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Accept payments and receive Bitcoin payouts?

by theoperator
4 replies
I'm not sure if I just havn't done enough research but I see a major gap in the ecommerce system. I found 1 company that does this, but I'm wondering if there's any other solid players out there.

That is, accepting credit cards, but then when you want to transfer your money out or get paid, they can send you the funds in bitcoin.

So far I haven't found hardly anyone that claims to offer this, so it's kinda strange and frustrating too. So there you go I just gave you a big idea. But seriously isn't anyone doing this? I only found Pagos, but I wouldn't mind comparing a few. I mean bitcoins only been out for almost a decade, where's all the...

Accept credit card, get paid in bit coin merchant providers???
#accept #bitcoin #payments #payouts #receive
  • Profile picture of the author AshirChayil
    This one offers it
    Settlement
    Daily Bank Settlements:
    USA (ACH), Euro (SEPA),
    Canada (EFT), Mexico (SPEI)
    Bank Transfers:
    United Kingdom, Brazil, South Africa
    Australia, New Zealand
    Daily Bitcoin Settlements:
    All 240 Supported Countries

    https://bitpay.com/pricing
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  • Profile picture of the author TechNik
    I've heard of the opposite, but what you described seems like an unusual approach. Is it too difficult to buy BTC yourself with funds from credit card payments?
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  • Profile picture of the author Rob Whisonant
    I don't think you will see many companies wanting to do this. It's an extremely high risk business formula. Here is why.

    1. Merchant receives $10,000.00 in credit card payments for the month.
    2. Merchant pays out $10,000.00 less fees in bitcoin.
    3. A few months later let's say $5,000.00 of that gets charged back.
    4. Merchant is out $5,000.00 plus the chargeback fees.

    If it was just credit card to credit card type of transactions the amount charged back could be recovered from the subscriber. Since bitcoin transactions are final, the merchant has no way of recovering the bitcoin paid out unless the subscriber manually pays the merchant back.

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    • Profile picture of the author Steve B
      I don't see any upside at all to the merchant or the consumer in doing this. Why would you want to? Until Bitcoin stabilizes and is accepted universally, it is a gamble at the very least. Because it is unregulated, it will continue to be a scammer's dream. There are more than enough horror stories online about fraud and manipulation in the industry to keep merchants at bay.

      Steve
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