What kind of fees are you going to charge? I guess the use of PLUTUS will depend a lot on the fees.
If they are too high, there is no incentive for people to use it over fiat. If they are comparable to current fiat fees, than it can very well work.
Topic: Pay with Bitcoin -> NFC anywhere! How can we accelerate adoption of Bitcoin? - page 2. (Read 1561 times)
November 12, 2015, 12:47:46 PM
November 12, 2015, 12:41:53 PM
That's some good idea there! It would be wonderful to have a virtual credit card and make payments over NFC terminals using my smartphone. I was also astonished by the symphony on the initial website load and after I read this "It is the symphony of $1.5M in bitcoins being produced each week"
To answer your question, I feel the best way to convince merchants to adopt Bitcoin would be:
1) Introduce them to the benefits of using Bitcoin, mainly if they're accepting credit cards and are to pay a hefty fee of 2.5% over every credit card transaction, Bitcoin could save those fee for them and also drive in Bitcoin customers for them. Somehow we'll have to convince them how the Blockchain technology allows you to be your own bank while transacting with Bitcoins and if any tax benefits are applicable.
2) Bitcoin and virtual forms of payment are a major hype and people will hear the bells ringing at your store if you accept Bitcoin as a payment. This should encourage more customers to visit your store considering that the merchant is accepting Bitcoins as a more unique form of payment.
3) Explain to them how volatility isn't to be worried about, maybe there are some 3rd party services that are able to convert received Bitcoins into fiat instantly, if this is their major concern preventing them from adopting Bitcoins.
4) Try to eliminate any possible misconceptions they have about Bitcoins, the negativity must be let off.
To answer your question, I feel the best way to convince merchants to adopt Bitcoin would be:
1) Introduce them to the benefits of using Bitcoin, mainly if they're accepting credit cards and are to pay a hefty fee of 2.5% over every credit card transaction, Bitcoin could save those fee for them and also drive in Bitcoin customers for them. Somehow we'll have to convince them how the Blockchain technology allows you to be your own bank while transacting with Bitcoins and if any tax benefits are applicable.
2) Bitcoin and virtual forms of payment are a major hype and people will hear the bells ringing at your store if you accept Bitcoin as a payment. This should encourage more customers to visit your store considering that the merchant is accepting Bitcoins as a more unique form of payment.
3) Explain to them how volatility isn't to be worried about, maybe there are some 3rd party services that are able to convert received Bitcoins into fiat instantly, if this is their major concern preventing them from adopting Bitcoins.
4) Try to eliminate any possible misconceptions they have about Bitcoins, the negativity must be let off.
Thanks, here is what we think..
Just like you, we want every merchant to accept Bitcoins and other digital currencies. But the fact is most merchants have been slow to get on board – which is understandable. They’re not clued up about crypto like you, so they’re naturally sceptical about it. And a merchant that starts to accept Bitcoin is still a notable celebration that echoes on the community message boards.
We want to change that. The problem is we have a big chicken and egg issue with Bitcoin. Without enough merchants, Bitcoin will struggle to become mainstream. But without mainstream use merchants don’t have enough incentive to accept it. Take NFC contact-less card payments, for example. Three years ago the market was at a standstill at around £650m. It has since grown tenfolds and is predicted to reach £17.7 billion next year in the UK alone. This is thanks to a small company called Transport of London, which was one of the first merchants to accept contactless payments, moving us faster towards a cashless society.
Plutus solves this problem by circumventing it. Instead of trying to dig a tunnel through the mountain, we’ve built a fast road around it.
Merchants will follow the trend as they have done in the past. But even if they don't, you can still pay with Bitcoin and NFC, which is why we built Plutus to help the community spend their Bitcoin at any merchant they want instead of having to wait for widespread merchant adoption. They may notice that there is an entire profit industry built on their reluctance to accept it, and that they are greatly reducing their margins. Merchants usually only respond to market pressure and cold hard stats. The main point is that users shouldn't have to wait for merchants to wake up and engage them.
