For a very long time, users have been the focal point of the team’s promotional efforts. However, businesses and companies that accept SoftNote Bills as a payment method are as important as those who spend them. Therefore, it is only proper that we recognize their contribution to the ecosystem, as they are a vital part of the system.
SoftNote Merchants 101: Who Are These Stakeholders
SoftNote Merchants are local businesses, eCommerce stores, and large corporations that accept Tectum SoftNote Bills. They are registered and officially recognized by Tectum. Furthermore, we typically provide these stakeholders with an ePOS machine that they use to scan the bills they want to receive.
While we are willing to work with large corporations, Tectum focuses on small and medium-scale enterprises. One reason for this is that our product is cost-effective, as most payment methods usually demand significant fees. MasterCard, Visa, Discover, and American Express typically charge merchants between 1.5% and 3.5% as commission. This means that merchants can pay up to $70 for every $2,000 they accept.
While this may not be a problem for a “big company,” it can be a challenge to small business owners, especially when they factor in additional operation costs. The discrepancy becomes more evident when you compare it to the profits they make from their products and services.
Although there are no overly strict requirements for becoming a SoftNote Merchant, intending businesses must meet certain criteria. One of the eligibility requirements is having a legitimate and licensed business already in operation. This ranges from restaurants and manufacturers to firms providing services.
SoftNote Merchants 101: Why They Are Essential to the Tectum Ecosystem
As mentioned earlier, Merchants are a vital component of the Tectum economy. Their contribution extends beyond accepting SoftNote as a payment method. Furthermore, their efforts benefit the cryptocurrency industry as a whole, not just Tectum. Several people do not understand this fact, which is why we are publishing SoftNote Merchant 101.
As you know, SoftNote Bills is built on Tectum, the fastest blockchain in the world. This product makes Bitcoin spendable by simplifying how people access and use cryptocurrency. While this is an excellent innovation, it is only as good as its usefulness. No one will get something that they cannot use, and this is where merchants come to play.
One of the major problems of cryptocurrency is that people cannot spend it “directly”. More often than not, they have to trade them in on a crypto off-ramp for fiat tokens. Businesses are also reluctant to accept blockchain tokens because of the challenges of the cost of doing so. With Tectum SoftNote Bills, most of these problems become nonexistent
Although our product solves the major challenges of spending Bitcoin, it cannot use itself. In this regard, we need merchants to encourage more people to utilize their cryptocurrencies through SoftNote Bills. More merchants accepting SoftNote as a payment method will encourage people to want to spend Bitcoin, which will increase its value and foster crypto adoption.
Benefits of Becoming a SoftNote Merchant
Becoming a SoftNote merchant has several advantages, one of which is the cost-effectiveness of this payment method. While this is a significant positive, there are countless other incentives to becoming a merchant. Some of these upsides include those outlined below:
- The Cheapest Fees and Commission: Merchants pay between 0.5% and 1% of the payments they receive as commission. Therefore, they only have to pay $10-$20 for every $2000 they receive. Compared to the demands of MasterCard, VISA, Discovery, etc., this is the best deal available in the market.
- Fastest Transactions Powered By the Fastest Blockchain: SoftNote Bills are built on Tectum, the fastest blockchain, so all transactions are instant. Therefore, merchants do not have to worry about slow or delayed transfers.
- Scalable and Seamless Blockchain Solution: Manage multiple businesses and branches under one account. SoftNote Pay is very easy to use, and first-timers will not have any challenge understanding how it works.
- Unparalleled and Round-the-Clock Technical Support: Upon successful registration, merchants will get an ePOS machine for receiving payments. In addition, the team is always on standby to provide the needed support, maintenance, and guidance. We are also working on a feature that will support online stores.
- Excellent Reporting and Analytics: Tectum understands that businesses require data to make accurate and informed decisions. In this regard, we incorporate analytical and reporting tools to enable firms to get a wholesome overview of performance in every aspect of sales.
- Supports Up to 10 Different Cryptocurrencies: By becoming a SoftNote Merchant, business owners can accept up to 10 different cryptocurrencies. This includes popular ones like Bitcoin, Ethereum, and the USD Tether stablecoin. There are no restrictions stopping entrepreneurs from expanding their businesses.
- A Truly Global Payment Method: Geographic limitation is one of the biggest problems of most payment methods. Due to political reasons, certain payment solution providers do not often support payments to or from certain parts of the world. This is not the case with Tectum SoftNote Bills, as we accept payment from anywhere on Earth. Even better, merchants can sell their products to customers in typically neglected regions.
How to Become a Merchant
Are you willing to accept cryptocurrencies as a payment method, improve sales, and enjoy the benefits outlined in SoftNote Merchants 101? Follow the steps below to become a merchant and get Tectum SoftNote Pay.
- Visit the Tectum Website
- Create a Tectum SoftNote Account
- Fill out the merchant registration form under the Crypto Solution for Business submenu.
- The team will process your registration and contact you in due time
If your registration is successful and you become a Tectum SoftNote Merchant, the team will welcome you with the following benefits:
- Zero fees on payments for the first 12 months
- Free advertising on all Tectum channels to promote your business
- No Commitment or forced contracts, and merchants can cancel anytime
- EPOS mobile app that businesses can use in-store to accept Bitcoin payments
- Free website payment gateway plugin for eCommerce stores.
