Low-cost merchant acquisition is a prerequisite

The adoption of new digital payment channels depends on whether merchants can afford to acquire and use the latest technologies. If the merchant hardware is expensive, adoption rates are low. If merchant fee structures are opaque or excessively high, adoption rates are low.

For example, e-wallets are only useful if the merchant supports contactless card payments. But contactless NFC terminals and credit card fee structures are expensive, which severely restricts the number of merchants that can afford to accept contactless payments, especially in developing countries.

Bluechain-powered payment systems can be rolled out to merchants without the need for expensive POS hardware. The payment and POS app can be installed on a merchant’s existing smartphone or tablet, including most modern Android and iOS devices. The app is also easy to use, ensuring it is accessible to merchants with limited financial literacy. And fees are kept low by removing the most common causes (and costs) of fraud.

Bluechain drives up domestic transaction volumes by adding new digital channels and facilitating low-cost merchant acquisition.