Square Marketplace now allows vendors to accept Bitcoin
Starting today, sellers using Square payment system’s open market can accept Bitcoin through them. Accepting Bitcoin through them is dead simple. It generates a QR code upon starting the transaction, mobile wallets can scan the code, or input the payment data manually if using a hosted service. The payment is verified, and boom, you’re done. What does this mean for Square? Well, it pretty clearly shows that they understand Bitcoin is not a force they should ignore, and that accepting Bitcoin as a part of their storefront can only expand their sales. This also puts Stripe’s announcement....
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Bitcoin remains the most widely used cryptocurrency, so for many online vendors it's a good alternative to the U.S. dollar. Microsoft, CheapAir and other big retail names have already jumped on the Bitcoin bandwagon, with many more to follow. To be fair, most Bitcoin-accepting vendors don't accept Bitcoin directly. They work through commissioned intermediaries, such as Paymium and Coinbase, to immediately convert Bitcoin receipts to fiat currency (usually U.S. dollars). They're not in the business of holding Bitcoin long-term, and most appear to be leery of Bitcoin's historical volatility.....
Square has indicated that it will send dollar payments from Coinbase bitcoin transactions directly to its merchants. San Francisco-based mobile point-of-sale (mPOS) giant Square sent a jolt of excitement through the bitcoin ecosystem when it announced that it would allow users to pay for goods and services with the digital currency via its online marketplace, Square Market. With a valuation of $5bn, Square is already a giant in the payments space despite its relative newcomer status. Founded in 2009, it's backed by millions in venture capital investment and a star executive, Twitter....
Overstock hopes to encourage bitcoin use with a range of incentives for vendors who decide to accept payments in the digital currency. Speaking in a podcast at the libertarian Porcupine Freedom Festival, Overstock CEO Patrick Byrne said, "We're going to start giving sort of special deals to the vendors who want to be paid in bitcoin." This could mean offering discounts and favourable terms to vendors selling through the Overstock platform if they start to accept bitcoin, he indicated, adding that the company may also reward those who already accept the digital currency. Notably, Byrne also....
Square CEO Jack Dorsey has issued new statements suggesting that the mobile payments giant may seek to add bitcoin to its Register product. Dorsey's comments came in an interview with the CBC, in which he was asked for his response to the introduction of Apple Pay to the mobile payments market. Noting that Square offers a terminal product that can accept a variety of payment methods, including Apple Pay, Dorsey told the media outlet: "We're building a register so that sellers can accept a credit card, so they can accept cash, so they can accept a cheque, so they can accept bitcoin and so....
Square's online marketplace that allows consumers to shop online from local businesses, better known as Square Market, is now accepting bitcoins. What this means is that any business who is signed up with Square Market (which allows them to create an online storefront from their business), can accept your digital currency. "For sellers, the experience won't feel any different. Whether selling services or goods, sellers don't have to change a thing, except potentially expecting new trailblazing customers and more sales," Square wrote in their announcement post on Monday. The San....