The way we pay for things online or directly in shops and with service providers has changed dramatically the world over In recent years. Cryptocurrencies, for instance, have disrupted mobile payments becoming powerful financial tools enabling customers and merchants to transfer wealth between one another at unprecedented speeds without needing to go through banks.
Many businesses have realized where the evolution of currency is headed, and the importance of riding the crypto wave to take advantage of the benefits payments with crypto bring, such as the increasing number of people using them as well as the lower transactional costs.
More importantly, for business owners that are still wary about the new asset class, most cryptocurrency payment methods do not require vendors to have any knowledge of how virtual currencies work from a technical perspective but only the benefits of using them.
The number of people that want to use crypto for everyday transactions is rapidly increasing. According to the GoCrypto website, more than 11% of the world’s consumers want to pay with crypto, and that percentage is growing every day.
A June 2019 report by Moscow-based cybersecurity firm Kaspersky Lab reveals that 19% of people globally have used cryptocurrency and that a further 14% are is keen to use crypto in the future. The findings are the result of a survey of 13,434 people in 22 countries in October and November 2018.
Taking advantage of the trend
Electroneum understands the trend and has observed an increasing number of business owners around the world who have begun to accept ETN as payment. Most vendors currently accepting ETN are in Uganda, South Africa, Brazil, and Argentina, while other territories are seeing growth too.
There are also about 300 e-commerce websites accepting ETN for purchases, which is significantly vital as this sector is expected to grow to US$5.9 trillion by 2022, according to an article by Forbes. E-commerce was responsible for around US$3.5 trillion in sales in 2019.
As the percentage of e-commerce sales from mobile phones or tablets is also significantly increasing, Electroneum is positioned to benefit significantly from the trend given that their ETN token is completely mobile phone-based. By 2021, 72% of all e-commerce sales will take place on a mobile device.
ETN Everywhere helps grow your business
Electroneum recently launched ETN Everywhere so that their 3.9 million registered users can quickly and easily find where they can use the ETN they hold or earn on AnyTask, the global freelance platform powered by the award-winning cryptocurrency. As of 21 May 2020, there are 1,510 merchants and service providers on ETN Everywhere in 174 countries across 25 business categories.
“ETN Everywhere is a global business network that allows merchants that accept ETN to get an official listing on the platform, where customers looking for places to spend their ETN can search and find them on a global merchant map,” said Electroneum Project Manager Laura Johnston.
She explained that each business could personalize their listing with images, logos, business information, including addresses, social media pages, websites, and more.
“Business owners with more than one business can also have multiple listings, all of which can be managed on the site,” she added.
But more importantly, Laura said, “by accepting ETN and having a listing on ETN Everywhere, merchants can grow their business by increasing their appeal to new customers and encouraging them to spend more with them, both locally and around the world.”
Mrs. Johnston went on to explain that ETN Everywhere also grants vendors access to abundant free resources that help businesses succeed, including personalized posters, templates for professional social media posts, and the latest e-commerce plugins.
“Not only that but for websites getting a listing on ETN Everywhere can help boost search engine optimization, meaning even more customers can find them online,” she concluded.