TigerDirect made $500,000 in Bitcoin - page 2.

Lauda

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Quote from: Zarathustra on February 03, 2014, 04:31:27 AM

Quote from: BTCisthefuture on February 03, 2014, 01:32:01 AM

So lets say they are paying 2% on plastic charges.... 1% for bitpay. So a 1% saving on every transaction. That's $5,000 in added revenue/savings just by accepting bitcoin. That's pretty cool.

Lets say 1%?? Why should we say such things?

https://bitpay.com/pricing

This makes huge savings for a big company.

Zarathustra

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Quote from: BTCisthefuture on February 03, 2014, 01:32:01 AM

So lets say they are paying 2% on plastic charges.... 1% for bitpay. So a 1% saving on every transaction. That's $5,000 in added revenue/savings just by accepting bitcoin. That's pretty cool.

Lets say 1%?? Why should we say such things?

https://bitpay.com/pricing

BTCisthefuture

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Quote from: Lauda on February 03, 2014, 03:33:06 AM

Quote from: BTCisthefuture on February 03, 2014, 03:28:37 AM

Quote from: retrend on February 03, 2014, 02:17:25 AM

I'd be surprised if a big retailer was paying 2%, more likely around 1.3%.

I don't work in finance or billing etc etc so I have no knowledge of this stuff aside from what I've googled or read about. I've never seen anything below 2% mentioned. I remember the CEO of overstock.com saying in a interview that they pay 2% on transactions. Am I wrong to think 2% is the lowest ? Do you have any references showing otherwise ?

My earlier post was just a guess of course, obviously I don't know the financial working of tigerdirect

Tigerdirect processes more orders than overstock.
If amazon starts accepting btc, I doubt that they would agree to 2%.

Back on track, this is cool. Two (2) big retailers started accepting btc, who is next?

The 2% reference was to credit card companies... not bitcoin..... ive never seen higher than 1% for bitcoin payment processors. Thats the industry standard. There's cheaper options where you can pay a monthly payment and get 0% transactions, but thats up for the company to decide if its worth it. Anyways 2% was in reference to credit card payment processors, not bitcoin payment processors where ive never seen more than 1% being charged to merchants.

Lauda

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Terminated.

Quote from: BTCisthefuture on February 03, 2014, 03:28:37 AM

Quote from: retrend on February 03, 2014, 02:17:25 AM

I'd be surprised if a big retailer was paying 2%, more likely around 1.3%.

I don't work in finance or billing etc etc so I have no knowledge of this stuff aside from what I've googled or read about. I've never seen anything below 2% mentioned. I remember the CEO of overstock.com saying in a interview that they pay 2% on transactions. Am I wrong to think 2% is the lowest ? Do you have any references showing otherwise ?

My earlier post was just a guess of course, obviously I don't know the financial working of tigerdirect

Tigerdirect processes more orders than overstock.
If amazon starts accepting btc, I doubt that they would agree to 2%.

Back on track, this is cool. Two (2) big retailers started accepting btc, who is next?

BTCisthefuture

sr. member

Activity: 364

Merit: 250

Quote from: retrend on February 03, 2014, 02:17:25 AM

I'd be surprised if a big retailer was paying 2%, more likely around 1.3%.

I don't work in finance or billing etc etc so I have no knowledge of this stuff aside from what I've googled or read about. I've never seen anything below 2% mentioned. I remember the CEO of overstock.com saying in a interview that they pay 2% on transactions. Am I wrong to think 2% is the lowest ? Do you have any references showing otherwise ?

My earlier post was just a guess of course, obviously I don't know the financial working of tigerdirect

rat

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once the miners spend their coins, i don't think you will see these numbers sustain themselves.

Sonny

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made $500,000?
more like made $500,000 sales Wink

retrend

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I'd be surprised if a big retailer was paying 2%, more likely around 1.3%.

BTCisthefuture

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Activity: 364

Merit: 250

So lets say they are paying 2% on plastic charges.... 1% for bitpay. So a 1% saving on every transaction. That's $5,000 in added revenue/savings just by accepting bitcoin. That's pretty cool.

CryptoCurrencyInc.com

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Tiger Direct Processes $500,000 in Bitcoin Payments

On Thursday, January 23, 2014, Tiger Direct announced they would start accepting bitcoin as an alternative payment method. While Tiger Direct isn’t the first major online retailer to start accepting bitcoins, they are the first major online electronics retailer to do so.

The Tiger Direct website offers over 200,000 products and is a popular shopping destination for PC users. According to Steven Leeds, the marketing chief at Tiger Direct, “With individuals building their own high-powered PCs with parts offered on our site to mine Bitcoins, it’s a logical fit.”

Tiger Direct has already started utilizing this acceptance as an opportunity to market their Bitcoin mining catalog. Tiger Direct has also partnered with AMD in order to offer a variety of mining-friendly graphic cards.

Since their Thursday announcement, Tiger Direct has processed more than $500,000 in Bitcoin payments. These total was spent on over 2500 separate orders. According to Tiger Direct, $250,000 of that was processed in the first 17 hours following their announcement. Overall, the company processes approximately $2 billion in purchases each year.

http://www.josic.com/tiger-direct-processes-500000-in949-bitcoin-payments

Topic: TigerDirect made $500,000 in Bitcoin - page 2. (Read 2375 times)