Bitcoin Payment Processing Solutions for all Merchants

Jul 27, 2018

Faster and cheaper— the two adverbs to correctly describe how Bitcoin is making easy the exchange of money among merchants and consumers that sell and buy services or goods. So whether you run an e-commerce business or a physical store, accepting Bitcoin may prove more helpful to you than any other payment methods, including taking credit cards.

Retailers particularly love Bitcoin for their extremely low fees and faster settlement in comparison to traditional payment systems. Plus, chargebacks are no longer an issue as Bitcoin transactions are verified and completed on the Blockchain— which means the retailer has the say-so on returns and fraudulent activity.

Advanced Bitcoin merchant services also provide invoices and user-friendly Point-Of-Sale (POS) apps that are compatible with mobile gadgets like smartphones and tablets. On receiving payment, most processors convert the Bitcoins to the merchant’s local currency at the then exchange rate. And merchants must not worry about the ever-changing conversion rates as there many different online tools they can use to monitor conversion rates.

Here are some Bitcoin merchant solutions for your business.

Payment Gateways for Bitcoin merchants

Below are payment gateway options for your Bitcoin merchant account. They differ in offerings and “what’s best for you” depends on your company’s needs.

BitPay

BitPay, the world’s master Bitcoin payment processor eases the process of taking Bitcoin payments for the retailer. It serves merchants across six continents and has a reputation for an extremely secure Bitcoin payment platform that helps thousands of Bitcoin users per day.

Coinbase

Courtesy of the globe’s top digital currency firm Coinbase, merchants now have Coinbase Commerce, which is a quick and safe way for a retailer who wants to start taking digital currency payments immediately. Business owners worldwide can gain access to a universal customer base by taking unlimited digital currency payments.

GoUrl

GoUrl is an international provider of cryptocurrency payment solutions for online merchants. It is a Bitcoin-and Altcoin-protocol backed payment platform where sellers and buyers transact with each. The platform hosts over 18,000 registered businesses and vendors worldwide.

Other equally useful gateways are; Rocket which is a wide-ranging service and Blockonomics which is a painless way to join cryptocurrency.

Point of Sale (POS) Options for Bitcoin Merchants

Blockchain, Coingate, XBTerminal, and BitcoinPay are all point of sale options for Bitcoin merchants. And to help ease the process of meeting today’s payments demands for the merchant; all of these POS apps are compatible with tablets and smartphones. However, they have different unique offerings as well, and merchants are advised to learn more about every POS before making a decision.

Trading in cryptocurrency is getting more comfortable by the day; don’t hesitate to join the movement.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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