Montreal, June 28, 2022 (GLOBE NEWSWIRE) —
Sending and receiving cryptocurrency payments in consumer sales can be a complicated process. The high transaction fees of cryptocurrencies can make it difficult to purchase low-priced items, or the slow and inconvenient process of converting cryptocurrencies can have expensive exchange fees. These obstacles are why many sellers and buyers have avoided cryptocurrencies for consumer transactions.
Montreal-based FinTech startup Dello is changing this dynamic. Its new payment processing solutions for cryptocurrency users make it easy to handle transactions, from small, everyday purchases to large items like cars, boats, and even real estate.
In recent comments, Dello president Olivier Benloulou explained how it all works: “Someone walks into a business to buy something worth X dollars and pays in crypto. Dello takes the crypto and guarantees the exact dollar value to the business.”
Dello created this simplified handling of crypto payments by providing several key benefits and features to its retail partners:
- Instant transactions through the Bitcoin Lightning Network, which is as fast as credit and debit payments.
- Transaction fees range from 1.25 to 0.1%. The larger the purchase, the lower the fee.
- A simplified platform that allows buyers to send crypto to sellers with a QR code, regardless of the amount.
- Protection against chargeback fraud by offering complete non-reversible transactions.
Cryptocurrency transactions have fixed network fees, regardless of the payment amount. This means that buyers purchasing an item costing thousands of dollars, such as a car, can expect to pay negligible fees for their transaction. Dello converts the crypto sent by the buyer to the local currency and sends those converted funds to the seller, minus a small processing fee that scales as low as 0.1%. All of this is almost instantaneous and allows buyers to bypass traditional banking altogether.
Dello has been developing its POS technology for crypto and conventional digital payments since 2021 before rolling out its sales platform to interested merchants. The startup also offers its Dello Bridge solution for non-crypto sales processing. Dello Bridge can connect to any compatible POS solution in just a few minutes.
Olivier Benloulou says: “We are proud of the partnerships we are forming to fulfill our mission of enabling easy, everyday crypto payments. Until people have a place to spend crypto, mainstream adoption of crypto is in a holding pattern. We are here to break that pattern.”
Dello’s cryptocurrency POS hardware and software solutions enable more retailers to feel comfortable providing cryptocurrency payments to millions of crypto owners around the world. Interested traders can contact the FinTech provider through their website dello.com.