Why You Should Accept Bitcoin (and other Cryptocurrency) in your E-Commerce Store
Even though many people view cryptocurrencies as a speculative investment, it’s still worth adding it as a payment option if you run an e-commerce store. Several reputable stores already include cryptocurrency payment options, and the number is growing each week. In this article, we’ll analyze the pros and cons of including it as a check out option and provide you with the resources to add it to your store. The Pros Reduced Fraud. Chargeback fraud is a common occurrence on e-commerce platforms. Here’s how it works: A customer orders your product using a debit or credit card. You deliver the product to the customer. Once the customer receives the product, he/she initiates a chargeback. They claim that the package never arrived, their card was stolen, or some similar excuse. You’re stuck wasting resources to fight the claim. You have to prove that the product arrived successfully while the card company locks the funds in the meantime. This is especially troublesome for e-commerce businesses with an already limited cash flow. Cryptocurrency payments are irreversible....
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