Case Studies, Crypto Payments
Ondato’s Confident Leap to Crypto Payment Processing
Last updated: December 14, 2023 4 min read
Embracing innovation is key to staying ahead. Our latest case study spotlights Ondato, a trailblazer in the KYC and AML industry, and their strategic adoption of cryptocurrency payments through CoinGate.
Ondato, a trailblazing SaaS company in the world of digital identity management, specializes in streamlining KYC and AML-related processes.
Their solutions, encompassing everything from digital identity verification to business customer onboarding, set the standard for online and offline KYC onboarding.
But when it came to modernizing their payment processes, Ondato took a significant step by partnering with CoinGate. Vytautas Urbonas, Chief Marketing Officer at Ondato, shares insights into this pivotal decision.
His insightful narrative reveals how integrating crypto payment solutions not only catered to their client’s evolving preferences but also reinforced Ondato’s position as a forward-thinking leader in the digital compliance space.
Embracing Crypto with CoinGate
“Our clients encouraged us to accept cryptocurrency payments,” says Vytautas. Many of Ondato’s clients, deeply ingrained in the crypto industry, expressed a need for a payment solution that allowed them to transact using digital currencies.
“CoinGate’s system, which automatically converts crypto to a currency that’s more convenient for us, removed any added hassle,” he explains.
Currently, CoinGate payment solution allows to get paid in 70+ cryptocurrencies.
Integration and Implementation
Ondato’s integration of crypto payments through CoinGate was innovatively tailored to their business model. “We use an invoice-based payment process,” Vytautas notes.
This method efficiently bypasses the need for different invoices for each cryptocurrency. “CoinGate takes care of it by offering over 70 cryptocurrency options to our customers.”
Interested in more success stories like this? Check out other CoinGate case studies.
The Impact on Business Success
The shift to crypto payments significantly enhanced the client experience. “It’s been a big benefit to our clients in the crypto industry,” Vytautas remarks.
“They can now use the payment method that feels most natural to them.” This client-centric approach has been instrumental in strengthening client relations and enhancing satisfaction.
Facilitating Growth and Efficiency
“CoinGate has made our lives easier,” Vytautas admits. With features like automatic recurring payments, Ondato has been able to save valuable time and resources. “This has allowed us to invest more in other projects, providing an extra benefit to attract new clients and retain existing ones.”
Ondato’s introduction of cryptocurrency payments was positively received. “Our customers appreciated this additional payment method,” Vytautas shares, highlighting the importance of offering diverse payment options.
When it comes to informing clients about the availability of crypto payments, Ondato keeps it simple. “We inform them of the option during payment discussions,” Vytautas says, ensuring customers are always aware of their choices.
Ondato’s Crypto Payment Statistics
Though less than 1% of Ondato’s clients currently use cryptocurrency payments, the value lies in the convenience and ease it offers those who do choose this method. “The swift invoice processing and variety of currency choices make a significant difference,” Vytautas points out.
A closer look at the cryptocurrencies used for payments at Ondato reveals some interesting trends.
The majority of crypto-based transactions are conducted using USDT (Tether), which accounts for a staggering 94.4% of all cryptocurrency payments. This highlights the preference for a stablecoin linked to the US dollar among Ondato’s clientele.
Other cryptocurrencies, while representing a smaller portion of the transactions, still play a crucial role in diversifying payment options. BNB (Binance Coin), BUSD (Binance USD), and ETH (Ethereum) each account for 1.9% of the transactions.
It’s interesting to note that Ondato has not received any BTC transactions from their customers. This distribution underscores the varied preferences of Ondato’s clients and the importance of offering a wide range of payment options to cater to different needs.
These statistics not only reflect the current state of crypto payments at Ondato but also showcase the evolving landscape of digital currency in business transactions. As the market continues to develop, these figures could provide valuable insights into emerging trends in the crypto payment space.
Ondato’s adoption of CoinGate’s crypto payment solutions highlights the importance of adapting to client needs and staying ahead in the digital finance world. As Vytautas Urbonas puts it, “It’s not just about the percentage of transactions in crypto, but about the convenience and satisfaction it brings to our clients.”
Looking to enhance your customer experience with flexible payment solutions? CoinGate is ready to pave the way for your business’s journey into the world of crypto payments. Start by registering your account.