‘You scroll down the internet and search for an item to buy. Whether it is a tiny component for your technological hobby, a hair item for your friend’s weddings, or a few dollars’ notebook for writing your future vision. We all have been in a situation where we only need one thing from a single service provider or one thing from various merchants.
At the moment of completing the purchase, you compare different payment methods. You’re staring at the total price of your purchase which has almost doubled together with the transaction fee. Not to mention, if it’s even possible just to buy one single item.
You abandon the basket and you are still haunted by the idea of how to get that item as easy as possible to your home address. With Fyfy, you don’t need to think about high transaction costs or failed transactions. Fyfy is a solution for user-friendly, cheap, and instant microtransactions and other payments which make your everyday life easy.’
Bloom of e-commerce
The number of e-commerce has grown dramatically. Together with this growth, the amount of online shoppers has increased. According to statista.com, in 2021 there are 2.14 billion digital buyers in total. This is almost one-third of the whole world’s population. In recent years, the growth has been fast, and it is evident that this trend is only growing bigger.
Since digitalization, online shopping has become increasingly popular as people are looking for easy and convenient ways to get their hands on their favorite products and services from their homes. As online activity has become a worldwide phenomenon, there are huge markets in this industry for different payment services.
According to statista.com, in 2020 retail e-commerce sales amounted to 4.28 trillion US dollars, and e-retail revenues are estimated to grow to 5.4 trillion US dollars in 2022. New online businesses are born daily, but competition is fierce. By fixing expensive transaction fees and small profits, many of these businesses could be saved. There is lots of room for growth and evolution in this industry.
There is demand for new kinds of businesses where you can buy just one cheap item or part of an online service. With current payment methods, this has not been possible for business owners to offer nor digital buyers to buy. With Fyfy you only ‘Pay Per Use’™ for services you want and pay low transaction costs for products you are purchasing.
Issues with current payment systems
E-commerce entrepreneurs are constantly looking for ways how to keep up with the competition, and a completed transaction is one of the essential elements of a successful sale. With blockchain technology, it is possible to develop a payment system that is secure, fast, and certain. Fyfy is offering a solution for fast and cheap ways of making user-friendly and instant micropayments and other online payments. This means that transactions are completed instantly, and, unlike with other payment systems, by using Fyfy and blockchain technology, merchants can use these assets right away.
Though mobile payments and other online payment methods have become increasingly popular within the past few years, the technical solution behind these systems has not been bulletproof. There are several issues with current payment methods ranging from fraud and chargebacks to cross-border transactions and multi-currency issues. In addition, high transaction fees and days of delay are things that current systems have not been able to solve.
Fyfy is a solution that e-commerce has been waiting for
All these problems, having been here for decades, since the first e-commerce platform has been established, can be fixed by this revolutionary new technology and ecosystem that Fyfy is developing.
Fyfy brings the full capacity of making cost-efficient, instant, and user-friendly transactions through its two products -Fyfy Wallet and -Fyfy Pay which are super straightforward to use and also fully supporting both PC and mobile possibilities. Through blockchain technology, all issues that have existed before in online transactions can be fixed, and with this new technology, businesses can adapt better to the competition and changes in the online business industry.
Though subscription models and monthly prices have been most profitable for companies in the past, competition requires companies to adapt to new times where customers are more demanding and require services on the basis of their use. Whereas subscription models require high reputation and commitment to gain customer attraction, selling services as a product where the customer can purchase only according to their needs, is the new future, and businesses that can offer these kinds of products and services have a higher possibility to survive in the tough competition.
Therefore, there is a variety of e-commerce merchants in demand for a payment service like Fyfy which can be used for making any size of transactions and allows any kind of pricing structure for products and services.
We’re looking forward to developing the Fyfy ecosystem and entering into partnerships with various businesses. Together we are making way to the new future of e-commerce!
Jenna / Fyfy.io