What Is Omnichannel Retail? Your Business Strategy for 2022

February 4, 2022 | 120 views

Think ‘omnichannel retail,’ and the first brands that spring to mind might be Target, Alibaba, or Best Buy. The term is usually associated with giant brands and mass merchants—but it doesn’t have to be.


Walmart, Amazon, Sephora, and their ilk may dominate the headlines as early adopters achieving great feats, such as one-hour store pickup, record sales after a viral TikTok, or loyalty-boosting mobile apps. But omnichannel retail is just as achievable for small-to mid-sized brands and just as critical to future success.

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Boxed

NBC Nightly News called our CEO, Chieh Huang, “America’s Dream Boss” for the benefits he extends to employees. In May 2015, Chieh announced he will fund all Boxed employees'​ kids'​ college tuition. Our generous company benefits have been featured on GMA, Today, CNN, The Huffington Post, and more.

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POS SOLUTIONS

How POS Solutions Assist Restaurants to Increase their ROI?

Article | June 14, 2022

Introduction The hospitality industry has always been challenging and full of obstacles, such as low-profit margins, high competition, and turnover management, irrespective of the type of restaurant or level of owner experience. However, rapidly changing business dynamics and current conditions have increased these challenges enormously. Changing customer preferences, including high customer service expectations and an emphasis on the sourcing of ingredients and nutrition values, affect the entire operation. Also, the growing importance of reviews and word-of-mouth referrals makes brand management both more crucial and complex. Thus, several restaurant owners are increasingly investing in innovative solutions, such as restaurant POS systems, to improve the consumer experience, empower business owners to manage restaurant operations more efficiently, and increase ROI. Top 5 Ways How Restaurant POS Integration Can Boost ROI Due to the fast-paced nature of the restaurant sector, coupled with ever-changing customer needs, business owners encounter numerous challenges in keeping up with the changes and meeting customer expectations while maintaining perfect control over all aspects of their operations. As restaurant POS systems provide solutions for these challenges while also improving workplace efficiency, automating several tasks, monitoring employee performance, and enhancing security, these systems are gaining massive popularity in the hospitality industry. Out of all the new features that restaurants can get from POS integrations, such as delivery management, accounting, and more, these are the most important ones that help owners get the best return on their investment: Create Data-driven Campaigns Modern POS solutions enable restaurant owners to collect valuable data about their customers, such as their preferred food choices, their addresses, how often they visit the establishment, and others. These actionable insights can be used to create personalized campaigns, increasing their chances of responding to a customized offer and improving ROI. Support Omnichannel Communications and Payments With the advent of e-commerce, food can now be ordered and paid for via multiple channels, including the restaurant's website, third-party applications, the phone, and others. Therefore, it has become essential for restaurant owners to increase contact with their customers. Integrating a restaurant POS system enables owners to facilitate omnichannel communication and payments and discover the optimal way to communicate with consumers, thereby increasing food order flow from both offline and online channels. Improves Customer Relationship As the restaurant sector continues to become more competitive year by year, it is becoming crucial for restaurant owners to improve their relationships with customers. With restaurant POS systems, customers can make the payment using their preferred methods, such as cash, credit or debit card, QR code, UPI, and others. These systems also reduce the time for placing food orders as well as decline the chances of order misplacement. This results in providing better customer service, improving customer relationships, and increasing customer inflow. Streamline Restaurant Operations From front-of-house to back-of-house operations, modern POS technology assists restaurant owners in streamlining various business operations such as inventory control, labor management, payment getaways, and order tracking and delivery, among others. Thereby reducing the overall cost, declining the chances of errors, and improving profit margins. Final Thought Today, POS technology is clearly a necessity for the hospitality industry, irrespective of the type of establishment, such as fine dining, fast food, cloud kitchen, hotels, and others, to enhance restaurant operations, provide a smoother customer experience, and improve ROI. With the introduction of customizable POS solutions and a growing shift towards cashless payments, modern restaurant POS systems are anticipated to transform the ways of food ordering and payment in the forthcoming years.

