Ok that's BIG News with respect to payment choice, that's direct credit card payment through a merchant account with an issuing bank, and a payment processor.
In this case it's SEB, which is Sweden's largest and most respected bank, and the direct payment processor, not sure doesn't say who. In any case that's proper, that takes massive negotitation w.r.t. interchange fees. I wonder what boxes they had to tick to achieve that. You have to promise a monthly minimum, typically in the tens, if not hundreds of thousands of $dollars (whatever that is in Swedish Krona), and presumably a very large float due to the nature of this business. Definitely a world first for a Bitcoin related business, and certainly significantly harder than just using Paypal to process payments. Congrats, major kudos, someone at SEB is taking these guys seriously.
Hashfast/Cointerra could get Paypal on board if protecting their customer's funds mattered at all to them (well Cointerra would have to drop their price, unless Paypal is willing to make an exception to their $10K transactional limit - they did
promise to accept Paypal), but neither Hashfast, nor Cointerra would be able to offer direct credit card payments with a merchant bank unless they were will to cough up significant funds for whatever issuing bank they would acquire a merchant account from. Apparently KnC has a very healthy set of accounts according to SEB and are not holidaying in the Carribean.
Definitely a major step in the right direction by KnC in offering their customers, and potential customers a means of protecting their pre-order payments. I'm all over Bitcoin payments to them, once they have a product in hand, but after the scams, marketing lies and incompetence endured and continuing on this forum, this makes KnC hands down the only choice for pre-orders in my mind.
The others not accepting Paypal, when they could, and promised to, speaks volumes, they are gambling with customer funds and promising 'simulated' best case chip specs, not the pessimistic worst case KnC are. Under deliver, over promise was what I emailed Sam to do prior to the open day, at the open day, and they have taken to heart as their mantra. These guys are going far, you can't dissapoint when you're honest, and over deliver.
Integrity, you decide who has it, for me it's now blatant. Nuff said, no fanboy crap, look at who treats their customers best, and who treats them with marketing fluff and contempt. It's crystal clear.
Aside from the obvious chip arrival, and delivery, this was the news I was waiting for a mining manufacturer to state. Like to see another attempt this, bet there won't be, because it's clear none of the others gives a damn. I didn't even think it was possible for this business model to get a merchant bank account, apparently it is, in which case what the hell have all the others been doing, oh yeah, gambling with your cash.
Today we can announce we are the first Bitcoin mining manufacturer to offer secure payments directly by credit card. Previously we had used Paypal to process all card transactions, and as ever Paypal is still an acceptable payment method, but now we are authorised by Sweden’s Skandinavisk Enskilda Bank (SEB) with an official merchant account. We continue to offer a choice of payment methods, the choices are as follow;
1). Bitcoin – Our Preferred Currency.
2). Direct Credit Card Payment.
3). Paypal.
4). Wire/Bank Transfer.
We look forward to your continued support.
Thanks,
KnCMiner Team.
P.s. Bargraphics, damn straight!
