What is Cubed?
Cubed develops a suite of payment solutions so merchants can accept digital currencies both at the point of sale and through online stores. Cubed is a blockchain-as-a-service provider that is designed to be used alongside conventional fiat payments. Their innovative system enables merchants to seamlessly accept cryptocurrencies and digital currencies with the use of a powerful trade processing engine.
Many users have already been on-boarded to cryptocurrency solutions such as mobile wallets or market exchanges. But tools for merchants trying to accept digital currencies are lacking. Right now, most companies track their digital currency transactions separately and then reconcile them manually with their existing accounting and inventory management software.
Cubed was created to solve this problem. It offers a fast, auditable, and inexpensive way to transact, which removes the merchant’s cash handling liability. The solutions fit within existing sales workflows and provide all the features you would expect from a payment solution and more.
The Cubed blockchain-as-a-service platform offers capabilities such as inventory management, employee sales tracking, and accounting. The system can be deployed on tablets, desktops, and mobile devices, making acceptance of digital currencies easy for merchants.
Why accept crypto?
While mobile device payments have been commonplace for several years – particularly given the rise of Apple Pay-there are many benefits to adopting cryptocurrency as a form of payment over the conventional fiat currencies offered by current payment providers.
Cryptocurrencies can provide a universal payment option for international merchants and customers while also giving 1.7 billion people who remain unbanked the ability to participate in the global market. Another benefit is that cryptocurrency processing fees are lower than conventional debit or credit interchange fees. And they remove the risk of fraudulent charge-backs which is rampant with online transactions.
Cryptocurrencies also allow for the settlement of international payments much faster than conventional wire transfers, and cryptocurrency transactions can settle 24 hours a day without the threat of censorship. Finally, with Cubed, users and merchants can have sole custody of cryptocurrencies to prevent asset seizure or freezing which is a common issue with conventional banking.
The Cubed point-of-sale system helps merchants accept cryptocurrency and conventional fiat payments in one easy to use package. Customers can checkout online or pay in person with any digital currency payment via a QR scan through a mobile wallet that the customer can download to their iPhone or Android.
Cubed offers mobile wallet applications as an off-the-shelf product or custom branded for the merchant. To help with on-boarding, Cubed has partnered with Vault Logic to offer the installation of on-site Smart ATMs so customers can load cryptocurrency onto their mobile wallets at your brick-and-mortar locations.
The point-of-sale solution allows customers to buy and make purchases with Tokes, Bitcoin, Litecoin, Waves, and Dash tokens alongside traditional fiat currencies. A common consideration for a merchant accepting cryptocurrencies is the price volatility risk typically associated with them.
But this burden is eliminated with the bespoke trading engine built into the back end of the merchant gateway, where the merchant manages their operations. The trading engine allows the merchant to accept any number of cryptocurrencies but choose a portfolio or settlement allocation that they wish to settle in, including the option for asset-backed stable tokens pegged to the U.S. dollar.
The merchant gateway also offers product and inventory management, which is done through a custom integration with Pimcore. Merchants can quickly and easily add product categories, price, and ID numbers. Merchants can also take advantage of sales performance widgets that display sales analytics such as month over month sales, top-selling products, and highest-grossing salespeople. The accounting and reporting capabilities of the platform also offer exportable formats for integration with your external accounting software.
Merchants can use the same admin panel as the point-of-sale solution to facilitate eCommerce integrations to existing web stores via the QR code at checkout. The Merchant Gateway’s eCommerce capabilities allows users to leverage all the trade processing and settlement features as the point-of-sale but with their online stores. Cubed even offers integration with mobile applications to allow them to accept cryptocurrencies as well.
Cubed is working to produce popular eCommerce options such as Shopify, WooCommerce, and Magento. These leading platforms are where a larger portion of online transactions are taking place, and Cubed lets merchants take advantage of their mature ecosystems while seamlessly interacting with the Merchant Gateway.
In order to transact at brick-and-mortar businesses using the Merchant Gateway, Cubed offers mobile wallets with easy-to-use interfaces. Merchants can offer their users the standard Cubed-branded wallet or a white-label solution designed to match their company’s brand. The mobile wallet accepts Tokes, Bitcoin, Litecoin, Dash, and Waves out-of-the-box and can be extended to support other types of cryptocurrencies.
Additionally, Cubed mobile wallets have a number of enticing features including a vendor locator to find participating merchants, biometric security with hardware modules located on smartphones such as FaceID and TouchID, and manual private seed phrase backup and import to give users the freedom to move their cryptocurrency as they please and maintain custody of their assets. Merchants can also set up push notifications to send their users discounts and promotions.
Cubed is a leading cryptocurrency payment solution provider that allows merchants to accept digital payments seamlessly. Their eCommerce and point-of-sale solutions let merchants accept cryptocurrency wherever they are selling. You can learn more about their plans here or follow their parent company, Multichain Ventures, on Twitter and Telegram for the latest updates to their ecosystem.
Disclaimer: This a paid post, and should not be treated as news/advice.