The metaverse is the latest buzzword that everyone is talking about. However, is it an effective sales channel for retailers? The answer right now for most is no. To be successful, there are obstacles to overcome. Payment processing is one of them.

In reality, all payments, apart from the exchange of cash at the point of sale, are now virtual. Although a company may believe that it must accept alternative payment methods in the virtual world, such as cryptocurrencies like Bitcoin, the use of cryptocurrencies for payment transactions in the metaverse is fraught with difficulties. Why?

Crypto and other digital currencies for payments

Working with cryptocurrencies can be more complicated for companies than with conventional payments. With…