business.

📅 Question? Email us or schedule a business intro call with our Sydney-based team.

🏆 RelayPay was named "Best Banking and Payments Innovation" in the 2023 Finder Innovation Awards and received a highly-commended recognition in the "Best innovation in digital currencies & Web3" category. 

⭐ RelayPay is rated Excellent (4.4 / 5 stars) on Trustpilot.

2. How can I set up my business to accept crypto payments? 

With RelayPay, your customers pay with cryptocurrency and you get paid in dollars. No need to touch crypto, juggle wallets or crypto compliance. What’s what makes us standout as a processor / gateway.

We’ve removed the obstacles for businesses to quickly get started accepting crypto payments. Your business can quickly start using RelayPay via a free payments page that we host customised with your logo. Perfect to link to on your website, FAQs and especially on invoice PDFs/emails.

We also have free e-commerce check-out plugs (accept crypto payments with WooCommerce / WordPress or Magento) and API integration options.

Left: Free custom hosted payment page. Right: Ecommerce check-out integrations.

3. Your customers don’t need a RelayPay account 

As a RelayPay merchant / business accepting crypto, your customers don’t need to be a RelayPay customer to easily pay you.

We employ Merkle Science transaction monitoring systems to detect and manage potential risks. This way RelayPay blocks any payment with illicit funds. 

Myth buster: There is no volatility risk or accounting problems with crypto payments.

With RelayPay, your customers pay in crypto and we lock the price for them. No matter what the price activity between their payments and your settlement, you don’t have any volatility risk, it’s taken care of by RelayPay and our exchange partners. As a merchant you still get paid in AUD at the end of the day like any other payment solution.

4. Fully regulated for Australia, ready for business

Another key difference: RelayPay is also Australian-owned and regulated. We’re an authorised representative of an Australian Financial License (AFSL) for Non-Cash Payments.

RelayPay is registered with AUSTRAC as a Digital Currency Exchange services provider and Independent Remittance Dealer.

And we’re a member of the Blockchain Australia and Australian FinTech associations.

5. Above average order values

RelayPay’s goal is to make accepting crypto payment a no-brainer accompaniment to traditional payment methods. And a growth tool to reach an increasing number of high net worth individuals and professionals now actively using stablecoins, Ethereum, Bitcoin and crypto to pay for goods and services.

Our growing list of partners include legal and accounting firms, venture funds, media and development agencies, prestige car dealers, high-end retail and more. One business alone has processed over $5 million in crypto transactions. You can also see RelayPay integrations in action on sites such as luxury fashion retailer and travel sites like Bali Bible or Concrete Playground Travel.

There’s strong alignment with crypto and premium brands. Some charities have even reported seeing crypto users embrace philanthropy with higher than usual donations.

6. No charge backs and other merchant pain points

Like other payment methods: you have the option to pass the merchant fee, competitive as it is, onto the customer. With added benefits of blockchain technology and digital payments: No charge backs, faster settlements, easy international payment.

Boost business with RelayPay:

No chargebacks: Cryptocurrency payments are fraud-proof as conversion to fiat will have already occurred. Separately, any refunds in fiat (e.g. AUD) form are handled by the merchant as store credit.

Fast processing: Receive daily settlements direct to designated bank accounts. Secure and reliable.

No price volatility risk: Convert payments with no exposure to price volatility or the underlying crypto asset.

Detailed reporting: Dashboard overview to manage and review historical transaction data with detailed reporting and CSV downloads

Competitive merchant fees: Inline with (and in some cases better than) other payment methods. Plus: No setup fees, no minimums.    

Accept crypto payments as a business. Get started at RelayPay For Business.

📅 Question? Email us or schedule a business intro call with our Sydney-based team.

RelayPay Best Payment Innovation Finder Award

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