BitPay recently released
a study highlighting four merchants from different businesses that have
implemented Bitcoin as a payment method. The parties selected to
participate included a gold broker, an online gift card marketplace, a
domain registrar that also serves as a hosting service, and an
electronics retailer.

In the report, the unnamed
merchants praised crypto’s lack of fraud-related chargebacks, noting the
immensity of this issue when dealing with traditional institutions.

They
also reported that while only 0.5% to 6.5% of their total eCommerce
sales came from crypto transactions, these helped to boost the flow of
new customers by 40% on average over the last three years.

During
the pandemic, the study stated that merchants reported an increase in
online shopping. This bolstered the number of crypto transactions on
their respective platforms, with 11% of responding customers stating
that they were using crypto and other digital payment methods for the
first time.

The report also adds:

“The
interviewed merchants identified an opportunity to grow sales by
reaching a new customer segment that prefers to pay with bitcoin and
other cryptocurrencies when shopping online. While cryptocurrency buyers
still represent a relatively small share of spending, cryptocurrency
recognition is significant and growing.”

At the beginning of September, a British online food delivery platform called “Just Eat” added cryptocurrency payment support for its subsidiary in France.

source link:https://cointelegraph.com/news/merchants-accepting-bitcoin-laud-zero-chargeback-risks-says-bitpay-report