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B2B Vault Episode 32: Crypto and International Payments

Written by Allen Kopelman

December 20, 2021

merchant statement analysis

Video Transcription

Hi, this is Allen from B2B Vault – The Payment Technology Podcast, bringing you another episode. Today we’re going to talk about Cryptocurrency and international payments. So I was recently contacted by a global group that promotes doing international business in South Florida. They saw the podcast about Cryptocurrency, and they asked if people could use Cryptocurrency for international payments? Because that’s what our group does. It’s an international global chamber of commerce. So I said, yeah, we, it works for that. So I told them I would make a video about it and send it to them. And we’re going to promote it to their group to help them with international payments.

So, you know, like always talk about crypto and the ways of, in the US, a lot of people look at crypto as an investment vehicle to invest, grow, and grow your money. Internationally. Many people have been using crypto for the last couple of years to do business transactions and other types of transactions, especially business. So why is this good for international trends? One, it’s safe. So that’s good. It’s a safe, secure transaction. You send somebody an invoice. If you’re using our software, you send them an invoice. They get the invoice, and they click on it. It generates a blockchain long string of information. They put that into their wallet, and boom, they send you over the Cryptocurrency, which is in dollar equivalent. And that’s important because, you know, when you’re sending a wire from one country to another country, you’re dealing with wire transfer fees on the customers. And on your end, you got a wire transfer fee. Then you’re dealing with currency exchange. So what’s their currency. And then what is the bank going to charge you?

Sometimes, you end up with 40, 50 bucks less, or it can be hundreds or even thousands of dollars left on currency exchange. It’s very, you know, you don’t, you’re telling them to send you 5,000 bucks, you know, are you going to get at the end, are you going to get $5,000 so that that’s, you know, very confusing, cause I’ve done business with people. They’re in Canada, or they were, you know, other places. And I was like, listen, you know, you guys got to figure out the dollar equivalent so we can get the correct amount of money. Otherwise, you can be short. So that’s another thing. And also the, you know, the banks charge fees for doing the currency exchange. So you have to make sure, oh, how much does your bank charge? Is it a flat fee, or is it a percentage? Every bank is different. So with crypto, you don’t have to worry about cross-border banking; send an email. And the person clicks, they pick their Cryptocurrency that wants to pay with Bitcoin, Bitcoin Cash, LiteCoin, Ethereum. They make them, and they make their payment. You get paid in crypto, and then it is converted to cash. And that cash is deposited into your bank account, which now you can use to pay for whatever it is that you’re selling for them.

Then the other thing with crypto is there are no chargebacks, you know? So you don’t have to worry about chargebacks. If you need to do a refund to a customer, you know, that’s between you and the customer and you handle it, you know how you would take any customer, you know, it’s easy to do. So you send the person an invoice. They’re in another country, click on it, and make their payment by connecting it to their wallet. You look in your dashboard and see wallah; you have received the crypto and the dollar equivalent, which is essential. So you don’t need to know about our program. You don’t need to know anything about crypto. You don’t need to know about buying crypto, selling crypto trading, crypto cashing, the crypto out, which has to be done infractions. You don’t need to know any of that. You want to sell something for $5,000. Someone wants to pay you with crypto. We’re relieving the whole, all the volatility. And you’re going to get $5,000 in your bank account.

Many people outside us are using crypto for business transactions. Um, people, you know, I talked about this about it’s an investment for some people in the United States, but still, listen. And it’s a great way to do business. People have crypto, and it’s another form of payment. As you know, do you have to be flexible in the form of payment that you take in your business? I talk about the consumerization of payments, the business world, and companies need to get on board with that. You know, do you accept credit cards? Do you carry checks? Do you accept ACH? Which are electronic chaps through having, uh, through having a payment portal. Are you flexible enough that you want to take Cryptocurrency from your customers? Our Program? You can be flexible because you don’t have to worry about, like, oh, what am I going to do with this crypto? Once I have it, we protect you from the volatility of that. Crypto is up. Crypto is down; does it matter? We do everything in dollar equivalent. So you want five grand. You’re going to get five grand. That’s how it works.

You can visit our website and PS bank.com/cryptocurrency. Get more information. You can sign up, and you can set up an appointment. You can get, you know, get a consultation from me, go to the meeting, calendar book. It’s straightforward. Get on the phone, get on the video conference and follow a B2B vault on all the famous places you can follow us: YouTube, Spotify, Google podcast, apple podcast. I RFI gas, Stitcher podcast, and visit our B2B vault.info website. For more information on the podcast and internationally, you’re doing business internationally. You want to get paid in a new way, Cryptocurrency. That’s the wave of the future for international transactions, B2B Vault Allen Kopelman signing off Carpe diem seize the day.

Merchant Statement Analysis | Merchant Services Statement Analysis
Merchant Statement Analysis | Merchant Services Statement Analysis
Merchant Statement Analysis | Merchant Services Statement Analysis

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