How Coinbase Brings Bitcoin to Billion-Dollar Merchants
Coinbase co-founder Fred Ehrsam didn't hesitate to set lofty goals for his company entering 2014, as he quickly predicted his company would enroll no less than 10 billion-dollar businesses in its services before the year's end. It was a bold claim for the bitcoin merchant processor. At the time, Coinbase had enrolled just one billion-dollar merchant, Overstock.com, and despite enthusiasm that more would come aboard, months would pass without another major announcement. Then, just as quickly, the company's stable of major names expanded. In late May, the second billion-dollar merchant....
Related News
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....
GoCoin has become the latest payment processor to be integrated into the Shopify e-commerce platform, joining Coinbase and BitPay in offering cryptocurrency payments options to merchants on the platform. Unlike Coinbase and BitPay, however, GoCoin will allow merchants to take payments not only in bitcoin, but also the altcoins dogecoin and litecoin. Eric Benz, GoCoin's business development advisor, said the deal has been months in the making, and was only completed because Shopify merchants like GAW Miners asked the e-commerce platform for altcoin payment options. Benz explained: "In the....
Powerhouse bitcoin broker Coinbase - despite being one of the largest ways for Americans to acquire bitcoin - has aspirations of becoming even larger. We're talking multinational financial services large. The San Francisco-based company reportedly wants to become the VISA or MasterCard of bitcoin when it comes to processing payments on behalf of merchants, reports the Wall Street Journal. Coinbase CEO Brian Armstrong said that credit card companies are collection $500 billion in transaction fees per annum, adding that as digital currency solutions become more ubiquitous, that number will....
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....
BitPay, the largest and oldest bitcoin payment processor with a daily volume of $1 million bitcoin transactions supporting more than 44,000 merchants, stated in an email exchange to CCN that more than 4,400 of their merchants keep all of their settlement in bitcoin, almost 18,000 keep some of their settlement in bitcoin while the remaining 22,000 convert it all to fiat. Coinbase, the biggest competitor to BitPay, declined to provide a similar breakdown without providing any reason. The names of the merchants that keep all of their settlement in bitcoin or accept a mixture of bitcoin and....