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POS SOLUTIONS, CLOUD BASED POS

Top 5 Reasons Why Modern Restaurant Needs Integrated POS Solutions

Article | July 12, 2022

Introduction Due to the dynamic nature of the industry and the ever-evolving demands of its customers, restaurant business owners are facing a unique set of challenges. This is compelling them to streamline their operations to meet customers' rising expectations while maintaining perfect control over all aspects of their establishment. In addition, emerging innovative technology solutions are rapidly changing the world of payment systems, and the restaurant industry is the best example of it. Today, opening a restaurant is more than just serving food and making money. It is about providing a memorable experience to the customers and retaining them. As a robust restaurant point-of-sale (POS) solution assist in delivering a better customer experience, pacing up the ordering process, and managing inventory, among others, it is gaining huge popularity in the sector. Why Does Restaurant Need to Invest in Modern POS Systems Today? As the trends of online food ordering at dine-in and competition in the hospitality industry continue to deepen, it is becoming imperative for restaurant owners to efficiently manage the point of sale for their eatery. Also, the growing need for faster customer food service, efficient employee scheduling, and effective inventory management is encouraging business owners to adopt innovative restaurant technologies, such as restaurant POS systems. Here are some of the main reasons restaurants should integrate modern POS solutions. Effective Ordering Processes The ordering process, being the nerve center for restaurants, is one such aspect that needs serious attention. As food ordering processes that take a long time can significantly hamper the customer experience and satisfaction, owners of food establishments are aiming at leveraging novel restaurant POS systems to streamline and ease the food ordering processes. Increase Cash Flow Optimum cash flow is the backbone of any business. If restaurants are unable to maintain enough cash flow, they will have difficulties staying in business in the long run. Since restaurants are able to serve more customers per hour with fast-paced POS technology, allowing for greater sales and increased cash flow, business owners are aiming to deploy these modern POS solutions. Organize and Track Profit and Loss Keeping an accurate track of the income and expenses is of great importance for understanding the financial position of the eatery and creating an effective strategy to increase its revenue. A POS system can assist business owners in preparing a settlement at the end of each day, week, and month, keeping track of the ROI, and organizing profit and loss. Offer Security to Customers Customers or guests are increasingly using various cashless modes for transactions, such as credit cards, online banking, and others, for making payments. With increasing instances of customer data theft, guests are increasingly concerned about their data privacy and payment credentials. Hence, several food establishments are emphasizing embracing restaurant POS software to offer enhanced security to customers. Build Customer Database In today's highly competitive world, engaging and retaining customers is crucial for the success of businesses, especially in the restaurant industry. As the latest POS solutions aid restaurants in enhancing customer communications and loyalty, along with improving customer relationship management by building a customer database, these solutions are increasingly being sought in the sector. The Ending Thought With the emergence of innovative trends in the hospitality industry and the ever-changing needs of customers, it is becoming difficult for restaurant owners to keep the customers happy and build credibility in the long run. Since modern restaurant POS systems with advanced integrated technologies, such as artificial intelligence, can assist these restaurants in overcoming these obstacles along with providing numerous advantages, including cost reduction and increased ROI, these systems are anticipated to become a necessity for restaurants in the coming years.

