A crypto-focused e-commerce company now allows customers to pay for daily products in three interest-free payments using digital assets.
“Buy now, pay later” systems have grown in popularity among consumers looking for a little more flexibility when purchasing online — and now, one start up is applying this concept to cryptocurrency.
Uquid’s Pay in 3 feature does exactly what it says it does: it divides bitcoin payments for everyday goods into three instalments. This implies that customers have 90 days to pay off their balances in full and will not be charged interest.
According to the DeFi-focused company, this strategy has a number of advantages. This not only ensures that payments are timed to coincide with swings in the value of a cryptocurrency, but it also allows consumers to acquire a credit line quickly. Users can also pay their bills early without suffering a penalty.
Thrilling partnerships
Uquid’s declared purpose is to provide a “Web 3.0 retail experience” in which cryptocurrency plays a prominent part in transactions. This can include staking, mining, and even acquiring tokens through merchant airdrops.
The project, which debuted in 2016, has now teamed with Binance Pay, a platform created by one of the world’s largest exchanges. It supports more than 40 digital currencies and allows users to pay friends and relatives with cryptocurrency as well as receive payments from others. Merchants can also join Binance Pay in order to reach a broader range of customers.
According to Uquid, its offering has never been more vital, with research indicating that 2.14 billion individuals were expected to purchase products and services by 2021, a figure worsened by the coronavirus epidemic. The e-commerce platform now has over two million tangible products ranging from fashion to jewellery and watches, appliances to Christmas decorations, groceries to entertainment, and so on.
The site seeks to give a fast, safe experience — and card payments are accepted for individuals who are still learning how cryptocurrencies work.
Learning about Uquid
Uquid is a borderless shopping solution for foreign customers. More than 1,000 operators from over 150 countries are supported by the digital platform. In addition, it includes approximately 70,000 digital products.
Cross-border payments enable transactions to be performed significantly more quickly than in the currency world, all while incurring lesser expenses. This not only allows buyers to save money, but it also protects businesses’ razor-thin profit margins.
Looking ahead, the e-commerce platform is committed to continuing to innovate. Uquid is currently focused on bringing shopping to the metaverse, giving it a head start as firms like Facebook, Nike, and Adidas explore virtual worlds like never before. The metaverse has the potential to change the way we buy goods online by allowing us to visually check a product from the comfort of our own homes rather than relying on extensive, inaccurate product descriptions.
This pursuit of cutting-edge innovations has not come at the expense of providing consumers with something familiar. Clunky loyalty schemes have given way to intuitive rewards whenever a purchase is made using decentralised finance. When fiat is required, Uquid Visa cards can be used to withdraw cryptocurrency from millions of ATMs worldwide.
With El Salvador becoming the first country in the world to accept Bitcoin as legal cash — and as public knowledge of cryptocurrencies grows — digital assets will become increasingly important in the world of e-commerce. With five years of experience, Uquid makes it simple for businesses and buyers alike to discover what all the excitement is about… and had a pleasant experience.
