There is already a massive amount of love and demand for digital payments. With an estimated 726 billion annual transactions forecasted by 2020, the stage is set for a mainstream-friendly crypto like SmartCash (Crypto: SMART) to achieve strong growth in merchant acceptance throughout the world.
SmartCash offers several advantages over conventional methods, but the amount that companies can save by adopting it as a payment option is likely enough motivation alone. Payment processing companies like First Data Corp (NYSE: FDC), Global Payments Inc. (NYSE: GPN) and Square Inc. (NYSE: SQ) are currently generating an incredible amount of revenue from processing credit and debit payments. But, this revenue is derived from processing fees that are cut directly from the profits of businesses. Although 2-4% of the sale may not seem like much for all the benefits of digital payments, it adds up quickly and easily exceeds $100,000 a year for every small-sized business that processes $5+ million annually at these seemingly low rates.
SmartCash’s User-Friendly Features
Of course, SmartCash’s features make them both worthy and capable of mass merchant adoption. It’s an unusually user-friendly crypto that everyday people would have no trouble using. Their username-based addresses are far less overwhelming than the lengthy, complex addresses of other cryptos, such as Bitcoin (Crypto: BTC). This makes it simpler to send money between wallets without having to worry so much about sending funds to the wrong address. Furthermore, their transaction fees cost less than 1/10th of a cent, so adopting this payment method is virtually free.
But, there is another far more important feature that must be included to ensure adoption for in-store transactions. This critical feature is rapid confirmation. Thanks to the 10,000+ SmartNodes, SmartCash has the main ground work laid to introduce InstantPay for confirming transactions in almost real time. Other cryptos can easily take more than 15 minutes to confirm a transaction. In fact, during peak times in January this year, Bitcoin confirmation took up to 2 days, which is simply unacceptable for nearly all business environments.
SmartCash’s soon-to-be-released SmartCard platform will further build upon these existing innovations to offer a revolutionary payment system designed to fix and improve upon the current limitations of conventional payment methods. The SmartCard will use a physical card for payments so users don’t need to install phone apps or wait for them to load while making a transaction. The merchant takes care of sending the transactions and can be setup to accept payments with just a smartphone.
The SmartCash Community Understands the Importance of Outreach
While the technology, features, and developers behind SmartCash make them a prime candidate for mass merchant adoption, it takes much more than this to successfully break through. As a matter of fact, outreach is regarded as the most important thing when it comes to achieving success. Companies often spend 4x the development costs, or more, on marketing — this is because they know that marketing/sales is the key ingredient to success.
The SmartCash community has already proven their willingness to take essential steps to market themselves effectively and has approved many different proposals to do so. Ensuring ongoing media coverage has also been integrated as a key part of outreach initiatives. Globally disseminated press releases, syndicated articles, journalist outreach and ongoing engagement strategies are being used to raise visibility among the mainstream audiences that must be involved for mass merchant adoption to be achieved. Combined with grass roots efforts, SmartCash is positioning itself to become a formidable force in the market.
A Self-Funded, Community-Led Crypto Motivated to Expand
Although the benefits of increased merchant adoption are well understood, the direction that SmartCash goes is up to the community — which is not true for most cryptos. This is because holders of SMART are able to decide which projects are supported with the resources of the self-funded community “treasury” of the SmartHive. This innovative model allows for continual development and outreach initiatives for SmartCash. Plus, since anyone who holds SMART can participate in the community governance, and because all community members stand to benefit from mass merchant adoption, this crypto has the communal support necessary to make mass merchant adoption a reality.
Despite being a relatively new crypto, SmartCash has expanded at an impressive rate. As just one example of recent success, their SmartBand payment method was recently adopted by roughly 2.5 million merchants in Brazil. Another great example is the successful Venezuela food drive. The community’s largest single project to date, this initiative was specifically created to educate the people of Venezuela about the advantages of SmartCash and how adopting this payment system would help solve the country’s rampant inflation issue. Activists orchestrated a successful marketing campaign and got the local media’s attention by providing hundreds of free meals for attendees of these educational seminars.
It will undoubtedly take a tremendous amount of capital, visibility and support for any crypto to achieve mass merchant adoption. However, SmartCash is focused on creating merchant tools that work the way merchants want, making transactions easier for the user, and establishing a fast network with low fees to make it all possible. In addition, with their self-funded model, advanced governance system, and proactive community, SmartCash has these necessities covered.
To view an interactive flipbook and learn how to engage with the community, visit http://smartcash.blockchainnewssource.com/flipbook/
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