Bitcoin Acceptance by Merchants & Retailers Crucial for Mainstream Adoption
Bitcoin company executives and analysts including Irene Katzela, CEO of Chain of Points, firmly believe retailer and merchant adoption is the key to bitcoin mainstream adoption. Since 2014, the bitcoin industry and market have seen a rapid emergence of bitcoin-accepting merchants. Companies like TigerDirect and Expedia have begun to offer bitcoin as one of their main payment methods. Currently, bitcoin is perceived more as a store of value and a safe haven asset rather than an actual digital currency. Some bitcoin investors like Roger Ver argue that the development community of bitcoin....
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Bitcoin’s uptake with popular and leading online retailers has been slow, but since its rapid surge in value and interest recently, it has regressed. Fewer, rather than more, retailers are accepting Bitcoin as a form of payment. Last year five retailers in the world’s top 500 biggest online stores were accepting Bitcoin according to the publication Internet Retailer, now, however, it has emerged that the figure is down to just three. Where is the growth? It is a perplexing discrepancy in the growth of Bitcoin to its acceptance by online merchants, as noted by Morgan Stanley payments....
A new Crypto.com survey reveals a huge gap between consumer demand and merchant acceptance for crypto payments. The secret to fast-track cryptocurrency’s mainstream adoption lies within addressing a contradicted consumer demand for crypto payments across business verticals, reveals a new survey. In a study participated by crypto exchange Crypto.com’s 110,000 customers and over 1.5 million Worldpay merchants, roughly 60% of both merchants and customers shared their interest in crypto payments. However, the consumer demand does not reciprocate the business verticals that accept....
Apple said in January that 2015 would be “the year of Apple Pay.” A recent Reuters report suggests otherwise, however. According to an interview with retailers, as the payment system is approaching the end of its first year, many don’t see the demand for the platform. Apple’s contactless payment system has gained some traction with financial institutions and merchants, although according to the recent survey the percentage of acceptance is small. Reuters surveyed 98% of retailers from the National Retail Federation’s list of the top 100 U.S retailers. Less than a quarter accept Apple Pay,....
Merchants: Click here to fill in our brief poll. If 2013 was defined by the thousands of small merchants turning to bitcoin and other digital currencies for their low transaction fees, dedicated community and international appeal, 2014 has shown that larger businesses are now eager to capitalize on this value proposition. Led by big-name online retailers like Overstock, Fancy and TigerDirect, industry insiders are becoming even more bullish in their predictions for merchant adoption. Coinbase co-founder Fred Ehrsam has predicted that 10 $1bn retailers will join the bitcoin network by the....
Overstock.com's rollout of Bitcoin payment acceptance capability last week generated much rejoicing among Bitcoin enthusiasts in the United States. Whether this move by Overstock.com will cause other large retailers to consider the adoption of Bitcoin as an acceptable means of payment remains to be seen. Nevertheless, the list of merchants accepting Bitcoin grows longer every day. As of the date of this article in early January, Coinmap.org listed 2,504 companies accepting Bitcoin worldwide and Spendbitcoins listed approximately the same number in the US alone. These are, by no means,....