Case study: How EdTech Platforms Expand the Availability of Learning through Cryptoprocessing

The educational technology market is growing very fast, reaching $340 billion at the end of last year. Despite this, students who want to buy online services often face serious restrictions when paying for courses. International transfers are delayed for several days and are accompanied by high fees, bank cards and PayPal are unavailable in many countries, and transactions themselves are often blocked. For the EdTech sector, this meant the loss of entire audience segments and lower growth rates.

Decision

Several companies providing educational services from various fields have contacted us at PassimPay. In order for them to be able to accept payments worldwide, we have enabled cryptoprocessing for them. They have access to popular cryptocurrencies with instant and secure transactions, automatic conversion to stablecoins to protect against volatility, an anti-fraud system and transparent financial reporting. Thanks to the ready-made API and widgets, the implementation took minimal time and did not require major changes in the companies' infrastructure.

Results for clients

During the first months after the launch of cryptoprocessing, companies noted a 20-30% increase in the number of students from regions with limited banking services. Students joined from 20 new countries — from Latin America, the USA, Europe and even Africa. The rate of payment refusals also decreased, meaning fewer people left the platform due to the complex system on the site. At the same time, the transaction costs themselves were reduced by 10 times, since the exchange rate difference and the bank commission, which is much higher than that of our service, disappeared. 

The payment processing time has been reduced from a few days to several minutes, and for some cryptocurrencies — even to several seconds, which significantly improved the user experience and accelerated the start of training. The companies also noted that their customers had become less likely to contact customer support and overall satisfaction had increased. The fact is that thanks to the anti-fraud system, the number of disputed transactions and refunds has decreased, which has increased student confidence and reduced the burden on the support service. 

"From a marketing point of view, our company has also become more attractive. We are engaged in training in trading and using cryptocurrencies, and it would be strange if we ourselves did not offer a payment option in crypto,"

said a representative of one of the companies.  

Achieve the same result with PassimPay 

The experience of several EdTech companies has once again shown that cryptoprocessing is not just a convenient tool, but a strategic solution for scaling a business. Do you want to repeat the success of these companies? Book a call with our manager and find out how PassimPay's solution can boost your company's standing.