Why My Hardware Wallet Is Smitten with Payment Gateway Projects Like Request Network and OmiseGo

For both small companies and mega-firms, the future of e-commerce is poised to be facilitated through cryptocurrency payments gateway projects.

Think about teams like Request Network (REQ) and OmiseGo (OMG) – these currency-agnostic platforms are a dream come true for merchants like us.

Why, you ask?

Because they help us optimize everything we could possibly need, from:

– Online payments

– Business-to-Business (B2B) invoicing

– Accounting

– Auditing / Transparency

– Internet-of-Things (IoT) management

These are some of the major advantages that My Hardware Wallet could enjoy in using a payments gateway like the Request Network.

And, continuing with the REQ example, it can help merchants save a fortune on payments processing over the long-run. That’s because it costs as little as $0.001 USD to run a payment through the Request Network. Not bad at all, right?

This dynamic can be huge for startups who find PayPal’s 7 percent transaction processing fee too painful. Cutting costs means raising profits – and better profits means improved products and services.

Globalized business needs payment flexibility

Indeed, one of the most astonishing aspects of a project like OmiseGo is that it allows customers to pay for something with one currency while giving the merchant another totally different currency – whatever they need. This is so-called “currency agnosticism.”

And My Hardware Wallet is a perfect example of why this currency agnosticism is needed. We’re a hardware wallet provider based out of the U.K., so a lot of our customers rely on British pounds. Yet we do business with clients all across the world – particularly from Europe (euros) and the United States (dollars).

Through OmiseGo, then, our customers would be able to pay in dollars or euros, for example, while we’d simply receive British pounds when all was said in done. It makes accounting easier to keep everything in one currency, and the GBP is that for us.

In the not so distant future, there likely won’t be a single dominant currency at all. Rather there will be payment gateway facilitators that makes using multiples kinds of currencies easier than ever.

So the magic of projects like OmiseGo and Request Network is they break down some of the more painfully prohibitive barriers in ecommerce.

Payment gateways mean we won’t need customers’ card data soon, either

We, and many other firms, place the utmost importance on securing our customers’ private data. Soon, though, we may not have to worry about doing so at all thanks to projects like Request Network and OmiseGo.

That’s because these projects will let you be able to pay for products or services using just your phone or your browser depending on the circumstances.

With a click or a swipe (or two), clients will be able to pay without having to go through the process of inputting their card data. Accordingly, this newly trustless relationship will make e-commerce a whole lot safer for everyone involved.

The only conclusion to draw is that the future of payments processing is nigh. And it’s the cryptocurrency space that has the groundbreaking answers going forward.