eCommerce payment and banking solutions provider, Apcopay, has teamed up with elegro, an Estonia-based licensed crypto exchange, to introduce elegro’s crypto acceptance solution.
Through the partnership, online merchants can now begin to accept cryptocurrency payments whilst also eliminating any chargeback risks found with a credit card.
Timm Schneider, CEO, elegro commented: “I’m very excited about the partnership with Apcopay as it allows us to drastically speed up our rollout plan for this year and make our crypto merchant acceptance solution available to a large network of businesses immediately. We are a young company and such a reliable partner is vital to our success.”
Furthermore, funds are sent directly to the merchant’s bank account without the need to create crypto-specific wallets.
Schneider continued: “Existing Apcopay merchants can now enjoy a frictionless onboarding and use their existing integration rails to activate our crypto acceptance. This is a major milestone to establish our crypto acceptance for merchants that did not even think about it so far.”
Using statistics from cryptopolitan.com, elegro said the adoption of mainstream cryptocurrencies has increased by more than 70 times in the past six years – yet it was discovered more than 80% of users preferred to use a credit card for online purchases.
elegro stated that these stats show the most important factor in order to further drive crypto is user acceptance and this partnership will form an “integral part of the Apcopay payments offering.”
Daniel Buttigieg, head of business development, Apcopay, said: ‘The amalgamation of elegro’s product suite within Apcopay’s unified integration stack will translate into higher conversion rates for our merchants in need of an additional chargeback-free payment method.
“We do believe that the partnership with elegro will bring about a simplified user and merchant experience to crypto acceptance in non-tech laden environments. We are proud to partner with elegro and roll out a myriad of solutions aimed to streamline the whole process and offer more value.”
