Understanding the Fulfillment-Digital Currency Relationship

Even with the amount of digital media available today, it’s hard to fathom that we now have digital currency systems too. For fulfillment companies, digital transactions mean new opportunities, but also new challenges. Adapting to digital currency systems might take some getting used to, but may be necessary, as it will likely grow into a viable commercial medium–that is, if it isn’t already.

E-Money

Before, money was regulated and handled only by banks and the government. But now, with digital currency, the reach has expanded.

Current examples include PayPal, which serves as a third party for transferring funds using your bank account or credit card, and bitcoins, the first peer-to-peer digital payment system and the first program of its type to be recognized as decentralized digital currency by the U.S. government.

Across the Wires

What does the state of digital money mean to your business? Well, it’s going to potentially have a large impact on how you perform e-commerce and e-fulfillment in the future.

For customer orders and money transfers with business partners, you are going to have to integrate a digital payment and transfer system into your web sites and mobile apps. Here are some notable programs you can use:

• ApplePay: This is the new mobile payment system from Apple, introduced at the time of the iPhone6’s release last year. Some people think that ApplePay means that they will have to augment their existing payment systems with Apple-specific ones. While this isn’t necessarily the case, it might mean having to hire a third party to process payments.

• Akimbo: Released in 2013, Akimbo is a money transfer service partnered with Visa that enables you to receive corporate debit cards and hand them out to clients, colleagues, or other businesses to transfer money across mobile devices, e-mail, and more. You may want to consider researching this option first, but if you need to transfer money fast, Akimbo cards are known to be secure and faster than PayPal.

• BitPay: A partnership between PayPal and Bitcoin, BitPay is becoming one of the most prominent digital money payment programs out there. BitPay allows clients to create orders and check out using their digital money accounts fast and securely.

Need solutions to your product fulfillment problems? APS Fulfillment, Inc. has the knowledge and services to make your direct mail and product fulfillment ventures more successful. Contact APS Fulfillment, Inc. by e-mail at info@apsfulfillment.com, visit their web site at www.apsfulfillment.com, or phone at (954) 582-7450.