The idea is to provide a full cycle using cryptocurrencies for everyday payments for users and merchants. Our product is an Omni-channel Payment Processing - international payment gateway with multilingual interfaces and connectivity with alternative online and offline payment methods worldwide. Further, it consists of multi-currency, multi languages, subscriptions and trial periods, integrated anti-fraud solutions, reporting, solution for promo campaigns, discounts and gift codes, and the ability to create virtual currencies and much more.
Current Status
Working business – White Label payment solution.
Market
Merchant payment market stays one of the most attractive segments. By 2021 worldwide retail sales are expected to grow to $28 trillion, 16% of which will be Ecommerce.
Crassula is starting from Europe, expanding to the markets of Latin America, the Middle East, Asia, and South Africa.
Problem or Opportunity
A number of cryptocurrency users grows by millions every month.
Less than 1% of merchants accept cryptocurrencies, so the users are left with very undeveloped infrastructure that doesn’t allow to use cryptocurrencies in casual payments.
Current payment processing infrastructure is operated by centralized networks. These financial structures are in change of the operations and security, which results in significant amount of transaction costs and high exposure to fraud and risks. Blockchain partially solves these problems, but still remains slow and expensive payment method.
Solution (product or service)
Crassula was created to bring transparency and security to the payment processing infrastructure along with adoption of cryptocurrency payments to everyday life by offering clear and convenient payment solutions for clients, merchants, enterprises and financial institutions. We’re doing this by launching 3 products: Crassula Wallet, Crassula Pay and Crassula Open.
Crassula Wallet is a toolkit that allows to buy, hold, send and spend cryptocurrencies along with fiat currencies for everyday payments. It even allows to make traditional operations like SEPA or SWIFT international transfers with cryptocurrencies both for private and business clients.
Crassula Pay - decentralized gateway that allows merchants to accept leading cryptocurrencies online and at retail point of sales. Decentralized system controls double-spending, eliminates fraud and chargebacks. Lightning Network technologies provide high processing speed and low fees, which allows the use of cryptocurrencies even for microtransactions.
Crassula Open will make Ecosystem available for everyone, allowing to create customized White Label wallets or payment systems, loyalty programs, netting systems and more. Crassula Open will also support trading between cryptocurrencies and create a network of counterparties working within open ledger private blockchain and having the netting transactions that appear in a decentralized system transparent and secure.
Competitors
Payment systems & e-wallets: Category is represented by companies like Coinbase, Bitpay itBit, Bitnet, Monetas, BlockEX, Monetha, TenX, Ripple, Everex etc.
Money remittance companies Category is represented by companies that are performing international bank transfers, such as traditional companies: MoneyGram, Western Union along with more innovative FinTech solutions: Transferwise, Venmo, Azimo, Abra, etc.
Infrastructure products Category is represented by the companies that are developing payments, remittance and netting infrastructure, such as: Ripple, OmiseGo, KickICO and others.
Advantages or differentiators
Taking into account all competitive categories of companies, Crassula represents a symbiosis of services available on the market, erasing barriers for its users. Crassula has already launched online payments and will extend services for merchants with ability to use digital and fiat currencies, along with other services available on the platform. Crassula will make cryptocurrency more human by enabling payments everywhere online and offline, allowing traditional payments using cryptocurrencies, payment with microtransactions and allow people to enjoy the development of blockchain technologies in the world of payments. Crassula will not only allow merchants to accept cryptocurrencies online, but will bring them offline to the retail points of sale, offering merchants low processing fees and opportunity to easily accept cryptocurrencies. Crassula services promote the popularization of cryptocurrency usage for everyday lives of digital currency holders. Crassula Open allows to create White Label payment solutions, loyalty programs, netting systems with decentralized transaction recording on blockchain. Industry agnostic system will enable both SMBs and Enterprises as well as financial organizations to create the blockchain solutions that benefit specifically for their industry.
Finance
Crassula is a working business, generating revenues and even more, we’re profitable. We’re processing more that 70K transactions monthly, servicing more than 300K paying users, so Crassula has a strong starting point for product adoption among the existing clients.
Business model
Currently we charge 5K EUR set-up fee and 0,003 – 0,08 EUR per transaaction fee. After launch of clients and merchant services we'll be charging payment processing fees:
Balance top-up bank transfer: 0,1%
Balance top-up credit card - 4.99%
Transfers within Crassula system: 0,1%
Merchant fee - Ecommerce 1%
Merchant fee - POS 1,2%