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POS SOLUTIONS

Cashless Restaurants: A New Frontier in Hospitality Industry

Article | July 13, 2022

Introduction The restaurant sector is facing constant transformation with the emergence of new hospitality industry trends and technologies, along with numerous challenges. Even with the roadblocks, the industry continues to grow at a staggering rate. According to the National Restaurant Association, the size of the restaurant industry in the U.S. is anticipated to increase from US$799 billion in 2021 to US$899 billion in 2022. From fast food to fine dining, food delivery to contactless tech, well-known restaurateurs are investing in new technologies to build meaningful relationships with their staff and customers, improve the customer experience, and meet changing expectations of guests. The hospitality industry is seeing the emergence of a new cashless restaurant trend as a result of the widespread adoption of advanced contactless POS technologies and rapid digital transformation. Furthermore, restaurants are moving away from accepting cash payments since more and more customers are embracing contactless payment alternatives like credit cards, UPI, and QR codes. What Are the Features Driving the Cashless Restaurant Trend? Dine-in establishments, such as restaurants, bars, and cafes, have become increasingly popular among the population today, leading to longer wait times for orders, slower service, and more difficulty processing cash payments. Furthermore, increasing hygiene concerns and rising incidences of internal theft across food spaces are deepening the cashless restaurant trend in the hospitality industry. Let’s see some of the attractive features further encouraging restaurants to go cashless: Convenient for Guests As digital currencies are paving the way of payment, guests are increasingly looking forward to visiting locations where they can make the payment swiftly without the need to carry physical money. Cashless restaurants make it easy for guests to pay with their mode of choice: credit or debit cards, net banking, payment gateways, QR code scanning, and others, offering the convenience customers and guests are looking for. Reduces Risk of Internal Theft One of the significant problems that the majority of restaurants face is theft, which negatively impacts both profits and expansion opportunities. Theft has been commonplace in the eatery, especially when employees, rather than the owner, are in charge of the cash register. The National Restaurant Association estimates that staff theft costs quick-service restaurants between 5% and 7% of their revenue. However, a cashless restaurant operates entirely on the latest POS solutions and only accepts digital currency, eliminating the possibility of internal theft. Reduces Wait and Transaction Time Transaction time is one of the crucial aspects that can impact the customer experience, especially across quick service restaurants. Difficulty completing a transaction due to lack of change and related issues can result in lengthening the wait time and creating a hassle. The adoption of electronic POS solutions by cashless restaurants resolves this issue, reducing the potential for such incidents to occur. This assists in speeding up the transaction process and decreasing wait times. Increase ROI Cashless eateries with their modern restaurant POS solutions enable owners to track and record every digital payment transaction made by guests, providing essential data on who buys what and when. This opens up a new window for eating establishments to gain insight into their patrons' tastes and tailor their services accordingly, resulting in increasing footfall in the restaurant and an accelerating return on investment. Modern POS Solutions: The Future Need of Cashless Restaurants With the rise in the use of digital currencies and electronic payment solutions, food establishments are increasingly investing in deploying cashless restaurant POS systems to improve the customer experience while boosting their ROI. As per a survey, 94% of restaurants stated that they have invested in cashless payment solutions. As the trend of cashless restaurants continues to gain popularity across the hospitality industry, food establishments accepting only cash are looking for ways to go cashless. This is anticipated to create a massive demand for modern restaurant POS software in the upcoming years.

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Retail ,Wholesale Trade,Ecommerce,Retail,E-commerce,point of sale.

Article | February 10, 2020

Last July, a small group representing the giants of the tech industry gathered in the seat of US government, Washington DC. They probably didn’t want to be there. Congress had summoned their employers Apple, Facebook, Google, and Amazon to answer questions about the command they hold over the markets they operate in. On Amazon’s behalf, associate general counsel Nate Sutton spoke in defense of his employer’s role in US retail. Throughout, he argued that Amazon isn’t so powerful as to be able to control prices and stifle competition. Amazon, he pointed out, makes up less than 1% of retail globally. In the US, it accounts for around 4% of retail. In fact, Walmart is much larger than Amazon, he said. In terms of sales, Sutton is right. Walmart reported $510 billion in total sales across its US and international segments in the 2019 fiscal year, versus Amazon’s $233 billion in roughly the same period.

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Spotlight

Boxed

NBC Nightly News called our CEO, Chieh Huang, “America’s Dream Boss” for the benefits he extends to employees. In May 2015, Chieh announced he will fund all Boxed employees'​ kids'​ college tuition. Our generous company benefits have been featured on GMA, Today, CNN, The Huffington Post, and more.

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POS SOLUTIONS

Givex Canada Corporation Announces Partnership with Enactus Canada

Givex | December 02, 2022

Givex Canada Corporation announced today its partnership with Enactus Canada, a national charity and the country's largest post-secondary experiential learning platform, to help shape entrepreneurial leaders who are passionate about advancing the economic, social and environmental health of Canada. Having had the privilege of judging both International and Canadian Enactus competitions it became very clear to me that Canada has a new generation of brilliant and motivated young leaders in our universities," said Don Gray, CEO of Givex. "I believe it is important to give these young leaders a platform to test their ideas and learn what it takes to not only have an idea or a dream but how to do the work needed to make it a reality. Enactus Canada is doing this for Canadians, and as part of a global organization, it is helping young leaders in many countries gain this same experience. Givex is proud to support Enactus Canada as a Gold Sponsor. Givex joins other leading Canadian companies in supporting Enactus Canada's mission of shaping generations of entrepreneurial leaders who see business as a way to address social issues. "We are thrilled for Givex to join the Enactus Canada community,Not only are they a leading global fintech company, but their focus on diversity and inclusion is paramount in all that they do as an organization." Allyson Hewitt, Enactus Canada President and CEO. About Givex Givex is a global fintech company providing merchants with customer engagement, point of sale and payment solutions, all in a single platform. We are integrated with 1000+ technology partners, creating a fully end-to-end solution that delivers powerful customer insights. Our platform is used by some of the world's largest brands, comprising approximately 118,000 locations across more than 100 countries. Learn more at givex.com. About Enactus Canada Enactus Canada, a national charity and the country's largest post-secondary experiential learning platform, is shaping entrepreneurial leaders who are passionate about advancing the economic, social and environmental health of Canada. Guided by academic advisors and business experts, more than 3,000 post-secondary students led 188 community empowerment projects and business ventures last year in communities coast to coast, directly impacting over 30,000 lives.

