Tectum makes major headway into the African market and proudly announces Sam’s MotoBike Shop as the latest SoftNote merchant. This is a significant strike in our quest to make Bitcoin and other cryptocurrencies more spendable. More so, this is a major milestone, as Tectum enters into a region with great potential.
This article will share more details about this new merchant and its business offering. It will also highlight the benefits Sam’s MotoBike Shop and every SoftNote merchant will enjoy from Tectum after onboarding.
Sam’s MotoBike Shop – All You Need to Know About This SoftNote Merchant
As the name states, Sam’s MotoBike Shop is a motorcycle repair shop in Ogboju, Nigeria. This new SoftNote Merchant is a local service center in the Egba-Egbema-Ndoni Local Government Area of Rivers State. It specializes in the repairs, sales, and maintenance of the local motorcycles popularly known as Okada in this part of West Africa.
Sam’s MotoBike is a well-recognized shop for top-quality repair service with years of experience under its belt. This SoftNote Merchant has the support of the local populace, thanks to its top-notch customer service.
It is also renowned for quality spare parts for motorbikes. This ranges from tires, brake pads, and engine components to consumables like engine oils, brake fluid, and many more.
Why The Acquisition of Sam’s MotoBike as a SoftNote Merchant is a Major Milestone
With Sam’s MotoBike Shop becoming a SoftNote merchant, it can now receive Bitcoin and other cryptocurrencies as payment. This is the first merchant in Africa – a crypto-centric region that remains largely untapped to this day.
A study by The Banker shows that 35% of people in Nigeria are either investing, trading or holding blockchain tokens. This is a remarkable number, considering that Bitcoin has come under significant scrutiny by the government.
Sometime in 2020, the Nigerian authorities froze the bank accounts of people who traded in crypto as they believed it was used to fund freedom fighters. More recently, the government has detained Binance Executives under some frivolous claims.
The government initially claimed the cryptocurrency exchange was the reason behind the Naira collapse. Surprisingly, the authorities claim that the trading platform is guilty of evading tax. Despite lacking substantial evidence to back its claim, the Nigerian authorities have blocked internet access to crypto trading platforms.
Despite these attacks, the crypto community has grown even stronger. Many crypto users have turned to VPNs to enable them to access these crypto trading websites. Others have created closed Telegram communities where they can safely trade. A LinkedIn study show that crypto users have grown by 9% between July 2022 and June 2023
With more SoftNote merchants in Nigeria and other parts of Africa, individuals in these areas can their crypto directly. They will not have to use VPNs to access crypto off-ramps and incur additional charges and merchant fees.
Benefits of Accepting SoftNote Bills For Payment
There are several benefits that MAYKR Build will enjoy now that they have become a SoftNote Merchant. These incentives apply to every other business owner who partners or is looking to partner with Tectum.
Some benefits include those outlined below:
- Transacting Both Locally and International: SoftNote Bills allow people to send and receive money from anywhere in the world. They are not subject to any form of governmental restriction or policy. Considering this factor, SoftNote Merchants can offer their products and services to anyone in any part of the world. This feature is very beneficial to individuals or enterprises that are into e-commerce.
- Lowest Possible Merchant Commission: firms that use SoftNote as a payment method will only pay a 1% commission on the payments that they receive. This is the best deal on the market, and it will help businesses reduce the cost of operation. Small businesses have stuck to accepting only cash as a means of avoiding the high commission from payment service providers. Tectum offers an excellent alternative.
- Accepting Crypto With Complexities: As mentioned in a previous article, SoftNote is the easiest way to accept Bitcoin payments. Instead of the usual complex process, customers only need to share their barcode for scanning and approve the transaction with their secret code. In fact, people can use SoftNote Bills to spend Bitcoin without owning a blockchain wallet.
- Fastest Completion of Transactions: this payment method is hosted on Tectum – the fastest blockchain in the world. Our network can simultaneously process 1.3 million transactions per second. Therefore, all transactions must be reflected in record time. Merchants do not have to worry about delayed transactions due to network congestion.
- Option to Make an Investment: For those who do not know, merchants can also make money from minting or adding liquidity to SoftNote Bills. If you fill this crypto cash with Bitcoin, Ethereum, or USD Tether, you get a percentage whenever someone uses it. Even without making any effort, you will be earning money.
How to Become a SoftNote Merchant
As shown above, there are several benefits of being a SoftNote merchant. Tectum is open to working with small, medium, and large-scale businesses to help them scale growth. If you want to accept and use this crypto cash for payment, visit the SoftNote Merchant website. Fill out the details on that form with the correct information about your business. The team will reach out to you if your application is successful or if there is a need to request further details.