NOWPayments, a crypto payment gateway, has launched a new network fee optimization solution. The solution allows NOWPayments’ system to analyze current network fees and pick the most profitable option out of the client’s payout wallets. This feature is beneficial for all businesses but especially those that have over 2000 transactions per day as it helps to earn more from each payment.
Apart from NOWPayments’ service fees, there is also a network fee that is included for each transaction. Sometimes this fee makes up most of the total fees charged for the payment, as it depends on the currency and sometimes can be extremely high and volatile. As a result, it can significantly reduce the income of businesses.
NOWPayments have found the solution not only to pay fewer fees but also to boost the merchant’s revenue. When a user is making a payment via NOWPayments, new smart algorithm will analyze all current fees and automatically pick the most optimal merchant’s payout wallet out of several. This helps businesses to earn more from each transaction. Thanks to this feature, crypto payments become even more accessible, whereas the crypto community gets more use cases for their favourite assets.
To use the feature, there are several simple steps you should undertake:
- Log In to your NOWPayments Account
- Go to “Store Settings” in your Dashboard
- You can find “Network fee optimization” in the “Payment settings” field.
Recently, NOWPayments has also announced a solution that helps to withdraw fiat in limitless amounts in a partnership with Switchere.