How SHREE Pay’s incentives are no less than dividends for merchants?
March 16: The global consumer and merchant trends are rapidly changing, evolving precisely. While consumers have followed the trends to adopt digitisation wholeheartedly, merchants are yet to catch them up.
Talking about digitisation, the biggest shift has been the adoption of digital payment methods and fund transfers. The government-backed UPI has accelerated it further to a level that even the small shopkeepers are accepting digital payments without any worries about the technical complexities – the credit goes to the QR-based payments or simply QR codes.
Birth of Cryptocurrencies
Adding to that the recent development of digital assets and cryptocurrencies have taken the revolution further. If we are to be rallied around this emerging trend, crypto and virtual currency market value is fast gaining ground to a whopping $ 3 trillion.
However, lack of awareness has still limited the growth, nonetheless growth accelerating year on year. Although people are investing enthusiastically in cryptos and other virtual currencies, they are yet to find suitable platforms to spend it.
Need for Crypto awareness
Fintech is growing rapidly and undoubtedly, it’s disrupting many traditional financial ecosystems. However, once it is fully integrated with blockchain, which sooner or later will definitely happen, the whole centralized system of finance will switch over to decentralized finance. And Cryptocurrencies will play a significant role in that, which they have already started.
The recent announcement of digital currencies by the GOI can be seen as a starting step towards this digital revolution. Although not completely decentralized in nature, as RBI will be the sole regulating authority, it still reflects the potential foreseen by the government.
However, more than adoption the urgent need is to spread awareness among the masses. While the majority of the Indian populace is out of clue about terms like crypto, digital assets, virtual currency and fintech, those who know it on the surface level are still far away from giving it a try. Therefore, strategized awareness campaigns are needed to educate the common mass about the benefits of adopting digital currencies.
Looking at the success stories of fintech firms like PhonePe, BharatPe, and Paytm, wherein within a few years, they instilled the habits of digital payments among the common people, the task of repeating something similar with Crypto doesn’t seem very daunting.
How can retail merchants be the game changer in this revolution?
Having the assessment psyche to anticipate risk, loss, and profit, merchants have wholeheartedly adopted digital payment solutions. Hassle-free, fast and business growth opportunities are among the primary reasons why millions of retail merchants are already using fintech services in one or the other way.
Adding to that, a push further to convince them about the sheer benefits of adopting decentralized payment solutions can open the door for mainstream inclusion and adoption of cryptocurrencies and other digital assets.
The change in merchant and seller trends will also impact consumer trends and guide them towards the desired consequences. And once the consumers start adopting decentralized fintech and digital assets like cryptos, the game is won.
It will be a win-win situation for both merchants and consumers. Any new trend brings with it the early-bird benefits along with the first-hand benefits.
But where is the roadblock?
So far it’s clear that the future will see the rise of cryptocurrencies and how they can benefit all the stakeholders. However, Interoperability and High Transaction Fee are the most considerable roadblocks delaying this unprecedented transition.
When it comes to interoperability, Cryptos and Fiat currencies(the normal currencies authorized by governments) are still not interoperable, thereby limiting the number of active Crypto users.
Similarly, the absence of a suitable mechanism to bridge this gap is delaying mass-scale crypto adoption and new user onboarding. As people find it difficult to use their Cryptocurrencies, they are forced to use whatever handful of options they have at the moment.
However, the scanty options that allow the use of Cryptos like normal currencies charge a hefty fee for the transactions – yet again a highly discouraging factor for people to stay away from Cryptos.
What’s the way out?
The solution is to devise a fintech platform that can bridge the gap between both the worlds of Fiat currencies and Cryptocurrencies. A payment platform that can provide interoperability between Fiat money and Cryptos at nominal transaction fees is what people are looking for at the moment. In fact, such a payment platform that can only act as a bridge rather than an intermediary in the whole payment ecosystem will accelerate the scale of the blockchain-based digital currencies and take them to mass adoption.
SHREE – A single solution to all the dreaded problems
SHREE is a revolutionary fintech platform designed and deployed to solve the exact practical problems that haunt Crypto users. The blockchain-powered platform is to simplify the whole payment process involving Cryptos and other digital assets. With a vision to create a Peer-To-Peer direct payment experience, it is meant to bolster the popular retail payment system involving Scan and Pay method, with further additions in subsequent stages.
Instead of going wholly customer-centric, SHREE aims to bring onboard the merchants and retail outlet owners to its new-age P2P payment platform. By partnering with global payment solution providers, and different stakeholders alike, SHREE aims to broaden the scope of payment with Cryptos in daily life retail shopping.
For this revolutionary undertaking, SHREE has already floated its own native coin named SHREE COIN in the market. With rising hope amidst the government’s stance to promote digital currencies coupled with the enthusiastic endorsement of various digital assets, SHREE COIN can surely be a pioneer in India to establish blockchain payment ecosystems across the whole country.
Benefits of being a part of the SHREE ecosystem
- SHREE is facilitating interoperability between Fiat and Crypto.
- With its own blockchain, it provides an impregnable ledger to maintain financial data.
- The Scan and Pay feature is already known to merchants, so adaptability won’t be a problem.
- Merchants can skip the intermediary charges.
- Being early birds, merchants get the benefits of cashback on every transaction.
- As SHREE COIN gains value in exchanges, the holdings by merchants will automatically gain value.
- Merchants will get loyalty benefits and the earlier they join, the higher will be their loyalty benefits.
- Merchants will be eligible for other benefits provided by SHREE in its future developments.
The final note
The future will witness unprecedented changes catalyzed by blockchain. Apart from disrupting the traditional setups, blockchain will also introduce new players challenging the established systems.
SHREE is one such new-age fintech player that is emerging fast as a payment solution provider for small scale retailers and merchants. Using the existing Scan and Pay method, it is set to introduce digital virtual currencies to the common masses, thereby changing the whole payment ecosystem altogether. By adopting SHREE, merchants and users can get rid of the intermediary charges and enjoy secure and private P2P financial transactions.