Should I Build It Should I Build It
11 May 2025
Payments

I'm looking to build a web app to support merchant payment than is ...

...running on blockchain to solve the real-world problem

Confidence
Engagement
Net use signal
Net buy signal

Idea type: Swamp

The market has seen several mediocre solutions that nobody loves. Unless you can offer something fundamentally different, you’ll likely struggle to stand out or make money.

Should You Build It?

Don't build it.

Your are here

Your idea of a blockchain-based merchant payment web app falls into a crowded space where many solutions haven't gained significant traction. Our analysis identifies this category as a "Swamp," indicating that numerous mediocre solutions exist, and it's tough to differentiate. With 13 similar products already out there, competition is high, making it harder to stand out. The average engagement (number of comments) is low at 1, suggesting that these existing solutions have failed to generate much excitement or discussion. Given these factors, and the fact that our 'Should you build it?' recommendation for this category is 'Don't build it.', you should seriously reconsider your approach. The lack of positive 'buy' or 'use' signals from similar products further underscores the challenges you'll face.

Recommendations

  1. First, deeply investigate the reasons why current blockchain payment solutions haven’t achieved widespread adoption. Understand their shortcomings, user pain points, and why merchants are hesitant to embrace them. For example, users have found the explanation of recurring crypto payments unclear and questioned the unique features in similar solutions.
  2. If you're still determined to proceed, identify a specific, underserved niche within the merchant payment ecosystem. Instead of trying to be a one-size-fits-all solution, focus on a particular industry, transaction type, or geographic region with unique needs. For example, you could focus on merchants selling digital goods who are seeking platforms to sell via crypto.
  3. Consider developing tools or integrations for existing payment processors rather than building a competing platform from scratch. This could involve creating plugins, APIs, or add-ons that enhance the functionality of established systems and make it easier for merchants to adopt blockchain payments incrementally. One user offered integration help, providing contact details, so this could be a promising avenue.
  4. Explore adjacent problems that might be more promising and less crowded. Perhaps there's a need for better crypto-to-fiat conversion services, enhanced security protocols, or user-friendly wallets designed specifically for merchants. The goal is to identify a pressing need that isn't already being adequately addressed.
  5. Given the challenges and competition in the blockchain payment space, seriously consider whether your time and resources might be better spent on a different opportunity. Evaluate your passion for this particular problem versus other potential ventures that may offer a higher likelihood of success.
  6. Explore integrating with platforms like Shopify, as there's expressed user interest. Provide clear explanations of your product's capabilities, especially regarding recurring crypto payments, as users have found this confusing in similar products.
  7. Differentiate your product from existing technologies like ERC 4337 and services like CoinPayments. Clearly outline the unique features and benefits your solution offers compared to competitors. For example, you could address the absence of a merchant panel and payment notifications noted in ERC 4337.

Questions

  1. What specific regulatory hurdles might you encounter when facilitating blockchain-based payments for merchants, and how will you navigate them?
  2. Given the limited engagement with existing blockchain payment solutions, what innovative strategies will you employ to attract and retain merchants and their customers?
  3. How will you address the volatility of cryptocurrencies and mitigate the risk of losses for merchants who accept them as payment?

Your are here

Your idea of a blockchain-based merchant payment web app falls into a crowded space where many solutions haven't gained significant traction. Our analysis identifies this category as a "Swamp," indicating that numerous mediocre solutions exist, and it's tough to differentiate. With 13 similar products already out there, competition is high, making it harder to stand out. The average engagement (number of comments) is low at 1, suggesting that these existing solutions have failed to generate much excitement or discussion. Given these factors, and the fact that our 'Should you build it?' recommendation for this category is 'Don't build it.', you should seriously reconsider your approach. The lack of positive 'buy' or 'use' signals from similar products further underscores the challenges you'll face.

Recommendations

  1. First, deeply investigate the reasons why current blockchain payment solutions haven’t achieved widespread adoption. Understand their shortcomings, user pain points, and why merchants are hesitant to embrace them. For example, users have found the explanation of recurring crypto payments unclear and questioned the unique features in similar solutions.
  2. If you're still determined to proceed, identify a specific, underserved niche within the merchant payment ecosystem. Instead of trying to be a one-size-fits-all solution, focus on a particular industry, transaction type, or geographic region with unique needs. For example, you could focus on merchants selling digital goods who are seeking platforms to sell via crypto.
  3. Consider developing tools or integrations for existing payment processors rather than building a competing platform from scratch. This could involve creating plugins, APIs, or add-ons that enhance the functionality of established systems and make it easier for merchants to adopt blockchain payments incrementally. One user offered integration help, providing contact details, so this could be a promising avenue.
  4. Explore adjacent problems that might be more promising and less crowded. Perhaps there's a need for better crypto-to-fiat conversion services, enhanced security protocols, or user-friendly wallets designed specifically for merchants. The goal is to identify a pressing need that isn't already being adequately addressed.
  5. Given the challenges and competition in the blockchain payment space, seriously consider whether your time and resources might be better spent on a different opportunity. Evaluate your passion for this particular problem versus other potential ventures that may offer a higher likelihood of success.
  6. Explore integrating with platforms like Shopify, as there's expressed user interest. Provide clear explanations of your product's capabilities, especially regarding recurring crypto payments, as users have found this confusing in similar products.
  7. Differentiate your product from existing technologies like ERC 4337 and services like CoinPayments. Clearly outline the unique features and benefits your solution offers compared to competitors. For example, you could address the absence of a merchant panel and payment notifications noted in ERC 4337.

Questions

  1. What specific regulatory hurdles might you encounter when facilitating blockchain-based payments for merchants, and how will you navigate them?
  2. Given the limited engagement with existing blockchain payment solutions, what innovative strategies will you employ to attract and retain merchants and their customers?
  3. How will you address the volatility of cryptocurrencies and mitigate the risk of losses for merchants who accept them as payment?

  • Confidence: High
    • Number of similar products: 13
  • Engagement: Low
    • Average number of comments: 1
  • Net use signal: 5.0%
    • Positive use signal: 5.0%
    • Negative use signal: 0.0%
  • Net buy signal: 0.0%
    • Positive buy signal: 0.0%
    • Negative buy signal: 0.0%

This chart summarizes all the similar products we found for your idea in a single plot.

The x-axis represents the overall feedback each product received. This is calculated from the net use and buy signals that were expressed in the comments. The maximum is +1, which means all comments (across all similar products) were positive, expressed a willingness to use & buy said product. The minimum is -1 and it means the exact opposite.

The y-axis captures the strength of the signal, i.e. how many people commented and how does this rank against other products in this category. The maximum is +1, which means these products were the most liked, upvoted and talked about launches recently. The minimum is 0, meaning zero engagement or feedback was received.

The sizes of the product dots are determined by the relevance to your idea, where 10 is the maximum.

Your idea is the big blueish dot, which should lie somewhere in the polygon defined by these products. It can be off-center because we use custom weighting to summarize these metrics.

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