October 26, 2015
An outstanding innovation in 21st century payment, bitcoin is attracting increasingly more young customers, gamers and cutting-edge consumers across the globe. According to the latest released data, around $300 million was spent via bitcoin on Black Friday and Cyber Monday last year, making a new breakthrough record.
To get to know more about the popularity of bitcoin, as experts in international payment methods, Limonetik and Bitnet here illustrate the key reasons why accepting bitcoin, merchants could obtain larger growth and attract new customers:
Bitcoin has no frontiers!
Bitcoin gives merchants more international market prospects. With zero cross-border fees, it especially suits to the needs of international buyers and sellers, regardless of either which country they are in or where they target their business.
Add savvy to your brand DNA
By accepting the most innovative and only truly global payment method, merchants will display to the world that they are forward thinking and savvy, whilst keeping up with their competitors simultaneously.
Save time and money
As a digital currency, bitcoin allow merchants to get paid swiftly. Meanwhile, its lower-than-credit-cards transaction fees indicates that more money will be in the pocket of merchants.
No risk of chargebacks
According to the online fraud report of a PSP, merchants lost 2.3% of revenue on average due to the chargeback process. With bitcoin, chargebacks are not possible, so as a merchant you always get to keep 100% of your sales revenue
Keep your reputation in tact
With a bitcoin payment, the consumer does not need to share sensitive card data, enabling merchants to avoid reputation-damaging data breaches.
From July of this year, Limonetik partnered with Bitnet, a bitcoin payment processor, enabling merchants to accept bitcoin as a payment method on Limonetik platform.
Armed with bitcoin, to enable global success!
Bitnet provides a digital commerce platform enabling enterprise-scale merchants to accept Bitcoin payments. Bitnet is one of several Bitcoin merchant services providers, with a particular focus on large companies.
Limonetik provides a one stop shopping payment solution, an online enriched payment platform (PaaS), and connecting payment methods to e-Merchants (directly or through their PSP). Limonetik payment platform consists of an interface between all the alternative payment method (APM) and the ‘Back-Office’ of the e-Merchants.
Reference:Bitnet Technologies, D. Smith, 2015, What will e-commerce and bitcoin be like in 2022? Accessed on 09/09/2015: https://medium.com/@Bitnet/what-will-e-commerce-and-bitcoin-be-like-in-2022-5b336387520e P. Freeman, 2015, 6 reasons why 2015 is the year bitcoin goes mainstream with merchants, Accessed on 09/09/2015: http://retailtouchpoints.com/features/executive-viewpoints/6-reasons-why-2015-is-the-year-bitcoin-goes-mainstream-with-merchants