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POS SOLUTIONS

Carats & Cake Launches Dashboard for Sales and Finance Teams Across the Hospitality Industry

Carats & Cake | November 28, 2022

Carats & Cake, the financial operating system for the events industry, today announced the launch of its dashboard solution for sales and finance teams across the hospitality industry. The first product to launch since the company announced its Series A financing in September 2022, the dashboard provides property groups with easy-to-access, transparent, and real-time reporting as part of its end-to-end revenue optimization platform. “At Carats & Cake we partner with the largest hospitality groups and property asset owners in the world to ensure their teams have a purpose-built solution that improves efficiency and drives up revenue while increasing margins. One of the gaps we noticed that was fairly omnipresent across the industry was the lag in information sharing between sales and finance teams. Sales is always thinking about the next opportunity and finance is often looking at what has occurred to ensure all invoices are paid. With the Carats & Cake dashboard, we’re providing all business functions with access to the intelligence to drive their business forward by reducing that lag in up-to-date information,” Rhett Keller, Chief Revenue Officer, Carats & Cake. The new dashboard includes features such as: Invoice Creation & Scheduling (to match current process) Real Time Notifications of Payment and Contract Activity Insights into Prospect Engagement Monthly / Quarterly Insights into Sales & Marketing Performance across Property Portfolio Payment Type Optimization Driven by Property Group Finance Teams and Types of Events (Wire / Credit Card / ACH / e-check) PCI DSS Level 1 Compliance with Card On File Functionality (for reduced risk of fraud and disputes for property teams) Streamlined Integrations with Property Management Solutions (PMS) Including: Amadeus, Oracle OPERA 5, TripleSeat, CI/TY, and others No two property groups are the same in terms of team structure, reporting, or the end-to-end customer journey from discovering a property to hosting an actual event. Whether it’s a massive corporate conference, an intimate wedding, or any scale event in between, Carats & Cake is committed to building the industry-specific platform to ensure the best outcome for both the event host and the property asset owner,” said Jess Conroy, Founder and CEO, Carats & Cake. “What we’ve heard over the last few years - especially from multi-property groups - is that being able to standardize and have visibility across assets is material for decisions around future resource allocation. It’s a win for every facet of an organization when they can proactively inform themselves via real-time data. We’re providing that with our new dashboard and are looking forward to adding more features to the platform in the months to come. Founded in 2013, Carats & Cake touches every facet of property groups’ event sales operations including marketing, sales, contracting, invoicing, and financing. The company’s solutions connect the customer journey from venue discovery to actually paying for an event. Carats & Cake serves as a necessary solution for venues that complements CRM and POS solutions already in use on the hotel booking side of the business. About Carats & Cake Carats & Cake delivers the revenue optimization platform for venues and property groups, transforming the $100 billion annual events industry through a full suite of purpose-built marketing, sales, and customer conversion (contracting, invoicing, and payments) solutions. Built by industry leaders, Carats & Cake has cultivated nearly a decade of trust with best-in-class businesses. Founded in 2013 and backed by 1Sharpe Ventures, Founders Fund, Acrew Capital, Moore Specialty Credit, Correlation Ventures, SilverCircle, GMO VenturePartners, and others, Carats & Cake enables forward-thinking event venues, hospitality groups, and property asset owners to provide a modern customer experience while optimizing sales operations and increasing revenue.

