The use of blockchain is not restricted and will soon impact the E-commerce industry. According to Statista, the blockchain market is expected to grow at a staggering rate with an uphill surge of 400%. Blockchain has transformed the way people transfer money using various types of commodities that can navigate its way into the E-commerce industry. As one of the leading and vertical-leading industries, the E-commerce industry will continue to skyrocket in 2020. Executing blockchain in the E-commerce industry can provide adequate benefits for customers who can seamlessly pay for online products without any success blockers. Every ecommerce app development company is not only creating an online shopping platform but leveraging a seamless payment gateway option to help customers buy faster. The following are a few reasons using Blockchain can help you enhance the customer experience of your E-commerce store.
- Lowering Costs
By using Blockchain technology, E-commerce stores can make it easier for customers to pay for online products. This can lower the cost of customers paying directly through your payment gateway options offered on your E-commerce store. With the help of Blockchain, you can reduce the increasing cost of the middleman who ships the products to all customers. Every customer can use blockchain to pay for online products seamlessly and securely. Moreover, blockchain developers working in leading ecommerce App Development Company are creating top-notch blockchain techniques for the purpose of eliminating fraud detection to third-party transaction methods and product duplicity, blockchain can provide numerous benefits to various E-commerce stores.
- Removing Paper Receipts
Using blockchain successfully removes the requirement of receipts and real-time warranties. With the help of Blockchain, E-commerce stores have an all-in-one payment option where the customers can pay without tracking any type of receipts or shipping data. The use of Blockchain removes different types of third-party interference while helping leading E-commerce stores to protect sensitive data and sell high-end products. The company can offer personal information at any time on the customer’s request to access the receipts and warranties. Blockchain can offer simpler access to E-commerce stores and customers who need to access warranty and receipts.
- Online Payments
Cashless payments are becoming increasingly popular in the E-commerce industry. And, customers and E-commerce stores can access payments directly on the blockchain without the requirement of any type of transaction fees. From paying a large amount of money to online retailers to smaller fees, blockchain technology allows everyone to pay seamlessly. Using Blockchain to access payments of an E-commerce store has made everything simpler in the industry. In this way, every leading online retailer can exist on the blockchain to offer better payment options to their customers. Peer-to-peer transactions have helped many E-commerce stores and customers to transfer money without using a third party. Moreover, the mobile app developers working in any top-rated ecommerce app development company are not only creating payment gateways but also keeping track record of transaction parameters to ensure improved confidentiality and security metrics.
- Customer Privacy
From ensuring customer privacy to giving adequate options to customers to pay online, the usage of Blockchain can boost your E-commerce store privacy. With the help of Blockchain, you have an online transaction ledger where financial and personal data is consumed. Every consumer is in the form of an address on the blockchain which prevents them from sharing personal data or IP addresses.