Accept Bitcoin Payments
Accepting cryptocurrency will soon be as common as using your credit card and being able to accept Bitcoin is becoming more common. From auto manufacturers to major online retailers Bitcoin is becoming a preferred payment method.
Whether you accept Bitcoin online, in your store, or through invoicing there are a lot of advantages to accepting Bitcoin. Some of the benefits of accepting Bitcoin with B.I.G. as compared to accepting credit cards include:
Get Paid Instantly When you Accept Bitcoin
Our cutting edge Bitcoin payment processing makes transactions and payouts blazingly fast! Unlike credit cards, checks, or wire transfers that can take days and even weeks to be funded, our Bitcoin payment processing services allow you to get paid instantly. By supporting and harnessing the power of the Lightning Network transactions can take place instantaneously. Still prefer on chain transactions? No problem. Customers can choose whether they want an instantaneous or an on chain transaction.
What is the Lightning Network?
In short the Lightning Network exists to pull transactions off chain while retaining the security and immutability of bitcoin’s first layer. This serves many functions that benefit businesses and consumers. By transacting off chain, miners are not needed to validate transactions. For example, Bitcoin on-chain transactions speed is around 7-11 transactions per second depending on the load. Lightning Network transactions are capable of millions of transactions per second, which makes it virtually instant. Through the use of multi-signature addresses and smart contracts technologies the Lightning Network creates bidirectional payment channels and moves transactions off-chain.
Eliminate Price Volatility with Automated Payouts
Use our automated payout feature to eliminate risk of market fluctuations. Any portion of your Bitcoin payments can instantly be converted to the currency of your choice or held in Bitcoin. This allows you to decide your risk tolerance.
Bitcoin payments are payer-initiated and the settlement is final. Once a buyer has completed a transaction, you don’t have to worry about chargebacks or friendly fraud. Imagine ZERO chargebacks.
QuickBooks Integration for Bitcoin Payments
Simplify your accounting with our Zapier integration for Quickbooks.
Lower Payment Processing Fees
Accepting Bitcoin is a fraction of the cost when compared to a traditional high risk merchant account. Combine that with eliminating chargeback fraud fees. Combine that with the ability to pass your Bitcoin transaction fees onto the customer for a zero fee solution and accepting Bitcoin with B.I.G. is the clear winner.
Simple Integrations to Accept Bitcoin
Accepting Bitcoin on your website or in person is simple. Whether you want a fully customizable experience via API, payment buttons, or a simple Plug-in we have you covered. Start accepting Bitcoin in minutes with simple plugins to:
- Shopify as a preferred partner
- and more....
Hosted Payment Page
Connect to our ecommerce checkout for the fastest way to start accepting bitcoin payments. Our hosted solution looks great on any device, and payments are compatible with all bitcoin wallets. With features like a streamlined and fully customizable checkout process you can use simple tools to:
- Include Promo or Discount Codes
- Accept Secure Bitcoin Payments from ANY Bitcoin wallet
- Accept, refund or request payment right from your dashboard for simple over or underpayment instances.
- Customers can toggle between on chain or lightning network transactions
- Get real time payment status reports
Take Your Business International with Bitcoin
Bitcoin is truly a global currency. With B.I.G. Bitcoin payment processing you can do business internationally without FOREX or dynamic currency conversion fees. Take your business international with ease by accepting Bitcoin payments. Whether your customer is in the EU or Brazil their Bitcoin purchase with you is the same as accepting USD.
Bitcoin for High Risk Merchants
Our high risk Bitcoin payment processing services are perfect for hard to place businesses. If your merchant has been shut down, sells legal but restricted products or services, or has had problems with chargebacks in the past - accepting Bitcoin payments is a natural fit.
What Types of Businesses can Benefit from Accepting Bitcoin?
In today's marketplace just about every business can benefit by allowing their customers to pay by Bitcoin. From lower payment processing costs to better cashflow and fraud prevention, crypto currency and blockchain payments make business better. Whether you are a local coffee shop, clothing store, restaurant or the city's finest dispensary your business can now accept Bitcoin. Although accepting crypto currency is beneficial for traditional businesses, high risk businesses that cannot accept credit cards or have to pay high rates to accept credit cards have the most to gain. Some of the business types that we have found benefit the most from accepting Bitcoin include:
- - The CBD industry has had it's share of challenges when it comes to accepting credit cards. Even though the industry is technically legal the disparity between state, municipal, and federal regulations have most banks declining CBD Merchants. Accepting Bitcoin allows CBD businesses to increase sales and cashflow.