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POS SOLUTIONS

WooCommerce and DePay Partner to Bring Web3 Payments to Online Merchants

DePay | November 23, 2022

Swiss Web3 payment startup DePay today announced that they are joining forces with the self-hostable, open-source eCommerce plugin WooCommerce, pushing decentralization further and providing merchants with the ability to have customers send payments directly to their own wallets with tens of thousands of accepted tokens on supported blockchains with on-the-fly conversion.DePay makes Web3 and crypto payments as straightforward as possible for merchants and their customers, without requiring a custodial approach," said David Lockie, Web3 Lead at Automattic. "We wanted to offer WooCommerce merchants a wide range of crypto payment providers, and were instantly impressed by DePay's flexibility across chains and coins, as well as their focus on a great user experience for all parties. "WooCommerce is the best way for merchants to run their shops without intermediaries. With the launch of DePay Payments for WooCommerce, this now also applies to payments." Sebastian Pape, Founder of DePay. The mechanism of blockchain transactions is inherently peer-to-peer and decentralized. Nevertheless, most of today's established Crypto Payment solutions manage wallets for their customers, embedding a decentralized technology into centralized structures. As a result, the buyers pay intermediaries who credit the merchant's account after processing each payment. Merchants then need to request the withdrawal of their funds as opposed to receiving the payments directly into their wallet. Aiming for a paradigm shift, DePay establishes a new model by using decentralized finance (DeFi) to enable any-to-anything payment conversions managed by smart contracts, allowing merchants to receive all incoming payments in real-time. WooCommerce and its parent company Automattic are strong partners for DePay thanks to their mission to drive decentralization further. We share their goal of democratizing commerce by removing barriers to entry based on income, gender, and geography. The benefits for Woo merchants include: Instant Cashflow: Received payments are settled and available for the merchants in real-time. Automatic Conversion: Tokens are automatically converted (e.g. to stablecoins) as part of the payment transaction. Unmatched token acceptance: By using DeFi, DePay grows the amount of accepted tokens by a hundredfold. About DePay DePay pioneers Web3 Payments with the power of DeFi. Driving mass adoption of blockchain-based payments, DePay merges the core ideas of decentralization and interoperability with state-of-the-art Web3 technologies.

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POS SOLUTIONS

Givex Canada Corporation Announces Partnership with Enactus Canada

Givex | December 02, 2022

Givex Canada Corporation announced today its partnership with Enactus Canada, a national charity and the country's largest post-secondary experiential learning platform, to help shape entrepreneurial leaders who are passionate about advancing the economic, social and environmental health of Canada. Having had the privilege of judging both International and Canadian Enactus competitions it became very clear to me that Canada has a new generation of brilliant and motivated young leaders in our universities," said Don Gray, CEO of Givex. "I believe it is important to give these young leaders a platform to test their ideas and learn what it takes to not only have an idea or a dream but how to do the work needed to make it a reality. Enactus Canada is doing this for Canadians, and as part of a global organization, it is helping young leaders in many countries gain this same experience. Givex is proud to support Enactus Canada as a Gold Sponsor. Givex joins other leading Canadian companies in supporting Enactus Canada's mission of shaping generations of entrepreneurial leaders who see business as a way to address social issues. "We are thrilled for Givex to join the Enactus Canada community,Not only are they a leading global fintech company, but their focus on diversity and inclusion is paramount in all that they do as an organization." Allyson Hewitt, Enactus Canada President and CEO. About Givex Givex is a global fintech company providing merchants with customer engagement, point of sale and payment solutions, all in a single platform. We are integrated with 1000+ technology partners, creating a fully end-to-end solution that delivers powerful customer insights. Our platform is used by some of the world's largest brands, comprising approximately 118,000 locations across more than 100 countries. Learn more at givex.com. About Enactus Canada Enactus Canada, a national charity and the country's largest post-secondary experiential learning platform, is shaping entrepreneurial leaders who are passionate about advancing the economic, social and environmental health of Canada. Guided by academic advisors and business experts, more than 3,000 post-secondary students led 188 community empowerment projects and business ventures last year in communities coast to coast, directly impacting over 30,000 lives.

Read More

POS SOLUTIONS

Carats & Cake Launches Dashboard for Sales and Finance Teams Across the Hospitality Industry

