Crypto Payments Firm CEO: Hacks, Scams, and Volatility Discourage Mass Adoption
AtomicPay’s CEO believes that scams and volatility are the primary things holding back public mass adoption of cryptocurrencies.
The Thailand-based company is a non-custodial crypto payment processor. They are one of the few crypto payment processors that facilitates payments for multiple cryptos without holding merchant funds in escrow and charging a fee before releasing funds. AtomicPay charges 0.9% at the end of every month that their service is used. Rather than demanding a percentage of every sale at the time the sale is settled, they issue a bill.
CEO Benz Rif tells CCN in a recent interview that they very much rely on an “honor system.” Importantly, he says they haven’t had any problems with people failing to pay fees.
Founded Out of High Fee Woes
Rif says that he created the company after paying as much as 13% to Paypal. Domestic users based in the US may not experience such high fees, but when all is said and done, for companies operating in places like Thailand, PayPal and currency conversion fees top 10% routinely. He says his company tried to use Bitpay but ran into similar problems there.
Read the full story on CCN.com.
