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Taking Bitcoins as Payment

If you run a business where you take payment from your customers, you can add bitcoin as a payment option along with the old-fashioned methods of credit cards and cash.

The easiest way is to get your customer to send the bitcoin payment to your digital wallet – it’s the equivalent of handing over cash. You can get an app that links up to your bitcoin wallet; you type in the price of the item or service you are selling, and the app generates a QR code which contains the price and the address of your wallet. The customer then scans the code with the bitcoin wallet app on their phone, and the payment is transferred.

There are a number of services that offer point-of-sale (POS) solutions to merchants. Here are a few of them:

  • Coinify – offers POS solutions for online and bricks-and-mortar stores, and pays you either in bitcoin or in physical currency (ie pounds, dollars, euros, etc).
  • CoinKite – offers a bitcoin payment terminal that looks just like a standard chip-and-PIN device. Can print QR codes for customers to scan with smartphone apps.
  • CoinBase – payment processor that offers a point of sale app for Android, but only supports US bank accounts.
  • BitPay – international payments processor that integrates with the SoftTouch POS system for bricks-and-mortar, and offers an API that can be implemented into any other POS system with some coding work.
  • Revel – a POS system including an iPad, cash drawer and scanner, it recently started taking bitcoin as payment as well as physical currency.
  • BitXATM – an ATM with a POS function, it can accept any physical or digital currency.

 

Disclaimer: ADVFN provides these links as examples only and does not recommend these companies over any others. We offer no guarantee about the security of these companies.

Bitcoin Accepted Here

However you go about accepting bitcoin as payment, don’t forget to advertise the fact that you take the digital currency with a ‘bitcoin accepted here’ sign:

WeAcceptBitcoin.png

You can get it from the bitcoin wiki.

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