Home » Merchants accepting Bitcoin laud ‘zero chargeback risks’, says BitPay report
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Merchants accepting Bitcoin laud ‘zero chargeback risks’, says BitPay report

Merchants accepting Bitcoin laud ‘zero chargeback risks’, says BitPay report

BitPay not too long ago launched a examine highlighting 4 retailers from totally different companies which have carried out Bitcoin as a fee technique. The events chosen to take part included a gold dealer, an internet present card market, a website registrar that additionally serves as a internet hosting service, and an electronics retailer.

Within the report, the unnamed retailers praised crypto’s lack of fraud-related chargebacks, noting the immensity of this problem when coping with conventional establishments.

Additionally they reported that whereas solely 0.5% to six.5% of their whole eCommerce gross sales got here from crypto transactions, these helped to spice up the stream of recent clients by 40% on common over the past three years.

In the course of the pandemic, the examine said that retailers reported a rise in on-line purchasing. This bolstered the variety of crypto transactions on their respective platforms, with 11% of responding clients stating that they have been utilizing crypto and different digital fee strategies for the primary time.

The report additionally provides:

“The interviewed retailers recognized a chance to develop gross sales by reaching a brand new buyer section that prefers to pay with bitcoin and different cryptocurrencies when purchasing on-line. Whereas cryptocurrency consumers nonetheless symbolize a comparatively small share of spending, cryptocurrency recognition is important and rising.”

Initially of September, a British on-line meals supply platform referred to as “Simply Eat” added cryptocurrency fee help for its subsidiary in France.

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