While cryptocurrency can be volatile, for merchants who sell to the tech industry, especially if they deal in blockchain-related technology, and those who want to reach tech-savvy customers looking for the latest digital payment options, accepting cryptocurrency payments can be a great way to build a loyal customer base.
UPS has filed a U.S. patent application for a technology that would use blockchain and its shared distributed ledgers to more efficiently track and manage packages shipped within its network as well as those handed off to other carriers worldwide.
Bitnet has partnered with global payment gateway PAY.ON to allow PSPs globally to offer bitcoin as a payment method via PAY.ON’s RESTful payment platform.
This relationship with BitPay allows Global Payments to incorporate the cryptocurrency into its product suite and to offer bitcoin payment acceptance to its worldwide merchants.
Overstock.com announced that it has sold over $1 million in product to Bitcoin users since the online shopping site started accepting the cryptocurrency on Jan 9. According to Overstock.com, of the over 4,300 Bitcoin customers that made purchases with the site since January, almost 60% are new customers.
Is Bitcoin about to change the way we pay for goods and services on the Internet? Or is Bitcoin just another alternative payment method that comes in like a lion and goes out like a lamb?
As buzz about Bitcoin continues to build, the question is often asked – will consumers embrace this alternative currency? A new nationwide survey conducted for TheStreet by GfK1 shows that consumers do not understand Bitcoin and have little interest in owning it.
Overstock.com CEO Patrick M. Byrne took to Twitter to announce that within 24-hours of implementing Bitcoin as a possible payment option, his company received $130,000 in orders paid in the crypto-currency.
While Overstock.com announced last week that it has begun accepting Bitcoins as an online payment option, not all merchants are embracing the crypto-currency. The Chinese ecommerce platform Alibaba Group said in a statement that it has banned the controversial payment option from all its Taobao marketplaces.