“The challenges to companies are only getting more intense as payment complexity increases as businesses become more global and add new payment methods”, asserts the venture capital firm, Andreessen Horowitz.
The movement of money is the lifeblood of any business, but the current state of payment operations shows that companies are struggling to make them simple, fast, and error-free.
According to new Harris Poll research, over 8 in 10 companies (84%)\face payment operations problems such as slow payments, payment failures, and data quality errors, while 61% say managing payments takes too long.
Among plenty of emerging use cases, cryptocurrency and blockchain technology aims to create a new and improved financial system for the world—one that’s secure, transparent, fast, cost-effective, and globally inclusive. Despite challenges with adoption, blockchain and cryptocurrencies are still the future.
Enter PEGFi Convergence
PEGFi CONVERGENCE – An Interoperable Interconnected Payments Infrastructure for P&E Blockchain gaming and the Metaverse at large
Traditional payment processors typically won’t directly facilitate NFT transactions. As a result, providers of these tokens must look at other options to avoid inconveniencing their customers. If a customer can’t purchase NFTs with their credit or debit card, it can dissuade them from participating in this new market.
Even in those cases where a payment processor will allow cryptocurrency purchases, the customer first has to purchase cryptocurrency, wait for that purchase to settle, then convert that crypto somehow to an NFT platform where they can finally buy NFTs. While the most dedicated purchasers may be willing to go through all these steps to buy NFTs, more casual customers may not be willing to do so. As a result, NFT platforms can better serve their customers by offering them crypto-native payment options that simplify the process of purchasing their products.
The PEGFi CONVERGENCE crypto-native traditionally inclusive payment infrastructure enables customers to transfer their funds to tokens and back out again (crypto to crypto/crypto to fiat/Blockchain to Blockchain/wrapped token in exchange for native tokens). By smoothing these on and off-ramps between tokens and traditional payment systems, a solution of this type provides a seamless payments infrastructure that facilitates customer acquisition and loyalty.
A Fintech driven Solution for P&E Guild Operators
P&E and Blockchain gaming ecosystems need to offer a payments infrastructure that provides their customers with a seamless, intuitive experience. PEG provides for this by enabling customers to easily deposit funds into their account, which they can then use to purchase tokens for NFTs without going through a series of unnecessary steps in the process. Ideally, they simply enter card details and then have money in their account at the P&E platform.
The PEGFi Convergence payment infrastructure offers both a pure-play fiat on and off-ramp for crypto purchases, as well as the ability to settle directly into a native PEG token account infrastructure and/or to swap wrapped or mined tokens across from other blockchains or guilds
PEGFi CONVERGENCE is a complete transactional infrastructure. This can be done all in one place with PEG acting as the provider of a single API integration and thus offering huge benefit to the other guilds and operators in this burgeoning P&E Blockchain gaming and overall Metaverse stratosphere.
Offering Seamless NFT Transactions
Using PEGFi’s proprietary payments functionality enables leverage not only to streamline and minimize the costs associated with the on-ramp/off-ramp functionalities of Web 3.0 operations but also to create and offer improvements to any employed stablecoin-native infrastructure.
The PEGFi CONVERGENCE solution allows for the integration and interoperability of not only the native PEG token but a diversity of other popular tokens to be swapped, transferred, or otherwise utilized within the payments infrastructure then allowing for cryptocurrency, debit, or credit cards, or even Cash via OTP transactions to fund their wallet to then be able to purchase NFTs.