Silicon Valley-based credit card payment solution provider ForgingBlock has announced the launch of its new payment gateway solution that allows for transactions using cryptocurrency. The hybrid payment gateway also accepts established payment methods such as credit cards, PayPal, and Apple Pay.
ForgingBlock aims to help both large enterprises and small businesses seamlessly integrate advanced payment solutions and also provide software that utilizes advanced technologies such as blockchain, cryptocurrency, and big data analysis.
As ForgingBlock is the successor to Tetra Payments, a company also owned by Forging Technologies Inc. that specialized in traditional point-of-sale and credit card payments. They discovered existing blockchain payment hardware and software were often difficult to learn and implement by small business owners who lacked the technical expertise to implement by themselves.
Meanwhile, web developers for merchants may not have experience implementing blockchain transactions. ForgingBlock would provide the technical implementation for cryptocurrency payment to a small business, such as restaurants, retail store, etc.
“Providing complete payment solutions and support to help merchants boost their revenue and reduce distraction from non-core business matters, allowing them to focus on selling their product is always our vision. Developing a Bitcoin and cryptocurrency gateway along with our existing card point-of-sale business will help our customers and developers prepare for the future of payments. In the market, there are no integrated solutions that support both traditional currency and cryptocurrency payment, which we believe will be the future.”
“Integrating cryptocurrency into our payment solutions is essential because businesses, and e-commerce, in particular, operate more and more on a global scale, and cryptocurrencies are becoming convenient and practical for both consumers and merchants. Transactions on the blockchain do not incur excess fees, and we want to provide businesses with the next-generation devices to expand their market.”