thenewgreen: These donations would not have been possible using today’s conventional payment processors which usually charge flat fees of between $0.50 and $1 per transaction, plus between two and five percent of the total; if the $11,000 donation had been processed by a well known payment processor, fees for this donation alone could easily have reached more than $500.
I was looking at a credit card statement the other day (the bill a merchant receives from their visa/mc processor) and this particular business payed over $23,000 in fees that month to accept credit cards. $23k! In this day and age, for a business to pay that much for something that is seemingly automated is crazy. Also, it normally takes between 2-3 business days for businesses to receive their funds. How does that make sense in the digital age? For these reasons, I think that we will begin seeing more and more businesses accepting and even offering incentives for consumers to use bitcoin to purchase goods/services.
posted 3579 days ago