Back in 2013, CoinJar’s co-founders, Ryan and Asher, saw a chance to create Australia's first full-service cryptocurrency exchange. Almost 10 years on, CoinJar is proud to be one of the longest-running crypto exchanges in the world. While crypto has changed a lot in the intervening years, CoinJar has always had the same focus – how to make cryptocurrency accessible and useful to everyone, everyday?
CoinJar’s product suite has been designed to eliminate the high barriers to entry and poor UX that plagues the crypto industry. The CoinJar app prioritises speed, simplicity and security – more reminiscent of a banking app than a trading platform – even striking major partnerships with Apple, Google and particularly with Mastercard to deliver Australia’s first crypto-to-AUD Mastercard, which lets customers spend their crypto like cash, everywhere that Mastercard is accepted.
A pioneer in their industry, CoinJar was also the first crypto exchange to sponsor an AFL team – the 2021 Melbourne Demons, who went on to win the premiership. The future has never been rosier or more bullish for CoinJar as they experienced a near six-fold increase in transaction volumes and added new customers three times faster during 2020/21. Let’s take a quick look at how CoinJar achieved this impressive growth and continuous uptick.
Due to the ‘outsider status’ of cryptocurrency, companies like CoinJar have long had trouble finding reliable banking and payments partners.
CoinJar themselves have worked with a number of payment technologies and partners, and have seen rapid evolution not only in the payments space, but also in CoinJar’s own requirements. When it came to upgrading their payments systems, CoinJar needed a payment partner that could offer:
Speed - the ability to move money around lightning quick.
Reliability - high service levels and steady uptime.
Trusted track record - meticulous tracking of all transactions across CoinJar’s full product suite.
Competitive pricing - to help power the next wave of customer expansion.
Enter Zepto, the paytech purpose-built to move money around exceptionally fast, help merchants like CoinJar get their payment settings precisely right, and exceed customer expectations.
Zepto’s Head of Relationships, Suzie Slingsby reached out to CoinJar and explained how Zepto’s growing crypto client base was helping them understand the unique challenges faced by the industry.
From the first conversation with the CoinJar team, it was clear that they were committed to ensuring the best possible customer experience and that working together would provide a meaningful uplift.
Two major factors drew CoinJar to Zepto. Firstly, Zepto allowed CoinJar to simplify and streamline the deposit and withdrawal processes, while also making them, in almost all cases, instantaneous – as well as cheaper than their previous arrangement. CoinJar was also drawn to the technology stack powering the Zepto API, which allowed for a hassle-free implementation.
CoinJar chose to use Enterprise PayID, Zepto’s flagship instant fund transfer product. Designed for crypto, trading and exchange platforms, Enterprise PayID efficiently supercharges millions of transactions each day while delivering the unique, industry-first capacity to activate thousands of PayIDs instantaneously – our way of meeting the customer demands of busy, growing trading platforms. Thanks to the success of Enterprise PayID, Zepto now powers 1.4 million Australian PayIDs, or roughly 13% of all the PayIDs in Australia.
Since CoinJar started using Zepto, they’ve been able to offer their customers improved transaction reliability, simpler payment methods and instant deposits and withdrawals. From a business perspective, it’s also allowed CoinJar to consolidate and simplify their payments backend, as well as giving the CoinJar community peace of mind that when things go awry, Zepto will be able to quickly and efficiently identify the issue and provide a fix.
We found integrating with Zepto to be smooth, quick and painless. The process was well documented and we felt supported every step of the way by the Zepto team – not that we had to ask many questions in the first place!
From the beginning, the synergy was strong, and CoinJar felt that Zepto understood their particular needs really well, as well as understanding the challenges that come with working in such an innovative and sometimes misunderstood industry. Zepto worked hand-in-hand with CoinJar to make big changes seem simple and made it feel breezy to deal with the vagaries of a custom-built codebase.
Working with Zepto has been an absolute dream. They knew the right questions to ask and the right solutions to provide. Thanks to them, the integration with CoinJar’s systems has been quick, straightforward and – crucially for our customers – entirely seamless.
Zepto’s customers choose their own payments adventure, and create their ideal payment environment with granular and accurate reporting, all driven programmatically by a flexible and robust API.
The heart of what Zepto does is enabling businesses to calibrate their payment settings with precision to drive efficiencies and radically improve their customer experience.
Zepto allows modern businesses to rethink what makes sense when it comes to their unique business rhythms and payment flows.
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