{"id":28111,"date":"2017-07-03T04:00:00","date_gmt":"2017-07-03T08:00:00","guid":{"rendered":"https:\/\/goebt.com\/https-blog-cdesolutions-com-2017-07-bitcoin-where-do-payment-processors-stand\/"},"modified":"2025-04-02T14:49:21","modified_gmt":"2025-04-02T18:49:21","slug":"bitcoin-where-do-payment-processors-stand","status":"publish","type":"post","link":"https:\/\/goebt.com\/bitcoin-where-do-payment-processors-stand\/","title":{"rendered":"Bitcoin: Where Do Payment Processors Stand?"},"content":{"rendered":"<p><span id=\"hs_cos_wrapper_post_body\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_rich_text\" style=\"\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"rich_text\"><\/p>\n<p><em><strong>Bitcoin has frequently been the topic of discussion in the financial and payments industry.<\/strong><\/em>&nbsp; Although the anonymous virtual currency has long been associated with the black market and fraud, the reputation for bitcoin has changed in recent years.&nbsp; Today, accepting bitcoin for goods and services is an opportunity for all kinds of merchants and many are taking advantage.&nbsp; Now, payment processors are presented with the challenge of adapting to the new currency and creating their own solutions for merchants who want to accept it.<\/p>\n<p> <!--more--><\/p>\n<p><strong>What are the benefits to merchants?<\/strong><\/p>\n<p>Accepting bitcoin can actually be a faster and cheaper alternative to traditional payment methods.&nbsp; Merchants both in brick and mortar store fronts and online can accept bitcoins with very low transaction fees and practically no settlement wait time.&nbsp; With bitcoin, no personal identity is attached to the funds being exchanged so there is no way for hackers to steal personal data from transactions.&nbsp; Also, there is no chance for chargebacks when it comes to bitcoin payments, as the exchange is final and confirmed on the blockchain.<\/p>\n<p><strong>What\u2019s available now?<\/strong><\/p>\n<p>Today, there are a number of processors available for merchants to use to accept bitcoins as payment.&nbsp; Here are just some of the most popular names in bitcoin acceptance solutions:<\/p>\n<ul>\n<li><a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;uact=8&amp;ved=0ahUKEwjMmf2BqPXUAhVE7yYKHb4eBUoQFggoMAA&amp;url=https%3A%2F%2Fwww.bitpagos.com%2Fen%2F&amp;usg=AFQjCNG1DTGlQX9c_XPNKyyfgXX1qrJH_w\" rel=\"noopener\">Bitpagos<\/a><\/li>\n<li><a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;uact=8&amp;ved=0ahUKEwjTuMaNqPXUAhUGKCYKHa5qBP0QFggkMAA&amp;url=https%3A%2F%2Fwww.coinjar.com%2F&amp;usg=AFQjCNHLxNdN2gWSafQPQTjjXx_AELof8A\" rel=\"noopener\">CoinJar<\/a><\/li>\n<li><a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;uact=8&amp;ved=0ahUKEwjMkPuWqPXUAhVENiYKHWA6B78QFggkMAA&amp;url=https%3A%2F%2Fcryptopay.me%2F&amp;usg=AFQjCNFit7qDvBx63vP_ZogsvGJKPCkjtg\" rel=\"noopener\">Cryptopay<\/a><\/li>\n<li><a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=8&amp;cad=rja&amp;uact=8&amp;ved=0ahUKEwi8j4OiqPXUAhUDPiYKHfw9BSIQFghbMAc&amp;url=https%3A%2F%2Fwww.moolah.cc%2F&amp;usg=AFQjCNGRprInw9yRBVDWO5UgDaQZlm6LJg\" rel=\"noopener\">Moolah<\/a><\/li>\n<li><a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;uact=8&amp;ved=0ahUKEwim7dauqPXUAhXGyyYKHVfMDc0QFggoMAA&amp;url=https%3A%2F%2Fwww.coinbase.com%2F%3Flocale%3Den-US&amp;usg=AFQjCNGt38nPX2fHHyIc5V1521AsF6SQuQ\" rel=\"noopener\">Coinbase<\/a><\/li>\n<\/ul>\n<p>With every processor, merchant and transaction fees vary.&nbsp; Some of these processors, like Moolah, offer point of sale equipment options like tablets and\/or terminals that can accept credit cards as well as bitcoin payments.&nbsp; Even without a dedicated POS hardware option, merchants can accept bitcoins using mobile apps that generate QR codes for the consumer to scan and use to pay.<\/p>\n<p>Some business have opted for the completely free Block Chain API to accept bitcoin which allows them keep the coins they receive instead of exchanging them for fiat currency.&nbsp; With the API, merchants can avoid any registration and avoid the risk of changing exchange rates by exchanging only when they want to.<\/p>\n<p><strong>What do merchants want?<\/strong><\/p>\n<p>Today\u2019s merchants are looking for POS solutions that allow them to meet all of the needs of their consumers as well enhance the convenience in processing payments.&nbsp; With a POS solution that allows them to accept bitcoins merchants have the opportunity to avoid missing out on sales. It\u2019s important that a payment processing solution that accepts bitcoin can accommodate a merchant\u2019s unique business and the products and services they provide.<\/p>\n<p>Business owners are always interested in robust processing that allows them to analyze sales and other reports.&nbsp; If processors plan to offer bitcoin payment acceptance, they should also ensure that they\u2019re allowing merchants to analyze what consumers are paying for and how.<\/p>\n<p><strong>Is bitcoin worth the investment?<\/strong><\/p>\n<p>Although less than 1% of the population uses bitcoin, the demographic is definitely growing.&nbsp; Because the people who choose to use bitcoin are such a niche group, they are appreciative of the business who make the commitment to accepting the currency.&nbsp; These consumers are likely to become very loyal to businesses who accommodate their payment preferences and often view these businesses as leaders.&nbsp; Although accepting bitcoin will not significantly impact a business\u2019 income in the immediate future, making the adjustment now is a great way to get ahead of an innovative shift in commerce.&nbsp; Payment service providers can impress their merchants now by offering a bitcoin solution that will give them the opportunity to show a dedication to progression.<\/p>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has frequently been the topic of discussion in the financial and payments industry.&nbsp; Although the anonymous virtual currency has long been associated with the black market and fraud, the reputation for bitcoin has changed in recent years.&nbsp; Today, accepting bitcoin for goods and services is an opportunity for all kinds of merchants and many [&hellip;]<\/p>\n","protected":false},"author":244,"featured_media":28112,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[1],"tags":[205,217],"class_list":["post-28111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-important-announcement","tag-industry-news","tag-technology"],"_links":{"self":[{"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/posts\/28111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/users\/244"}],"replies":[{"embeddable":true,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/comments?post=28111"}],"version-history":[{"count":1,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/posts\/28111\/revisions"}],"predecessor-version":[{"id":31229,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/posts\/28111\/revisions\/31229"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/media\/28112"}],"wp:attachment":[{"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/media?parent=28111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/categories?post=28111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/tags?post=28111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}