Feeling Crypto-Ready? Get Started with LYOMERCHANT 

8 mins read
  • According to Brandessence Market Research, Global Crypto Payment Gateway Market is expected to grow with a CAGR of 22.8% over the forecast period.
  • Classic crypto payment gateways have limitations such as delay in a cross-border transaction, lack of automation and involvement of intermediaries.
  • LYOMERCHANT is a licensed, modern payment gateway that enables merchants to accept cryptocurrencies as payments.
  • Fast Pay is a LYOMERCHANT facility, where a merchant can enable a payer to perform a payment in crypto without the need of proceeding through the checkout process.

With the digital shift taking place worldwide and cryptocurrencies being recognized as mode of payment, it is now particularly important for payment gateways to step-up and keep evolving with time. 

In simple terms, a cryptocurrency payment gateway is a medium of payment for digital currencies, enabling merchants and vendors to accept digital payments in multiple cryptocurrencies immediately in exchange. For users, it facilitates direct payment of cryptocurrencies from one wallet to another. This gateway mechanism also offers the same level of security as in any other form of payment. 

According to Brandessence Market Research, Global Crypto Payment Gateway Market is expected to grow with a CAGR of 22.8% over the forecast period.

While there are many classic payment cryptocurrency gateways present at the moment, these come with major setbacks. Some of these limitations include delay in a cross-border transaction, lack of automation, involvement of intermediaries, and more. 

Keeping in mind the current need of the crypto industry, we created an innovative payment system to meet all your needs. 

LYOMERCHANT – A Modern Cryptocurrency Payment Gateway 

We believe payments should be seamless and borderless, which is why we came up with LYOMERCHANT.

LYOMERCHANT is a licensed, modern payment gateway that enables merchants to accept cryptocurrencies as payments. This supports the emergence of crypto-friendly businesses across the globe, and promotes mass adoption of cryptocurrency. With LYOMERCHANT, people can now adopt cryptocurrencies with ease and use it as their mode of payment on a daily basis. 

The process and payment flow is as simple as it can get:

  • Your customer is done with shopping and opts to pay with cryptocurrency at the checkout (in-store, on the web, or in-app).
  • They pay you an amount that is equal to the digital currency’s fair market value at the time of transaction.
  • LYOMERCHANT instantly converts your customer’s payment into the currency you choose.
  • The money is then added to your account with the provider. 

The process is transparent and enables fast and efficient cryptocurrency transactions with security. 

Why LYOMERCHANT?

We have designed LYOMERCHANT in such a way that it is easy, borderless, cheaper and faster for everyone. Some of the most important features that we have incorporated include:

  • Ready-to-work POS terminal with pre-installed app, built-in receipt printer, 2D scanner, and capability to accept contactless payments. The POS also supports the installation of applications in the POS terminal by the merchants, which will help them manage goods and services, as well as business intelligence from the same POS terminal.
  • Fast Pay is a LYOMERCHANT facility, where a merchant can enable a payer to perform a payment in crypto without the need of proceeding through the checkout process in payment gateway methods. 
  • LYOMERCHANT can generate invoices serving as the context for payment collection, against which users can proceed to pay in crypto.
  • As compared to the other cryptocurrency gateways that charge for risk fees and transaction fees, LYOMERCHANT charges just 1% fee on transaction amount value + Network fee making it relatively low at cost. 
  • Backed by blockchain security to make sure your crypto transactions are safe. 
  • No setup costs + free maintenance. 
  • Easy accessibility via phone, tablet, or computer. 

Benefits of Using LYOMERCHANT

  • No Chargebacks 

This feature of LYOMERCHANT appeals more to merchants and vendors. Once a crypto payment is processed and completed, there is no room for refund or a chargeback which means that the merchant will not be able to return that particular amount of money back to the customer. Additionally, this feature increases the security of the crypto transaction. 

  • Anonymity 

Privacy has always been a concern when it comes to crypto transactions. While centralized payment mechanisms ask you to register your details and go through the regulatory KYC/KYB processes, a decentralized system for crypto transactions does not involve registration or regulation processes which means users can maintain their privacy.

  • Instant Transactions

Because there are no intermediaries or third parties involved, crypto transactions are really rapid and can take place in less than ten seconds. This eases out beyond border transactions and helps merchants to receive cryptocurrencies instantly that they can then convert into fiat or actual currency whenever they wish to. 

How to Get Started with LYOMERCHANT?

LYOMERCHANT can be set up by all businesses independent of their scale of operations, whether operating as a one-person company, small and medium enterprises, corporates and institutions. 

For users:

  • Registration on portal.lyomerchant.com 
  • Submission of details and perform email verification
  • Generation of an API key
  • Study through the integration documents, and the merchant technical account manager can be in contact with the LYOMERCHANT tech team for guidance through the integration.

For merchants:

  • Users and vendors can sign up as merchants at: https://dashboard.portal.lyomerchant.com/register which will be followed by email verification.
  • Merchants will undergo an online KYC/KYB verification process.
  • On successful verification, unique live credentials for plugin and API integration will be generated.
  • The same live credentials can be inserted within the plugin settings or API integration, as per the setup that is performed.
  • Merchant is now ready to accept cryptocurrencies as payments. 

Summing Up

As cryptocurrencies become a part of your daily life, crypto payment gateways are expected to keep growing and evolving. With LYOMERCHANT, we empower people to use cryptocurrency as a mode of payment for anything and everything, giving everyone an equal opportunity to become an integral part of this digital movement of cryptocurrency mass adoption.

For more information on LYOMERCHANT and how to get started, visit: https://lyomerchant.com/

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