Sparta Commercial Services’ (OTCMKTS: SRCO) SpartaPayIQ is a crypto payment gateway developed for e-commerce and brick & mortar businesses. SpartaPayIQ will also serve as an integral component of another product (www.SpartaCrypto.com) being developed by SRCO to make the company a vertically integrated crypto commerce company.
According to a July 2021 Crypto.com Research Report, there are approximately 221 million cryptocurrency users worldwide holding over $2 Trillion worth of cryptocurrency to spend. That’s why the Global Crypto Payment Gateway Market is expected to grow at a compound annual growth rate (CAGR) of 22.8% over the next six years, according to Brandessence Market Research.
SRCO’s UNIQUE FEATURES TO HELP COMPANY GAIN MARKET SHARE
Sparta Commercial’s (OTCMKTS: SRCO) crypto payment gateway includes several unique features that will make it desirable for merchants.
- Zero Cost Merchant Platform- SpartaPayIQ does not charge the merchant any transaction fees for the conversion. Other cryptocurrency payment platforms charge 1% or higher.
SpartaPayIQ earns its commission on the exchange rate paid by the buyer so it is able to offer a “zero-cost” platform to the merchants. - Eliminates Merchant Conversion Losses- SpartaPayIQ converts payment immediately so the merchant is never actually holding or receiving cryptocurrency. This eliminates the need to manually convert the crypto to fiat, which depending on how long the merchant takes to do the conversion can subject them to market volatility. (Merchants can, however, choose to receive cryptocurrency and convert at their own pace)
- Eliminates Capital Gains Issues- In many cases, merchants accepting crypto payments and converting are subject to accounting issues such as capital gains tax. SpartaPayIQ’s removes these issues by converting the currency before it touches the merchant.
SpartaPayIQ’s ADVANTAGES
SRCO’s SpartaPayIQ™ uses contactless, blockchain-based payment processing technology to instantly convert cryptocurrency payments to USD or other select fiat currencies. This mitigates exposure to market volatility by locking in an exchange rate for fifteen minutes after an invoice is created, guaranteeing that all parties are protected from unpredicted market swings.
The platform currently accepts:
Bitcoin (CRYPTO: BTC)
Ethereum (CRYPTO: ETH)
Bitcoin Cash (CRYPTO: BCH)
Litecoin (CRYPTO: LTC)
Dogecoin (CRYPTO: DOGE)
USDT (CRYPTO: USDT)
The company is also open to adding currencies as they gain wider adoption.
The payment can settle in USD or EUR. Businesses also have the option to keep the cryptocurrency if they don’t want to immediately convert it allowing them to take advantage of potential breakouts in value.
MAJOR MILESTONE FOR SRCO
Sparta’s CEO Anthony Havens, calls SpartaPayIQ a “milestone for the company.” SpartaPayIQ™ will operate under Sparta’s subsidiary, SpartaCrypto, Inc.
KEY TAKEAWAYS
-SRCO’s SpartaPayIQ is a vertically integrated crypto payment gateway
-Crypto Payment Gateway Market is expected to grow with the CAGR of 22.8% over the next six years
-SRCO is in a position to secure a sizeable market share due to its unique advantages including Zero Merchant Fees, Tax Protection, and Zero Risk to Merchant Conversion System
-SRCO could have several catalysts as it begins to gain adoption of this exciting gateway
Start your research today on SRCO.
This article is part of a sponsored investor education program.