November 12, 2015, 12:14:18 PM
That's some good idea there! It would be wonderful to have a virtual credit card and make payments over NFC terminals using my smartphone. I was also astonished by the symphony on the initial website load and after I read this "It is the symphony of $1.5M in bitcoins being produced each week"
To answer your question, I feel the best way to convince merchants to adopt Bitcoin would be:
1) Introduce them to the benefits of using Bitcoin, mainly if they're accepting credit cards and are to pay a hefty fee of 2.5% over every credit card transaction, Bitcoin could save those fee for them and also drive in Bitcoin customers for them. Somehow we'll have to convince them how the Blockchain technology allows you to be your own bank while transacting with Bitcoins and if any tax benefits are applicable.
2) Bitcoin and virtual forms of payment are a major hype and people will hear the bells ringing at your store if you accept Bitcoin as a payment. This should encourage more customers to visit your store considering that the merchant is accepting Bitcoins as a more unique form of payment.
3) Explain to them how volatility isn't to be worried about, maybe there are some 3rd party services that are able to convert received Bitcoins into fiat instantly, if this is their major concern preventing them from adopting Bitcoins.
4) Try to eliminate any possible misconceptions they have about Bitcoins, the negativity must be let off.
To answer your question, I feel the best way to convince merchants to adopt Bitcoin would be:
1) Introduce them to the benefits of using Bitcoin, mainly if they're accepting credit cards and are to pay a hefty fee of 2.5% over every credit card transaction, Bitcoin could save those fee for them and also drive in Bitcoin customers for them. Somehow we'll have to convince them how the Blockchain technology allows you to be your own bank while transacting with Bitcoins and if any tax benefits are applicable.
2) Bitcoin and virtual forms of payment are a major hype and people will hear the bells ringing at your store if you accept Bitcoin as a payment. This should encourage more customers to visit your store considering that the merchant is accepting Bitcoins as a more unique form of payment.
3) Explain to them how volatility isn't to be worried about, maybe there are some 3rd party services that are able to convert received Bitcoins into fiat instantly, if this is their major concern preventing them from adopting Bitcoins.
4) Try to eliminate any possible misconceptions they have about Bitcoins, the negativity must be let off.
November 12, 2015, 11:58:45 AM
Our team is currently working on a platform that will make it possible to pay with Bitcoin at any NFC terminal in the world. Our goal was to make it more decentralized than others. This is why we have created a decentralized exchange where traders will immediately purchase your bitcoins, which automatically charges your virtual NFC credit card with the local currency of your merchant. This makes Bitcoin NFC payments fast and seamless without having to wait for adoption.
PLUTUS.it is a world where everyone accepts Bitcoin.
You can check out our website and sign up for updates: http://plutus.it (we launch in Q1 of 2016)
But speaking of Bitcoin adoption, what we really wanted to do is ask the community - what are your best ideas for convincing merchants to view Bitcoin as a serious currency? You will get a chance to be an early adopter of Plutus and be one of the first to test the beta.
We really want to know how Bitcoin can be spread effectively through social media and word of mouth, and we believe that some of you will have clever ideas to contribute. Let's try and start a Bitcoin revolution. We'd love any feedback you can throw our way.
PLUTUS.it is a world where everyone accepts Bitcoin.
You can check out our website and sign up for updates: http://plutus.it (we launch in Q1 of 2016)
But speaking of Bitcoin adoption, what we really wanted to do is ask the community - what are your best ideas for convincing merchants to view Bitcoin as a serious currency? You will get a chance to be an early adopter of Plutus and be one of the first to test the beta.
We really want to know how Bitcoin can be spread effectively through social media and word of mouth, and we believe that some of you will have clever ideas to contribute. Let's try and start a Bitcoin revolution. We'd love any feedback you can throw our way.
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