All the kind of
currencies such as fiat or digital currency, essentially serves the main
purpose of facilitating the process of buying and selling of the goods by the
people. But the crypto currencies like bitcoins are most suitable for spending
money over the internet for buying and selling services as well as transferring
funds due to its lower fees and swift transactions.
A large number of
ecommerce companies and growing businesses had started accepting the digital
currencies in payment transactions. This has increased the number of available
options for the payments for online buyers and sellers.
How the ecommerce
systems could help the masses in accepting digital currencies as a revered mode
of payment on their websites or in the real world store is described in detail
below.
Advertise
That You Accept Digital Currencies
First and foremost action which should be
taken by any online store or brick or mortar store owner is to publicize the fact that you accept bitcoin as a mode of
payment through effective advertising. You can easily make your own signboards
which relay your message in short and clear way like ‘Bitcoin Accepted Here’ or
‘Pay In Bitcoin’ etc.
Make DIY Payments
In you have full
control of your website then you could do some intelligent and intuitive coding
which will help in accepting the bitcoins simply posting your wallet address.
You could even give your customers an option to scan the QR codes on their
smartphone cameras which will facilitate the transactions quickly. Though it
looks very basic but it helps in accomplishing only half your job. You would
also be required to build a checkout process which will help in completing the
transaction and accepting the delivery details.
Website owners should keep one thing in mind
creating payments interfaces on their own that it should continually creates
new wallet addresses to defend against ‘taint analysis’. This taint analysis
could invade the privacy of your as well as your customers alike. Pywallet is
an open-source software library which you against the taint analysis. Website
owners could even use off-chain transactions which would prevent the taint
analysis snooping and it will bring faster transactions.
Integrate Third-Party Payment Processors With Your
Store
If you don’t have
resources to develop your own payment system, then you could easily integrate
the crypto currency payment processors into your website with their effective
tools. Some of the established companies in the bitcoin payment processing are:
a.
Coin Base:
It provides an html widget which will introduce payment buttons into your
website.
b.
BitPay: It provides wide number of solution s to the
merchants and enterprise alike.
c.
Blockchain Merchant: It is a mobile application for the retail
merchants on Android platform which helps in accepting bitcoin payments.
d.
BIPS:
It is abbreviated form of Bitcoin Internet Payment System which is a payment
processor that allows the merchants globally to buy bitcoins and sell them with ease. It also gives you the ability
to store and archive invoices in a unique way.
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