Bitcoin Merchant Accounts
The days of someone only paying by pulling a few dollars out of their wallet or writing a check for some groceries are long behind us. Most individuals prefer to pay by using cards (debit and credit) as well as other online forms of electronic payment. One type of online payment that has gained some traction in the last few years is the bitcoin. The bitcoin is a digital asset that is traded using a peer-to-peer system. It is a virtual currency that is incredibly decentralized and non-regulated. Many online merchants have begun to accept bitcoins as payments but find getting such payments integrated into their other payment systems troublesome as the vast majority of banks classify any business taking bitcoin payments as a high risk merchant. Merchant Processing Advisors can help remove such a burden because we specialize in high risk merchants and can find payment processors that will work with you and help integrate the bitcoin into your overall system.
There are some negative connotations associated with the bitcoin. The first is the perception that bitcoins are used almost exclusively for criminal enterprises, which is not the case. In fact, a generation of tech-savvy young people regularly use bitcoins to shop online for a wide range of products. Another issue is that the value of the bitcoin can fluctuate rapidly. A bitcoin merchant desperately needs a merchant account provider who can offer the capability of converting multiple currencies on a real-time basis. Merchant Processing Advisors the networks to find and match our clients with the most beneficial partners that offer such services features.
There are several benefits for a merchant to accept bitcoins as payment. The first is that their use is becoming increasingly common, especially for those industries that appeal to a younger crowd. The main benefit is that bitcoin transactions are processed at a lower rate than credit cards, which saves the merchant money. Also, any transaction fees are paid by the buyer and not the vendor. While accepting bitcoins as payment may label you as a high risk merchant in the eyes of most banks, Merchant Processing Advisors can help you find the perfect merchant account provider for your business as we specialize in high risk merchants. Call us today for a free consultation to see how we can help you.
Our services are provided at no additional cost to you.