Coinbase Now Allowing Merchants to Pass Cost Savings to Customers
One of the key benefits for merchants when it comes to accepting bitcoin is cost savings. For every payment received via credit card, there will be a processing company charging a whopping 2-3 % on each transaction. Over time that gets expensive. And with bitcoin, the customer pays a small fee of a few cents. Seems like a win-win, right? It is. But a common question is: what incentive does a customer have to use bitcoin? Certainly it seems like the merchant is benefiting most here. Now consider what the average consumer would do: help the merchant save on fees or earn airline miles or....
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Under the terms of a $7.2 billion class action settlement that a US federal judge approved in November, starting this Sunday, merchants will gain the legal right to charge credit card-paying customers extra to make up for their processing fees. Currently, every time a customer makes a payment with a credit card, merchants are charged about $0.25 + 2.9% for the transaction, and for many years, major credit card companies have included a term in their merchant agreements forbidding merchants from using surcharges or discounts to encourage their customers to pay with cash instead. The result....
Article updated on 28th August at 11:59 BST. Coinbase, the bitcoin merchant service, has announced it will scrap processing fees for merchants until they make $1m worth of sales. Coinbase claims it is doing this to aid the adoption of bitcoin as a payment method by merchants. "We wanted to lower all barriers for new merchants to get started, and help highlight some of the economic benefits of accepting bitcoin." Coinbase said in its latest blog post. The removal of the transaction fee will clearly appeal to small-scale businesses who don't imagine they will reach $1m in sales for some....
Merchants using Coinbase's services to accept bitcoin payments may be particularly interested to know that the San Francisco-company has improved their checkout payment pages, giving them a refreshed look and improved functionality, while allowing merchants greater flexibility when customizing these pages. For customers already logged into Coinbase, two-click purchasing has not been affected, and sending bitcoin payments is still quick as ever. Some new items however include the ability for merchants to add cover pages. Merchants can get really creative here, and make their checkout pages....
Coinbase has announced its merchants are now able to set Bitcoin price ranges for goods and services in a bid to tackle user error in submitting incorrect payment amounts. Coinbase User Errors ‘Not Fun For Anyone’. The update, announced on the Coinbase’s blog and Twitter feed Monday, also features a partial refund feature for merchants, allowing them to....
California-based financial management solution specialist Intuit is now enabling its merchant network to accept bitcoin through its new PayByCoin service. PayByCoin integrates Intuit's QuickBooks Online payment processing service with bitcoin wallet and merchant processing provider Coinbase. Earlier this year, the business software developer began testing a bitcoin payments service geared toward small businesses. At the time, Intuit said that it was seeking to develop a low-cost, low-risk digital currency acceptance service for its merchants. This service is now being offered free to....