For merchants interviewed in a study conducted by BitPay, Bitcoin integration led to positive results
Recently, BitPay published a study of four merchants from different activities who have implemented Bitcoin as one of their payment methods. Among those selected to participate are a gold broker, an online gift certificate marketplace, a domain registrar that also offers hosting services, and an electronics reseller.
In the report, anonymous merchants praised the absence Bitcoin Loophole review of fraud-related chargebacks, one of the features of cryptos, highlighting the extent of this problem in relations with traditional institutions.
In addition, they reported that, although only between 0.5% and 6.5% of their total eCommerce sales used crypto transactions, they helped to increase the flow of new customers by an average of 40% over the last three years.
During the pandemic, the study notes that merchants saw an increase in online purchases. This development drove the number of crypto transactions on their platforms, and 11% of customers reported that they were using cryptos and other digital payment methods for the first time.
The report goes on to add:
„The merchants surveyed identified an opportunity to increase sales by reaching a new segment of customers who prefer to pay with Bitcoin and other crypto currencies when shopping online. Although buyers with crypto still account for a relatively low percentage of expenditure, the recognition of cryptocurrency is significant and growing.
In early September, the English online food delivery platform Just Eat introduced cryptocurrency payment support on its French subsidiary.