RocketFuel Introduces Industry-First “Price Settlement Guarantee” to Protect Merchants from Crypto Volatility
New price guarantee removes settlement risks for merchants while increasing the speed and efficiency of their checkout experience
RocketFuel (“RocketFuel” or the “Company”), a global provider of crypto payment solutions, announced what it believes to be the industry’s first “Price Settlement Guarantee,” which allows merchants to always receive deposits equal to the listed price of goods sold without ever being affected by crypto-to-fiat exchange rate fluctuations. With RocketFuel, merchants can now fully capitalize on their sales without having to worry about rejecting orders due to a lower value of final settlements.
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Similar to foreign exchange transactions, incoming cash deposits from crypto payments can fluctuate due to volatility in conversion rates, which makes it challenging for merchants to receive the full listed price of the product after an order is placed. When this happens, merchants are forced to either accept the lower settlement, contact the customer to request additional funds or decline the transaction altogether — all of which negatively impacts merchants and makes it difficult to forecast profitability.
RocketFuel is the only crypto payments solution provider that guarantees merchants will receive full settlement for the price of goods or services purchased. As soon as the customer pushes ‘send,’ RocketFuel locks in the price at the current exchange rate and settles the transaction at that rate, regardless of how the market has fluctuated in the interim.
This ensures that merchants enjoy all of the benefits that crypto payments provide – low fees, fast cross-border transactions, no chargebacks, and no declines while being protected from any downside risk in exchange rate fluctuations.
“Reconciling crypto deposits from online orders has always been a time-consuming exercise. The same $100 flight ticket can show up in our system as $98.53 or $99.01 after crypto-to-dollar conversion, which leads to confusion and ultimately losses in revenue. Providing online merchants with an automatic price settlement guarantee is definitely a step in the right direction,” said Randy Alleyne, CEO of Sky-tours, a discount travel fare provider.
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“RocketFuel has always looked for ways to help merchants improve sales and access to customers worldwide. Our new Price Settlement Guarantee takes this to the next level by making it easier for merchants to accept crypto payments without any exchange rate risk. This merchant-friendly approach makes the crypto payments experience easier and more accessible to merchants so they can focus on growing their business and not back-office reconciliation tasks,” said Peter Jensen, CEO of RocketFuel.
