So, did you know that there’s a better way to conduct business with your customers online? Have you ever heard about the latest service called Bitwage? If the above two points and answers sound completely different to you, then you’re making a major mistake. You absolutely should instantly begin accepting only a few varieties of online payment methods when it comes to your customers bitcoin payment processor.
For the uninformed, Bitcoin is a digital currency of the web, and it’s rapidly gaining wide acceptance around the world. Many merchants have begun to accept this latest innovation right from the start, and many are still doing so today. But what most people don’t realize is that the major merchant websites like eBay, Amazon, and Hotmail use the bitcoin payment processor iKobo for this purpose. The difference lies in the fact that they don’t simply outsource the work to a low-cost offshore merchant account provider.
In order to understand why this kind of arrangement makes sense for retailers and sellers, it’s important to take a closer look at how these kinds of businesses operate. Online retailing is one of the most lucrative markets in the world today. Millions of people shop daily on the web, spending an incredible amount of money. With all these individuals searching for great deals on everything from laptops to real estate, businesses quickly begin to find themselves overrun with transactions. The problem is that often these transactions are conducted without any sort of standard payment gateway, leaving both the merchant and buyer at risk.
Fortunately, the technology exists to provide merchants with a way to ensure their clients are receiving their money in a reliable fashion. Payment gateways have been developed that let people pay for online services in a hassle-free way. This means that even if the merchant doesn’t support the most popular form of payments like credit cards, he can still accept some forms of bitcoin payment processor. In fact, many of the better known companies that have chosen to create their own private network for these purposes offer a full range of services to their clients. This includes payment processing through the use of bitcoins.
Since the launch of the bitcoin marketplace, a new breed of businesses have emerged on the scene. These allow users to securely shop for products and make payments using a transactional method that works just as well as that provided by major credit card companies and financial institutions. In order to get into the marketplace, however, merchants usually have to purchase a special kind of “virtual currency” called bitUSD. These businesses, referred to as “bitpay”, let their buyers send in electronic transfers to their virtual payment processors like WorldPay and PayPal.
A good example of a “bitpaymer” is Shopify. This online e-commerce startup allows its customers to make secure purchases on its mobile commerce app. The startup makes money by adding an additional fee to all trades made on its app – a fee it calls “the cost of buying.” As a result, it can afford to offer its members an enhanced shopping experience, with the option of accepting payments in various forms such as bitcoins. And, in doing so, it demonstrates how the dynamics of the marketplace has changed when it comes to ecommerce.
The most widely-used payment methods for the past few years, credit cards, have been replaced by bitcoins as the most widely-used form of online transactions. But as businesses realise the value of this technology, they are starting to explore new payment methods. This is especially true for businesses that do not accept conventional methods for payments such as credit cards. Some of these include businesses like the coffee shop operator Coffee Bar, who already lets its clients pay with bitcoins.
Many of these businesses have also adopted the option of using bitmap as their payment method. However, not all businesses have done this – and some may still be reluctant to do so. The reason why many businesses have chosen to go with bitpay over other payment methods is that it offers a cheaper alternative to the centralized exchange rate mechanism of bitmaps. Furthermore, by providing its customers with a cheaper option to pay for their transactions, the startup is able to charge a lower transaction fee.