Carats & Cake | November 28, 2022

Carats & Cake, the financial operating system for the events industry, today announced the launch of its dashboard solution for sales and finance teams across the hospitality industry. The first product to launch since the company announced its Series A financing in September 2022, the dashboard provides property groups with easy-to-access, transparent, and real-time reporting as part of its end-to-end revenue optimization platform. “At Carats & Cake we partner with the largest hospitality groups and property asset owners in the world to ensure their teams have a purpose-built solution that improves efficiency and drives up revenue while increasing margins. One of the gaps we noticed that was fairly omnipresent across the industry was the lag in information sharing between sales and finance teams. Sales is always thinking about the next opportunity and finance is often looking at what has occurred to ensure all invoices are paid. With the Carats & Cake dashboard, we’re providing all business functions with access to the intelligence to drive their business forward by reducing that lag in up-to-date information,” Rhett Keller, Chief Revenue Officer, Carats & Cake. The new dashboard includes features such as: Invoice Creation & Scheduling (to match current process) Real Time Notifications of Payment and Contract Activity Insights into Prospect Engagement Monthly / Quarterly Insights into Sales & Marketing Performance across Property Portfolio Payment Type Optimization Driven by Property Group Finance Teams and Types of Events (Wire / Credit Card / ACH / e-check) PCI DSS Level 1 Compliance with Card On File Functionality (for reduced risk of fraud and disputes for property teams) Streamlined Integrations with Property Management Solutions (PMS) Including: Amadeus, Oracle OPERA 5, TripleSeat, CI/TY, and others No two property groups are the same in terms of team structure, reporting, or the end-to-end customer journey from discovering a property to hosting an actual event. Whether it’s a massive corporate conference, an intimate wedding, or any scale event in between, Carats & Cake is committed to building the industry-specific platform to ensure the best outcome for both the event host and the property asset owner,” said Jess Conroy, Founder and CEO, Carats & Cake. “What we’ve heard over the last few years - especially from multi-property groups - is that being able to standardize and have visibility across assets is material for decisions around future resource allocation. It’s a win for every facet of an organization when they can proactively inform themselves via real-time data. We’re providing that with our new dashboard and are looking forward to adding more features to the platform in the months to come. Founded in 2013, Carats & Cake touches every facet of property groups’ event sales operations including marketing, sales, contracting, invoicing, and financing. The company’s solutions connect the customer journey from venue discovery to actually paying for an event. Carats & Cake serves as a necessary solution for venues that complements CRM and POS solutions already in use on the hotel booking side of the business. About Carats & Cake Carats & Cake delivers the revenue optimization platform for venues and property groups, transforming the $100 billion annual events industry through a full suite of purpose-built marketing, sales, and customer conversion (contracting, invoicing, and payments) solutions. Built by industry leaders, Carats & Cake has cultivated nearly a decade of trust with best-in-class businesses. Founded in 2013 and backed by 1Sharpe Ventures, Founders Fund, Acrew Capital, Moore Specialty Credit, Correlation Ventures, SilverCircle, GMO VenturePartners, and others, Carats & Cake enables forward-thinking event venues, hospitality groups, and property asset owners to provide a modern customer experience while optimizing sales operations and increasing revenue.

Read More

POS SOLUTIONS

WooCommerce and DePay Partner to Bring Web3 Payments to Online Merchants

DePay | November 23, 2022

Swiss Web3 payment startup DePay today announced that they are joining forces with the self-hostable, open-source eCommerce plugin WooCommerce, pushing decentralization further and providing merchants with the ability to have customers send payments directly to their own wallets with tens of thousands of accepted tokens on supported blockchains with on-the-fly conversion.DePay makes Web3 and crypto payments as straightforward as possible for merchants and their customers, without requiring a custodial approach," said David Lockie, Web3 Lead at Automattic. "We wanted to offer WooCommerce merchants a wide range of crypto payment providers, and were instantly impressed by DePay's flexibility across chains and coins, as well as their focus on a great user experience for all parties. "WooCommerce is the best way for merchants to run their shops without intermediaries. With the launch of DePay Payments for WooCommerce, this now also applies to payments." Sebastian Pape, Founder of DePay. The mechanism of blockchain transactions is inherently peer-to-peer and decentralized. Nevertheless, most of today's established Crypto Payment solutions manage wallets for their customers, embedding a decentralized technology into centralized structures. As a result, the buyers pay intermediaries who credit the merchant's account after processing each payment. Merchants then need to request the withdrawal of their funds as opposed to receiving the payments directly into their wallet. Aiming for a paradigm shift, DePay establishes a new model by using decentralized finance (DeFi) to enable any-to-anything payment conversions managed by smart contracts, allowing merchants to receive all incoming payments in real-time. WooCommerce and its parent company Automattic are strong partners for DePay thanks to their mission to drive decentralization further. We share their goal of democratizing commerce by removing barriers to entry based on income, gender, and geography. The benefits for Woo merchants include: Instant Cashflow: Received payments are settled and available for the merchants in real-time. Automatic Conversion: Tokens are automatically converted (e.g. to stablecoins) as part of the payment transaction. Unmatched token acceptance: By using DeFi, DePay grows the amount of accepted tokens by a hundredfold. About DePay DePay pioneers Web3 Payments with the power of DeFi. Driving mass adoption of blockchain-based payments, DePay merges the core ideas of decentralization and interoperability with state-of-the-art Web3 technologies.

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Events