[2014-08-06] Retailers Who Take Bitcoin Love It

botany

legendary

Activity: 1582

Merit: 1064

Quote from: Chef Ramsay on August 06, 2014, 12:15:25 PM

I wonder if these merchants that start accepting BTC through BitPay are getting tutorials on how offering discounts for usage are not only beneficial for business but are also the preferred or expected way of conducting business using such a top shelf payment system?..

I hope the retailers don't screw up like Air Baltic. Grin

http://www.coindesk.com/airbaltic-accepts-bitcoin-missed-opportunity/

Chef Ramsay

legendary

Activity: 1568

Merit: 1001

I wonder if these merchants that start accepting BTC through BitPay are getting tutorials on how offering discounts for usage are not only beneficial for business but are also the preferred or expected way of conducting business using such a top shelf payment system?..

lucaspm98

sr. member

Activity: 280

Merit: 250

It may take a while (or just a few months) but major retailers will see the benefits and start accepting bitcoin. They won't have to worry about the massive credit card breaches, and avoid fees that hurt their aleady slim margins.

Kprawn

legendary

Activity: 1904

Merit: 1074

Well this alone should be something to rave about --> "As Nichols mentioned, credit card fraud is an impetus. When a transaction is found to be fraudulent, the retailer is forced to pay up. To add insult to injury there's also usually a fine. "It's 90% to 95% of the transaction cost and on top of that they'll hit us with a fee, like $20 on top of a $10 sale," Nichols says.

Another draw for Bitcoin is low transaction fees. While credit card companies can charge up to 3%, Coinbase doesn't charge anything until there's $1 million in sales. Then it takes a 1% cut. "

Companies like BitPay should get non-adopters and adopters together and see, who win the discussion. Grin

Using MtGox as an excuse not to use BTC is absurd, if you take the risk of transaction reversal and the amount of fraudulent credit cards in to consideration.

hilariousandco

global moderator

Activity: 4018

Merit: 2728

Join the world-leading crypto sportsbook NOW!

And so they should love it as the benefits to them are numerous. I only hope more retailers realise this and that there's zero risk to them accepting it. I'm sure many more retailers will come around to it eventually. I think they just need time.

zakoliverz

hero member

Activity: 536

Merit: 500

http://mashable.com/2014/08/06/bitcoin-retailers/

If you've been following the news about Bitcoin, you've probably come away with the idea that the currency is unstable, potentially lucrative and more of a novelty than an actual payment method that people use on a daily basis.

Retailers who take Bitcoin say something different. For them, the currency is a viable, preferable alternative to credit cards that don't carry the same risk of fraud and have lower transaction fees. Merchants say bitoin payments aren't a huge part of their business, but the niche is growing steadily.

Topic: [2014-08-06] Retailers Who Take Bitcoin Love It (Read 746 times)