Topic: Why are merchants not serious about the advantages of Bitcoin? - page 4. (Read 3468 times)
December 16, 2014, 10:12:12 AM
Not sure if they are allowed to treat credit card customer's differently, there must be some policy that says you can't charge extra if your customer is paying by credit cards.
December 16, 2014, 10:08:32 AM
Actually what you brought up has a point. Instead of letting the credit card companies impose at least a 3% deduction out of the selling price why can't they charge the same selling price and then use the 3% as a discount that goes to the customers that pay in bitcoin. Or is there any restrictions based on a merchant's point of view...
December 16, 2014, 09:46:29 AM
Just ran across this article on how Overstock is not getting as much revenue as they expected with bitcoin:
http://www.coindesk.com/overstocks-2014-bitcoin-sales-miss-projections-3-million/
No one should be surprised. Merchants have been loudly announcing they accept bitcoin all year. And it makes sense for them to accept bitcoin. No chargebacks, forgeries, counterfeiting, no chasing after customers with collections agencies, etc., etc.
But they can't answer one stupid question: Why should I pay them with my bitcoin when I can pay them the same price with a credit card that gives me 2% (or 3% or 5% with my 2nd and 3rd cards right now in certain categories) cash back and allows me to defer payment ~45 days?
Merchants need to get serious if they expect to pick up actual revenue in bitcoin and gain a real advantage against the competition. Offer something like a 5% discount on BTC purchases, sharing the savings they enjoy using BTC. That would give people an actual incentive to accumulate and use BTC. Instead they are treating it like a short-sighted marketing gimmick.
http://www.coindesk.com/overstocks-2014-bitcoin-sales-miss-projections-3-million/
No one should be surprised. Merchants have been loudly announcing they accept bitcoin all year. And it makes sense for them to accept bitcoin. No chargebacks, forgeries, counterfeiting, no chasing after customers with collections agencies, etc., etc.
But they can't answer one stupid question: Why should I pay them with my bitcoin when I can pay them the same price with a credit card that gives me 2% (or 3% or 5% with my 2nd and 3rd cards right now in certain categories) cash back and allows me to defer payment ~45 days?
Merchants need to get serious if they expect to pick up actual revenue in bitcoin and gain a real advantage against the competition. Offer something like a 5% discount on BTC purchases, sharing the savings they enjoy using BTC. That would give people an actual incentive to accumulate and use BTC. Instead they are treating it like a short-sighted marketing gimmick.
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