3 PAYMENT METHOD SCORECARD: STABLECOIN
FX/Cross-Border Cryptocurrencies, and therefore stablecoins, could be considered somewhat of a global currency. Some third-party service providers claim cross border payments using stablecoins are both faster and cheaper than alternatives. 874 Global Usage (POS & Ecommerce) Stablecoins have higher usage in countries with weaker local currencies. Countries with more established payments ecosystems have lower adoption. However, retail use cases are still being established. Authorization/Pre-Authorization Stablecoin transactions are initiated by the user and usually do not have authorization/pre-
User Experience Metrics
Weight Score
POS Speed
10% 2.0 10% 3.5 15% 1.0 15% 5.0 10% 1.0 10% 1.0
Refund Posting Time
Omnichannel
FX/Cross-Border Global Usage (POS)
Global Usage (Ecommerce)
Authorization & Pre- Authorization Recurring Payments
15% 1.0
15% 3.0
TOTAL SCORE
2.3
POS Speed Retail use cases are still being established for stablecoin. The speed of sending stablecoin is dependent on the latency and throughput of the blockchain network the transaction is being sent across. In addition, the wallet addresses are long and random which could lead to user error or increased time to complete the transaction. Refund Posting Time Given stablecoin’s irrevocability, refunds are not possible. However, some providers have created a solution and provide merchants and consumers with the ability to request a refund. If approved, this provider communicates a 1-2 day waiting period. 873 The nature of stablecoins could suggest quicker posting times once a more standard refund process is in place. Omnichannel Stablecoins are usually accessed using a crypto wallet. This has the potential to integrate with other digital wallets, making the omnichannel experience more seamless.
authorization capabilities. Recurring Payments
Service providers are creating ways for users to use their crypto balance to set up recurring payments. 875 876
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