- Travel Industry - The travel industry has always been considered a high risk industry due to high average chargeback ratios and fraud. Bitcoin payments for travel such as Hotels and Tour Operations can greatly reduce costs and chargebacks by accepting Bitcoin.
- Firearms FFL Businesses - Social and moral views have always put the firearms industry in the crosshairs of public opinion. The political division leads most merchant account providers to ban payment processing for FLL merchants. Many firearms businesses accept Bitcoin as a way to reduce costs and fraudulent transactions.
- Cannabis Seed Merchants - Cannabis seed merchants often find it impossible to accept payments other than by eCheck or ACH. Merchant accounts to accept credit card payments for cannabis seeds are quite expensive and tend not to be stable. Bitcoin allows cannabis seed merchants to accept payments domestically and internationally with confidence and increase sales.
- MLM Businesses - MLM businesses are yet another business type that benefit from accepting crypto currency payments. Not only are MLM businesses considered high risk but they often work internationally. Both accepting and sending payments internationally is often a challenge. Our Bitcoin payment processing services solve this problem increasing efficiencies and profits!
- International Businesses - Doing business internationally has its challenges when it comes to accepting payments. From high payment processing rates and reserve accounts to expensive wires and slow payouts, accepting credit card payments internationally can be prohibitive. Bitcoin solves many of these challenges as it is a true world currency. Not only can international businesses now accept payments confidently - they can be funded instantly in their native currency.
- High Risk Businesses - High risk businesses in general benefit greatly from accepting Bitcoin payments. Not only does allowing customers to pay in their preferred method increase sales but by accepting Bitcoin high risk merchants increase sales and decrease costs.
- Adult Entertainment Businesses - The adult entertainment industry often has trouble when it comes to accepting credit cards due to public perception and a high average fraud rate. Bitcoin allows adult entertainment businesses to operate with confidence and focus on their business instead of constantly searching for merchant accounts.
- Cannabis Businesses - Because accepting credit cards for cannabis is still illegal, Bitcoin payment processing offers these businesses a dependable way to accept cashless payments online or in person. Cashless payments are vital for the cannabis industry to increase safety and reduce costs.
- Ancillary Cannabis Businesses - Until the cannabis industry has acceptance at a federal level even those businesses that provide services to the industry (such as packaging, marketing, legal, etc..) still have trouble accepting payments. Bitcoin provides these businesses with an efficient way to accept payment for their services.
What to look for in a Bitcoin Payment Processor
There are a number of things to consider when selecting a Bitcoin payment processor.
- Speed of transaction - We harness the power of the Lightning Network (LN) who's transactions per second surpass the capacity of the card brand networks! We have more nodes than any other Bitcoin payment provider. Prefer on chain transactions? No problem customers can choose on or off chain transactions.
- Fees to accept payments, convert, and deposit Bitcoin payments. Make sure you know all the costs. Many Bitcoin payment processors are adding lots of "hidden" fees!
- Security and Stability of the platform. Know who you are working with and understand the importance of working with a legitimate operation.
- Service. Something that clearly lacks with many crypto payment providers is service. B.I.G. provides personal service to all our clients.
- Friction at checkout. Is the process seamless for your customers? We make it easy.
- What wallets are compatible? - our solution allows you accept Bitcoin payment from any Bitcoin wallet
- Do they have Payment Processing Experience? - A lot of crypto currency payment providers have little to no experience in the payment processing industry. They do not understand AML, BSA, or Money Transmission regulations. We have been working in payments for over 20 years and have a team of experts in all facets of accepting payments.
The Bankcard International Group team is happy to help you start accepting Bitcoin payments today. We have been working in the high risk merchant services industry for decades. Our service and sales teams are here to work with your business to find payment processing solutions that best fit your needs. If you are wondering if accepting Bitcoin payments is right for your business give us a call, we look forward to learning about your business and helping to make it better.
Want to talk with an expert?
Get your Application to start accepting Bitcoin payments today.