5 Web-Based Companies Expanding Consumer Appeal By Accepting Crypto Payment

Companies Expanding Consumer Appeal By Accepting Crypto Payment – Tech Stack Crunch

Our overview of customer service software labels customer service as the top priority for “every company out there.” This assertion is justified via the simple, universal formula that happy customers, who feel well taken care of, are more likely to keep returning to spend more money.

In our modern, thoroughly online times, providing effective customer service is arguably a more complex process than ever before. Broadly speaking, online customers need to feel that they can explore websites with ease; that their concerns are properly addressed; that their information is secure; and that products and/or services meet their needs. On top of these core concerns, digital customers today also place significant stock on how they’re able to pay.

More specifically, online customers today want payment options. Per recent data on eCommerce preferences, it is clear that younger generations, in particular, are increasingly interested in paying with credit card alternatives. To that point, more than 32% of millennials cite PayPal as a preference. Furthermore, more than 60% of millennials and more than 50% of Gen X respondents prefer to do the majority of their shopping digitally. Consider all of this data together, and it’s clear that more people are shopping on the internet, and they’re interested in exploring different ways to pay for goods and services.

To date, this preference has been met by what we might refer to as third-party payment processing companies. Many, if not most online companies and retail platforms now support not only digital credit card payments but also transactions through PayPal and some similar services. More recently, another option altogether has entered the fray in the form of cryptocurrency. And while there are justifiable doubts about the long-term potential of “digital currency,” there is also something to be said for embracing variety as a form of customer service.

With this in mind, we want to highlight five web-based companies that have successfully embraced cryptocurrency as a digital payment option.

1 – ExpressVPN

For those who may not be familiar, “VPN” stands for “virtual private network.” VPN businesses sell access to these networks (typically on subscription models), and customers use them in order to ensure that their internet activity is more private and more secure. The use of VPNs has become quite widespread in recent years, and alongside increased demand, there are now countless companies providing networks. Per a recent listing of the best VPNs of 2022, however, ExpressVPN is at the top of the heap.

This company boasts strong ratings based on leak avoidance, affordable pricing, and low loss of speed (given that using VPNs generally cuts down on internet speed marginally). But it has also made an effort to expand its customer appeal by embracing crypto payments. Specifically, users can pay for ExpressVPN using Bitcoin, Ethereum, XRP, and a host of stablecoins.

2 – Big Fish Games

Big Fish Games describes itself as a “casual gaming company,” providing everything from PC games, to app titles, to casino experiences. It has been active online since 2002 but has become ever more prominent. Some of the company’s most popular games today include various versions of solitaire, as well as drop-style puzzle games (think Bejeweled) like Gummy Drop and Cascade.

How you pay for Big Fish Games depends to an extent on which platform you’re purchasing them. The company primarily supports traditional payments via credit cards and processors. However, it has also partnered with Coinbase to support Bitcoin transactions.

3 – Ignition Poker

Alongside dynamic gaming companies like Big Fish Games, a handful of poker platforms have gotten in on the crypto trend as well. According to a thorough guide to playing real-money online poker, most sites still offer “traditional” methods for funding accounts –– such as “credit cards, debit cards, ACH and bank transfer deposits.” The guide also knows that Bitcoin is becoming a popular option, however, and this has, in fact, brought about the rise of some new poker gaming platforms altogether.

Accordingly, there are a few companies we could list in this space. Ignition Poker, however, has become the most prominent. Essentially a full-fledged online casino (offering slot and table games in addition to poker), Ignition has made a major name for itself in recent years. It has also earned publicity through its acceptance of major cryptocurrencies, as well as its promotion of crypto-oriented tournaments and gaming events.

4 – NewEgg

Six or seven years ago, it was seen by many as a foregone conclusion that online retail would widely embrace cryptocurrency. More recently, assessments of retail attitudes toward cryptocurrency have shown mixed approaches and uncertainty. Retail leaders question whether they are “truly ready” for cryptocurrency, given its volatility, and as a result, there are far fewer opportunities to shop for clothing and goods with digital currency than many expected to see by now.

NewEgg stands as a notable exception. The online shop known for selling electronics, home goods, and recreational equipment has embraced most major cryptos, including “meme” coins such as Dogecoin and Shiba Inu.

5 – Sling TV

Sling TV is among the internet’s most popular cable alternatives. Viewed by many as a primary YouTube TV competitor, it is a subscription-based service whereby users can access large packages of TV programming that would otherwise only be accessible via cable. As of 2022, the service supports some 2.2 million subscribers.

We don’t know how many of those subscribers are paying with cryptocurrency, but we know they have the option. Through a partnership with BitPay, Sling accepts subscription payments in the form of major cryptocurrencies, the aforementioned meme coins, and five different stablecoins with values pegged to the U.S. dollar.

These companies’ success suggests that there is some value in appealing to customers through an embrace of cryptocurrency. This is worth bearing in mind for any online business leader, particularly given the need to consider payment options as a matter of customer service today.

TSC Team
We will be happy to hear your thoughts

Leave a reply

Tech Stack Crunch | B2B SaaS Full Stack Digital Marketing & SEO Solutions