Complex keys, a multi-level security system, and the ability to create an unlimited number of cryptocurrency accounts will protect your data. All these crypto-transactions are openly displayed in a public registry and can be tracked in real time – there will be no more fraudulent chargebacks.
Transactions are conducted through smart contracts that are capable of reporting secure, traceable and transparent transactions. Blockchain creates an immutable distributed record in a database with time stamps for every transaction ever made which makes each transaction and its record easy to track, but also makes them irreversible, preventing double-spending, fraud, misuse and any other type of transaction manipulation.
Since cryptopayments are cheaper than traditional banking payment systems, using cryptocurrency as a payment method leaves lower or zero commissions. The fees charged by cryptopayment providers are at best do not exceed 1% of the total transaction volume. Additionally, there are no more costly and inconvenient currency conversions – paying or collecting payments in digital currency involves no cross-currency settlement and no hassles associated with fiat currency exchange rates and procedures.
Cryptocurrency reclaims the actual ownership of money – it belongs entirely to the owner and is not linked to intermediaries and third parties, such as banks. When paying with cryptocurrency, it’s entirely your choice whether you want to keep the crypto as it is on the blockchain or immediately exchange it for local fiat currency or proceed with other transactions. Moreover, it’s not possible to debit funds from cryptocurrency wallets without the owner’s permission. Therefore, this payment method significantly reduces all these risks.
Thanks to the decentralization of cryptocurrencies, international payments are simplified because there are no ties to the currency policies of individual states. Data is stored not just in one location but many, which allows customers to make transactions without compromising sensitive data.
Unlike traditional bank transfers, cryptocurrency payments are possible at any time of the day or night, around the clock, without holidays or weekends. For one thing, it’s an added convenience, but when it comes to businesses that are running regardless of time zones and local public holidays, the ability to make crypto payments 24/7 becomes a crucial key factor that can ensure business success.
While using cryptoassets, your location in no way affects the speed or cost of transactions. In fact, in most cases, payments are processed in seconds all around the world since cryptocurrency transactions are carried out in a real-time mode and most blockchains tend to settle them immediately.
Currently, crypto payment is integrated with VOOpay, which guarantees security through transparent, traceable and safe financial transactions. VOO users can pay for flights using cryptocurrency, and for every sale made with VOOpay, VOOmiles are accumulated and crypto commissions are credited to the user’s VOO wallet.
Moreover, new features will soon be available to VOO users – an excellent bonus of having different payment options: VOOpay Standard or VOOpay Premium. The latter will allow users to enjoy financial freedom while letting VOO prepay their flights.
