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Payment Industry

The payment industry presents one of the major businesses fields of financial institutions. In effect, payments are not only a lucrative source of revenues, but they are the anchor product for various other services and, furthermore, a critical element in terms of customer data.

For banks, payment information is a source of knowledge about a customer and further, is an opportunity to generate points of reference to integrate business processes into the processes of their customers.

Globally, the emergence of smartphones has allowed new players, such as large technology and telecommunication enterprises, entering the market. Furthermore, numerous companies from the fin techs arena (start-up companies in the financial services sector relying heavily on IT) have emerged.

Any further attempt to make the current payment infrastructure absolute or to pull away payment transactions from banks and other financial institutions strongly contributes to deteriorating their BMs.

In this regard, blockchain technology represents a fearful threat, especially since it might switch off the third-party function of financial institutions in payments. At the same time, however, the reduction of costs that could be realized by the use of blockchain in payments induces financial institutions to closely look at its development.

This promising potential of blockchain technology has roused large attention at existing payment infrastructure operators. Enterprises from both technology as well as the financial services sector are considering and launching prototypes of blockchain- based solutions.

Large banks have started to participate in worldwide collaborations (e.g., R3, among them Citibank, Credit Suisse, Deutsche Bank), and almost all major consultancies as well as auditing firms offer their expertise and try to position themselves as the leading knowledge carriers.

FavorPay

Cryptocurrency Payment Gateway Development

FavorPay

The crypto sphere is progressing by leaps and bounds and giving us a chance to embrace a new method of making our assets safer. With this groundbreaking solution, we are able to manage high volume transactions at a very low cost.

Because of this, we are seeing the growing adoption of cryptocurrency payment gateway development around the globe. It is opening up new avenues of operations for us and giving us better dimensions in which we can expand our business. It gives us numerous benefits while keeping the pace of growth very steady and reliable.

There are many reliable cryptocurrency payment gateways development companies that help you create your own payment gateway.

By using these means, they can totally eradicate the third parties that extend the time of transactions and enhance their cost as well. As the usage of crypto is increasing, the need for different tools for facilitating the payments is also growing.

FavorPay - Crypto Payment Gateway

Accept Crypto and get paid in Crypto or FIAT!

No recurring fees or hidden charges.

Real-time exchange rates.

Secure checkout.

Sandbox available: a testing account can be requested.

No setup fees

FavorPay

How FavorPay Gateway Work?

favorpay

Methods of deposit and withdrawal are advanced.

Security of wallet is ensured with two-step verification.

Funds are always exchanged at the current market rates.

Supports all the major fiat currencies such as USD.

Transfer of coins can be done 24/7 instantly and worldwide.

Customers support team works 24/7 giving prompt answers and resolutions It does a great job of maximizing profits and minimizing risks in the trade.

FavorPay - Why us?

Low fees and simple pricing

Our service offers the lowest fee possible. We charge you the fees per transaction and present you a detailed invoice for all operations at the end of each calendar month.

Fast and easy to use

The integration of FavorPay with your business is easy and quick. Thanks to intuitive panel you will not have a problem setting everything up to start receiving payments in crypto from your clients.

Exchange coins to fiats

Do you want to receive fiat currency (EUR, USD, etc.) when your customers make the payment in a cryptocurrency? We give you that possibility.

Unlimited withdrawal

You can withdraw your cryptocurrencies anytime you want. We do not freeze your funds and we do not limit the number of withdrawals.

Secure

FavorPay provides complete safety of every transaction for the customer as well as for the merchant. With us, you have full control over your funds!.

Easy integration

Enjoy a single quick and easy integration to access all of our markets.

No KYC

FavorPay is a tool designed for the international market. According to regulations, we do not require from companies KYC and AML procedures.

Robust reporting

Access your payment records anytime, with extensive info and updates by the minute.

FavorPay for your Business

FavorPay