For the consumer, yes.
For the merchant, implementation/maintenance costs are in the tens of thousands and they are fearful of chargebacks and when payments fail. Also they increase their prices to offset the high fees so that consumers pay more.
Post by twetch#774
lol accepting credit/debit cards (online or offline) does not have tens of thousands in maintenance and implementation cost for the merchant, have you ever ran a business?
Accepting bitcoin on the other hand does increase cost + complexity significantly.
What the chain says
- Block
- 626 908
- Time
- 2020-03-19T15:49:58Z
- Signer
- 17mv3xxFGGokNYaPyCSuVVbqjJjppAEpq3
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#774
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
17mv3xxFGGokNYaPyCSuVVbqjJjppAEpq3 VerifiedReplies (3)
For the large retailers it does. I've implemented credit cards several times for them, also PCI compliance is a pain.
For small businesses it could take much less cost to implement.
If it costs that much, why do they spend this money? Wouldn't it be because they will increase revenues by offering a conveninet mean of payment to their customers while benefiting from automated reconciliation? :)
How is increasing revenues inconvenient?
It doesn’t matter, the cost to implement and maintain accepting bitcoin are far greater, not even considering the additional risks merchants have by accepting it with regards to taxes, regulatory compliance, volatility etc. And for who? 100 people?