There are various companies around the world working on making the e-commerce ecosystem a more convenient and streamlined place. Most of the issues in this space can be attributed to reaching a global audience, and having to deal with different payment methods requiring currency conversions. Companies like ChargeBee are removing quite a few headaches in this regard, as they offer various tools to manage online subscriptions and recurring billings.
Payment Conversions Are a Struggle In E-Commerce
When looking at traditional payment options, such as card payments and bank transfers, there is no universal form of currency to boost e-commerce adoption on a worldwide scale. Every individual country has its own payment methods that may – or may not – work internationally. On top of that, when dealing with international customers, there are currency exchange rates to take into account.
This is where companies like ChargeBee come in, as their goal is to make managing online subscriptions a lot easier for companies. Such a service is of great value to startups, as they are facing enough worries in the early stages. But what truly makes this company stand out is its ability to process international payments in a convenient manner.
Due to the partnership between ChargeBee and Worldpay, integrated payment solutions have been made available to companies working with subscription billing. Customers can pay in their local currency, and ChargeBee will take care of the rest as they will process payments between different currencies without involving a bank.
Venturing into the world of subscription billing is not a straightforward move for any startup these days. Even ChargeBee started out with a completely different business model; as their bread-and-butter used to be software-as-a-service. But it didn’t take long to build something creative, and once ideas started falling into place, this new business model spawned from it.
Bitcoin Is A Global Currency
At the time of publication, ChargeBee staffs 52 employees, and more growth is expected over the next few years. One thing that could help the company reach an even bigger audience is if they were able to venture into the world of Bitcoin and digital currency.
Unlike all of the different fiat currencies in existence, Bitcoin is the only global currency in the world that can be used to quickly transfer value across borders. Additionally, one Bitcoin in Africa is the same as one Bitcoin in Europe or the US, making it a perfect payment method for retailers and consumers all over the world.
Source: Tech In Asia