Leading next generation cross border commerce, Flow, has announced the expansion of its international payment options to support cryptocurrency payment processing through BitPay, the pioneer and most experienced company in bitcoin and blockchain payments.
Flow is a global cross border e-Commerce platform that enables brands and retailers to sell their products to customers internationally by creating a localized shopping experience. BitPay, which securely processes cryptocurrencies such as Bitcoin and Bitcoin Cash, will join more than 60 different payment methods across 200 countries on Flow’s platform.
According to Rob Keve, Co-Founder and CEO of Flow they are constantly innovating and adapting their technology platform to enable retailers to provide a seamless and secure localized shopping experience for their customers anywhere in the world. BitPay represents a new era in payment technology. Its addition to the Flow platform not only extends their footprint into emerging digital payments but empowers retailers and brands to dramatically increase conversions by offering shoppers around the world their preferred payment method.
Flow is continuing to broaden the international payments available on its platform to accommodate local market preferences. While payment methods like Visa, Mastercard, and PayPal are popular in the U.S., alternative payment methods are growing globally and are critical to the success of cross border commerce. For example, in addition to welcoming cryptocurrency payments on its platform, Flow also supports UnionPay, Alipay and WeChat Pay, which represent 85% of retail transactions in the Chinese market.
Flow’s comprehensive payments product provides retailers and brands full chargeback and fraud protection, complete configurability by country, the ability to test payment preferences and seamless integration into both existing web infrastructures and Flow-hosted checkout.
For Sonny Singh, Chief Commercial Officer at BitPay as an addition to Flow’s platform, Bitcoin and Bitcoin Cash are ideal for international eCommerce payments making it easy to buy and sell goods from countries where traditional forms of payment are unavailable. BitPay facilitates this process while also reducing the risk of chargebacks and fraud for a much lower cost than credit cards.
Using BitPay, businesses receive fiat settlement directly to its bank account. There is no cryptocurrency price volatility or risk to the company. As a push transaction, the user sends the exact amount of Bitcoin or Bitcoin Cash needed to pay the bill. This eliminates traditional credit card fraud and identity theft risks associated with credit cards. BitPay enables transactions from any computer or mobile device making it convenient for customers around the world.