Cryptocurrency payment platform Crypto.com is introducing a new invoicing feature, that will enable merchants on the platform to generate invoices in BTC, ETH, XRP, LTC, ETH, and Crypto.com coin. They will also be able to send these invoices to customers through the platform itself.
Business operations using crypto is becoming popular gradually. To ease up the process, crypto invoicing is a major feature. As per the latest announcement by Crypto.com, merchants on the platform will now be able to generate and send invoices to customers who pay for goods/services using any of the following digital currencies – BTC, ETH, XRP, LTC, ETH, and Crypto.com coin.
How does Crypto.com invoicing work?
Merchants will have the option to list their products/services on a fiat currency based invoice. Once they send these invoices to customers, they will be able to settle the invoice amount through any one of the above-mentioned digital currencies. Customers can do so using the Crypto Pay feature in the Crypto.com App. Furthermore, the amount paid in crypto will be instantly converted into equivalent fiat of the merchant’s choice.
The firm claimed that the conversion is to ensure that the merchants and customers are not affected by price fluctuations in the crypto space.
Is Crypto Invoicing a trend now?
At the beginning of this month, a crypto firm named NetCents introduced a recurrent billing feature. It also has a full-service invoicing suite. Other companies like OpenNode, Shelli.io, and IOTA have also launched their invoicing software.
Invoicing is a major aspect fo any business transaction. So many firms introducing the feature is definitely a boost towards crypto adoption in enterprises. Moreover, it also instills trust between merchants and customers. Hence, Crypto Invoicing is surely a good step in the quest of bringing about the mass adoption of crypto, especially in the business space.