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Revolutionizing high-risk payments: Rocketfuel explains how crypto is disrupting traditional banking

August 08, 2023 at 11:37 AM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

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RocketFuel Blockchain CEO Peter Jensen discusses high-risk payment solutions with Proactive's Stephen Gunnion. High-risk industries often face higher fees for credit card payments.

These industries span various sectors like gambling, gaming, firearms, healthcare, and adult entertainment. Traditional banking systems restrict these payments with high costs and chargeback rates.

Jensen highlights how cryptocurrency offers a solution. RocketFuel provides a crypto-based payment system that eliminates chargebacks and declines. Transactions are guaranteed, and merchants can save on fees, passing some benefits to customers. Speed, ease of use, and lower transaction fees are among the benefits. Merchants are even offering discounts for crypto payments to incentivize customers.

RocketFuel collaborates with clients to enable crypto payments, reducing sales losses and operating costs.

Jensen sees the crypto space challenging traditional banking due to its efficiency-enhancing technology. He suggests that established financial institutions may be trying to slow down crypto's rise to catch up. Comparing this to the Uber and Lyft disruption, he predicts a struggle between the efficiency of crypto and the control of incumbents in the financial market.