Bitcoin is a digital risk-free payment method for merchants. Bitcoin is a decentralized, global, peer-to-peer digital currency. With Bitcoin, encryption techniques are used to regulate the generation of units of currency – bitcoins – and verify the transfer of funds, without bank involvement. As a result, no transaction fees are incurred by a retailer when bitcoins are used for payment, and payment is guaranteed. From the consumer perspective, they are able to pay with bitcoins quickly and have their information kept private. Consumers can store their bitcoins in a digital wallet and use them as a cross-border cash for global online payments. Hundreds of thousands of merchants already accept Bitcoins.
Merchants benefit from several advantages of accepting Bitcoins:
No chargebacks. Once Bitcoin transaction are completed and confirmed, the payment can no longer be reversed. Merchants receive a 100% security against non-payment.
Secure. Bitcoin processors as Bitnet meet high safety standards (e.g. As FIPS 140-2), protecting the Bitcoin wallets in the Bitcoin network.
Global. There are is no country controlling Bitcoin. It can be set up, accessed and used anywhere and globally.
Local currency. As a global currency, there’s no need to worry about currency conversion, making it easy to use for both merchants and consumers.
Easy implementation. Merchants are simply provided an interface to easily integrate Bitcoin to their checkout.