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Topic: If its cheaper for merchants to use bitcoin and accept transaction with BTC >>> (Read 917 times)

gtraah (OP)

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If its cheaper for merchants to use bitcoin and accept transaction with BTC >>>

August 14, 2014, 05:03:06 AM

I was just thinking, a very easy way to start making the people that use normal currency want to exchange for BTC & shop......

>>>>> Lets just say it costs the merchants 3-4% in CC or other card transactions or what ever it may be..

Why don't merchants at-least give half the benefits back to the bitcoin consumer, if everyone starts seeing that its a little cheaper to buy products using BTC this would be a big factor to increase adoption, people will start to see @ every shop accepting BTC ----Advertisement >> 2-3% Discount on Bitcoin payments, its not much but it counts and people will start to see that all the people with BTC are getting things cheaper + there is greater Online security increased... No such thing as credit/debit card details being kept on database or being seen by anyone corrupt.

I maybe missing something here, but this would be something the BTC payment processors should be advising the new merchants when they come on board.

Abdussamad

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Re: If its cheaper for merchants to use bitcoin and accept transaction with BTC >>>

August 14, 2014, 05:09:27 AM

I've heard of promotions by newegg and dell since they started accepting btc. So they do offer discounts to consumers. They won't offer permanent discounts though. If they did they wouldn't be maximizing their profits.

gtraah (OP)

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Re: If its cheaper for merchants to use bitcoin and accept transaction with BTC >>>

August 14, 2014, 05:26:45 AM

That's the thing,

If bitcoin did not exist, then they would be just accepting CC and prices will be what ever they are..

But since Bitcoin is here now and it is actually cheaper for them to run & accept, shouldn't they be thinking of it like a bonus which will allow them to reduce consumer costs and not something to try make even more money out off. I would thought that if they make a permanent discounts, they should still be making the same amount because its cheaper in the end and it will equalize the end profits.

Nabu

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Re: If its cheaper for merchants to use bitcoin and accept transaction with BTC >>>

August 14, 2014, 05:38:18 AM

i think cost of bitcoins payment is bigger than CC at the moment. Merchants needs to a processing company like a bitpay. Even if its service will be free merchants losing that 3-4% on dollar withdrawal

gtraah (OP)

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Re: If its cheaper for merchants to use bitcoin and accept transaction with BTC >>>

August 14, 2014, 06:09:19 AM

hmm I wonder if there is a way to change this and lower the costs, some companies may have to reduce profits a little if adoption is to take off.

bornil267645

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Re: If its cheaper for merchants to use bitcoin and accept transaction with BTC >>>

August 14, 2014, 06:25:14 AM

I don't know, no matter how hard the crypto tries to make our lives easy, obstacles come in the way. But the idea is good. Cool

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lihuajkl

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Re: If its cheaper for merchants to use bitcoin and accept transaction with BTC >>>

August 14, 2014, 06:42:07 AM

There are no charge back for merchants. The amount of every transaction should be more than 0.1 btc and free charge, otherwise the transaction will never get confirmed. The products and services should be worth more than 0.1 btc. Then the buyers are willing to pay with btc.

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