How to Accept Bitcoin Payments

Sep 14, 2020

In just a little less than a decade, cryptocurrency has progressed from an obscure realm dominated by high risk ventures to one of the most popular phenomena in business and investments. The technology that supports all digital currency, known as “blockchain” is also gaining significant favor. 

Blockchain technology is proclaimed as one of the great technological inventions since the Internet. Moreover, beyond its use within the decentralized currency, blockchain technology has already made its mark in a wide range of industries, including digital IDs, supply chain management, real estate, voting, and so much more. 

Regardless of whether digital currency and its corresponding blockchain technology gain universal success, there is one thing for sure, Bitcoin has irrevocably changed how businesses process payments. Furthermore, the technology to help businesses accept Bitcoin has advanced as such that accepting this cryptocurrency is easier than ever.

Why Accept Bitcoin?

Merchants should seriously consider accepting Bitcoin as one of their many forms of payment. Not only is it more affordable, easier, and safer for all, it also could be a trend that is here to stay. Here are just a few more benefits:

  • No Chargebacks: Credit card transactions can be mired in chargebacks. However, all Bitcoin transactions are irrevocable. That is, as soon as the funds have been completely transferred, the senders of that payment cannot recover it without the merchant’s permission. This eradicates all chargeback costs and it also prevents criminals from committing e-Commerce fraud.
  • Little To No Transaction Fees: Bitcoin is not regulated by financial institutions or governments. All transactions occur between the buyer and seller. This eliminates the middleman that generally places a hold on your funds. Furthermore, any fees associated with processing Bitcoin payments is significantly lower than those tied to credit cards. A trustworthy Bitcoin processor can charge anywhere between 0% for lower sales volume to 1% for higher sales volume. 
  • Expand Your Customer Base: Accepting Bitcoin means accepting more customers and reaching new target markets. As more consumers are discovering the benefits of using Bitcoin and other cryptocurrency to purchase their goods and services, businesses are well-advised to be ready to serve these customers. It will position you as a more technologically advanced business that is moving with the times. 

How You Can Accept Bitcoin On Your Website

Now that you are familiar with the benefits of accepting Bitcoin for your business, it’s now time to dive into how you can start accepting Bitcoin on your website

If you currently have an e-Commerce website, you simply need to find a trustworthy and reputable Bitcoin payment processor to integrate within your store. Look no further than cryptocurrency payments from (EMB).

EMB’s cryptocurrency payments is backed with extensive experience in the high risk payment processing industry. Paired with a strong grasp of cutting-edge fintech advancements, including the complex world of cryptocurrency. 

Ready to get started with Bitcoin? Don’t delay. If you already have a merchant account, you can easily apply to EMB for cryptocurrency payments.

If you want to apply for a merchant account and cryptocurrency payments, you can fill out EMB’s quick and easy online application. Approval is not guaranteed, but we do promise an open and straightforward application process. Merchants can be approved in  24 hours. 

Get Started With Bitcoin Today

Accepting Bitcoin has numerous advantages and implications for your business. It’s time to take forward-thinking action and position your business to thrive in this ever-changing, global economy.

Let us help you get a high risk merchant account today!

Get Started

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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 on 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.