WhiteFlo introduces white-label crypto payment processing software available to all businesses

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Riga, Latvia–(Newsfile Corp. – Dec. 20, 2022) – WhiteFlo has launched software for crypto payment processors that can improve the service delivery of any payment institution, neobank and many others.

WhiteFlo has created a ready solution – crypto payment processing software that can be hosted on the payment institution’s servers. WhiteFlo is an alternative to developing cryptographic processing software from scratch, as it is hosted on-premises. This means that the payment institution has full access to the code, which results in various advantages ranging from saving time on the development cycle to full customization and even eliminating the need to share revenue with companies. offering a SaaS (Software-as-service) alternative.

WhiteFlo is backed by Axioma, a development company with over a decade of experience building fintech and blockchain solutions for a wide range of clients.

Based on WhiteFlo software, 4 products can be launched

Based on the software developed by WhiteFlo, there are four different products that different companies can use.

1. Crypto Processing Software for PSPs and EMIs via API is ideal for PSPs (Payment Service Providers), EMIs (Electronic Money Institutions) and Neobanks. These companies can offer their customers the ability to operate with crypto by adding cryptocurrency payment infrastructure.

2. Instant Crypto Exchange and Business Wallet Software: Enables end users to receive, store and exchange cryptocurrency with each other and fiat currency.

3. Self-hosted software for crypto payment service providers: With the software, customer merchants can accept cryptocurrency payments.

4. Fiat-to-Crypto Transactions Software: WhiteFlo allows end users to instantly purchase cryptocurrency with Visa or MasterCard.

Why Crypto Payment Processing Is Critical

Nowadays, more and more customers around the world are looking for ways to pay with cryptocurrency.

According to the June 2022 PYMNTS report, one-fifth of consumers surveyed admitted to owning a cryptocurrency. This is a significant increase from a year earlier (16% in 2020 versus 23% in 2021).

The story continues

WhiteFlo aims to prepare payment institutions with a cryptocurrency payment infrastructure.

“Over the past year, our team at Axioma has been asked several times to develop software for Crypto Gateway companies. Similar requests over a short period of time indicated that the market needed a solution like WhiteFlo, we have therefore decided to develop the new product and offer it to this specific market niche,” says Konstantin Rukin, founder of WhiteFlo.

Existing solutions

Before WhiteFlo, there were two possible scenarios for a payment provider to add crypto processing to their product list. Either to develop software from scratch or to purchase the ready-made software-as-a-service (SaaS) solutions. Both of these paths have their own drawbacks.

WhiteFlo Dashboard

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WhiteFlo vs software development from scratch

When the Software is developed from scratch, it is a) expensive and b) time consuming.

Hiring a development team or engaging current technical specialists in the development project of a cryptocurrency payment infrastructure software can be costly. Not only in direct investment, but also in opportunity costs – the company never knows how long it will take, the iterations and how it will affect its other product offering.

WhiteFlo vs. SaaS

While software-as-a-service solutions exist, there are several significant advantages to purchasing self-hosted software over SaaS solutions.

First, with SaaS, the user depends on the owner of the software. Crypto payment service providers cede control of their crypto products to a third party. Other implications follow, such as security, privacy, and other issues.

Second, besides setup fees, most SaaS also ask for recurring payments representing revenue share from fiat-to-crypto transactions.

Third, since the company does not own the software, it is impossible to make customizations to it. Any custom requests can only be made through the SaaS company if they agree to them.

Modern solutions for modern financial needs

Financial borders are erased. Today, cryptocurrency exchanges seek to provide traditional financial tools as a one-stop-shop or “super-app”.

The biggest neobanks see their customers send money to crypto exchanges and thus add crypto products to the platforms. This is what the modern financial age is all about – individuals or businesses are looking for financial service providers with the most comprehensive toolkit to choose from.

To learn more about how businesses can add the technical infrastructure for cryptocurrency payments, contact:

Marija Petersone+371 2 60 59 [email protected], Latvia

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/148562

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