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In this fast paced world, consumers pay for products and services electronically by a variety of payment methods including credit cards, direct debit, bank transfers and real time bank transfers based on online banking.
The payment service provider (PSP) can connect to multiple acquiring banks, card and payment networks and will fully manage these technical connections, relationships with the external networks, and bank accounts. Therefore the PSP takes care of the technical processing payment method for online shops.
To date, there are more than 900 PSPs in the world with over 300 offering services in Europe and North America. However, the most popular PSP is already a household name, and that would be PayPal. PayPal is an American company and available in 200 countries around the world, and one of its top founders is American business magnate Elon Musk.
Since Skale is home to a platform with cutting-edge technology and servicing the high power fintech companies and Forex companies, Skale clientele need to have payment solutions according to their needs and do need to keep up with the latest payment trends.
Presently, Skale has reached over 100 PSP integrations. Since we have a keen eye on the cryptocurrency market, PayPal has been playing a big role on the global market in the cryptocurrency trade. PayPal CEO Dan Schulman believes that “cryptocurrencies are on the verge of mainstream adoption as more businesses and consumers flock to digital payments and digital forms of currency”. In an interview with CNBC, Schulman stated that, “the use of cash has declined precipitously amid the pandemic“, adding that “40%-70% of consumers no longer want to handle cash.” Although cryptocurrency has been around since about 2008, PayPal only began working with this currency in late October 2020.
Not only has COVID-19 set the pace for a drastic conversion to cryptocurrency, it seems that there is no good reason to return to the obsolete ways of paying in cash and only resorting to credit when need be.
So, why not pair up the two leading companies in their respective fields? Perfect. No matter what plan your company takes on with Skale, be it Standard, Premium or Unlimited, adding PayPal to your payment options, will enable your company to increase your monthly revenue automatically and in real time. Skale clientele will benefit not only due to the cryptocurrency trade, but also with Forex and with Hedge Funds. Basically, wherever there is a trade in currency, PayPal will be the bridge that connects Skale to the greater, high-paced financial world.