If you own a business, then you know that people are always trying to pay in different ways. Whether it’s checks, credit cards, PayPal, or other online payment processors, more and more businesses are saying “yes” to more and more ways of paying. After all, the more convenient it is for consumers to purchase your products or services, the more likely they are to do so.
A newer kind of payment request is popping up more and more frequently, however. Maybe you’ve even experienced it yourself. And, if you haven’t, don’t be surprised if you do soon. Bitcoin is becoming a popular way to pay for anything and everything, and your business should step up to the plate. Why? Accepting this cryptocurrency comes with a lot of benefits!
There are many reasons to accept Bitcoin. But, one of the most major is that it allows you to accept international payments. All too frequently, businesses lose out on sales simply because the purchaser is located overseas or has credit cards that were issued overseas.
Businesses are often concerned about the safety of accepting these cards, not to mention the high cross-border transaction costs that typically accompany them. However, when you take the card out of the equation and allow clients to use Bitcoin instead, you can accept payments from anywhere and everywhere with no merchant fee. Plus, there’s no risk to you since Bitcoin doesn’t allow chargebacks. Best of all, you don’t even need a merchant account.
Sell Large-Ticket Items Without Fear
Speaking of that no-chargebacks-allowed rule, it can really come in handy when you deal in large-ticket items. Sometimes, a major sale can spell success for a business. And, there’s nothing worse than having that success stripped away due to a client chargeback, especially if you’ve already incurred costs.
Accepting Bitcoin doesn’t carry this type of risk. Once a transaction has settled, it’s done! Settlement is final and usually within one hour. You never have to fear a chargeback or its implications.
Avoid Delivery Hassles
Accepting Bitcoin also offers a relative degree of anonymity which many of your clients are sure to appreciate. Not having to provide a specific name and address or one that matches a certain card can also prove helpful for more complex shipping situations.
A buyer can simply have an item, even a large-ticket item, sent to their preferred address. And, since there are no worries about chargebacks, you can ship it at their request. This takes the worry and responsibility off of your shoulders and also makes things easier on the buyer.
They don’t have to worry about proving their identity, easily sending an item to someone else, picking an item up at a location other than their verifiable home address, or anything else. Thus, even the trickiest shipping situations can be handled with ease on both sides.
Never Lose A Sale
Finally, when you choose to accept Bitcoin, you also choose to open your business up to anyone and everyone, which could mean more sales and more profit for you.
Many people, especially in today’s day and age, like to stay “off the grid” for a variety of reasons. And, when you take Bitcoin, you open your business up to those people.
Whether it’s the financially independent, the person who can’t qualify for the traditional banking set-up, or the expat who doesn’t have easy access to banking, you never have to turn anyone away when Bitcoin is accepted. Not only does this mean more sales for you, but it gives you a chance to help out those who have fewer options for purchasing the items they need or want.
Ultimately, there are many good reasons to accept Bitcoin. And, with no risk of chargebacks, what do you have to lose? Open your business up to a whole new and better way of accepting payments, and then sit back and reap the benefits.