The diverse team of professionals at RapidCents, led by the forward-thinking Mani Rahnama, looks poised to challenge the status quo in the world of e-commerce with the launch of the RPS Token. The payment gateway for online businesses created the token to reward businesses using RapidCents process transaction by enabling them to earn crypto cashback from every cash purchase made by consumers.
A report published by Statista stated that more than two billion people made different types of online purchases in 2020, with e-retail sales surpassing $4.2 trillion worldwide during the same year. In a related development, more brands are taking their business online to meet the needs of their customers. Unfortunately, businesses, especially the relatively smaller ones, often find it difficult to process payment, a situation that has restricted their growth and given bigger brands more space to dominate the market. However, RapidCents is looking to change this narrative by allowing more businesses to go online and profit from it with the launch of RPS Token as a crypto giveback to merchants.
Backed by RapidCents, RPS Token has been described as a way for small businesses to earn crypto cashback from every cash purchase consumers make on their website. The token was created as a solution to “the world’s biggest payment issues surrounding cross-border payments and payment processing costs.” RPS Token offers a wide range of benefits to businesses, eliminating the need to purchase crypto separately while getting 100% of the processing fees as cashback in the form of an RPS Token.
The goal is to create a win-win situation for all stakeholders – merchants, payment processors, and even customers, by integrating all companies, employees, and business assets into a unified blockchain ecosystem for enhanced efficiency, transparency, and reliability. It also forms part of the goal of helping merchants to protect their online e-commerce stores from malicious fraudsters, a comprehensive fraud validation on all elements.
RPS token is released on the Ethereum and Bitcoin platforms and is compatible with third-party services wallets and exchanges, with an easy-to-use integration. There are also plans to launch the RPS wallet and marketplace to create a more inclusive ecosystem.