Bitcoin Forum

How many merchants? millions? Really ?

Apart from the bitpay 50,000 ish merchants etc..millions of merchants now accept bitcoin since 3 weeks ago...but may not know it yet

Xapo card can be used internationally at ANY merchant who accepts traditional debit/credit cards.

Although currently there is a 3% cost as time passes this will reduce ( to zero most probably) It is important to note that buying your cigs at home has a 3% extra cost but buying them when abroad is up to 5% cheaper ( exchange rate spread up to 5% in worst cases plus 2.5% +1% fees when buying in a foreign country)

https://bitcointalk.org/index.php?topic=736643.msg8323871#msg8323871

Yes, no one will stop this trend. More people are holding and spending btc.

Its good thing that people have started understanding how much they can earn via BTC currency.

This is true but some merchants still have fear over their acceptance of BTC.For instance, Bandcamp still prefer paypal payments instead of Bitcoin regardless of the large popularity of bitcoin.

This is expected because Bitcoin is spreading like wild fire. :D :D

The more people believe in bitcoin the more merchants accepts it as a payment option,they don't wanna loose costumer who uses bitcoin by not accepting bitcoin directly

Thats a good news for all the btc investors. The more btc demand increases, the more btc will become strong.

Thanks for the share.

You just go with the flow being a merchant do what eases your clients and what makes you more profit cutting off transaction fees as well

Well it's hard to say they accept BTC when they're ringing your transaction up in fiat and receiving fiat in return.

That's a good news, finally we can buy more merchandise online and offline..without cashing out BTC :))

In my opinion, it's a good thing that more people are holding
and spending Bitcoins, but the great majority merchants still
prefer paypal payments instead of Bitcoin.

At least 240,000 hotels started accepting bitcoin when Expedia started accepting it.

Whether they convert it to fiat or not, it has been great for paying for hotels for me (getting reimbursed by my company will be interesting).

I don't have a problem with merchants selling the bitcoin for fiat once they received it. They need to pay manufacturers in fiat, so they need to convert the bitcoin. Once bitcoin gets popular, manufacturers may accept bitcoins too. I think "millions" is exaggerated, thousands may be more realistic.

getting more and more popular daily - local asian take out place takes btc for orders over $25

gonna use it this weekend just for the experience

Its really and truly millions as Xapo is accepted at any Visa /Mastercard outlet

http://www.quora.com/How-many-payment-card-merchants-are-in-the-US

How many payment card merchants are in the US?
This is a rather complex question to produce a satisfying answer. The data is not regularly published by the largest Payment Card Companies.  Visa for example claims about 29 Million outlets and MasterCard claims 16 Million outlets.  This data is worldwide data and does not break out the US component. In addition the dataset is always a moving target.

ADD

http://www.forbes.com/sites/tjmccue/2013/08/16/why-dont-more-small-businesses-accept-credit-cards/


Why Don't More Small Businesses Accept Credit Cards

The argument I hear from most merchants is that it is too expensive to accept credit cards. But I have been in stores, and you probably have as well, that have a sign on the counter that says X amount will be added to all credit card transactions. Or, that there is a minimum purchase requirement. I’m not sure if that is a legitimate way to process the transaction, but I see it often enough. Customers seem to understand that the cost of processing plastic is greater than cash and most seem willing to accept this cost from smaller merchants.

The benefits of accepting credit and debit cards far outweigh the cost. The various studies show that when people are given more payment options (beyond cash); they are more likely to make impulse purchases, join loyalty programs, and spend more per purchase – and that can only help your business to grow.

But if their concern is the fee from traditional cards.... bitpay has the answer... zero fees forever.

http://www.coindesk.com/bitpay-eliminates-fees-basic-merchant-processing/

One of bitcoin’s leading merchant processors, BitPay, has introduced a new pricing plan that makes its basic level of service free and unlimited.

LOL  well  ok, if we have to be pedantic they are "effectively" accepting bitcoin. You may prefer ...you may now spend using bitcoin in millions of merchants worldwide.

I think many people using bitcoin, so nice for payment merchants to easy shoping online.
good luck always bitcoin.

The new Citi report quoted in Coindesk reckons that massive merchant adoption could be part of the reason prices have been flagging
On the other hand, Citi might just be talking its own book ;)

If now we can get merchant to have big bitcoin signs that would be awesome advertising, I think if people see a small bitcoin sign it can go unnoticed as I see many symbols everyday and don't pay mind to it

Pretty amazing that 3 companies alone, bitpay, coinbase and XAPO, can interface bitcoin into the global payment network.

We are still in the early stage, and will need more players to lower the fee.

It truly is amazing how many places do now accept bitcoin but many of us just do not know it yet. I feel it's a brilliant step in the right direction in regards to making people more aware of bitcoin and even though we are still in the early stages with having companies accept this currency at least we know it's going somewhere and not just at a stand still.

That's a good news, for investors, for merchants and the customers themselves. Increasing value of bitcoin will have positive outcomes to everyone!

The citi report is correct to say that the major merchants accepting bitcoin is causing additional supply to flood the bitcoin market. What it fails to account for is how/when the bitcoin that used to pay for goods from a merchant are purchased. I would argue that most of the bitcoin that are used to pay for goods and services are purchased on an exchange for the specific reason of spending them sometime down the road.

+1
additionally although Xapo charges a 3% fee ..when using it abroad it is very competitive  if not much cheaper than 90% of other cards



http://chinaimport.hubpages.com/hub/Money-saving-tips-exchanging-foreign-currency-travelling-abroad

Source: Dailymail.co.uk
4. Bank Debit Cards

Bank issued debit cards are similar to stored value or prepaid travel cards, but they are linked to your bank account. It is generally not advisable to use debit cards because:

    High transaction fee for use
    High ATM withdrawal fee
    In case of fraud you may lose all money in your account

The fees are dictated by the bank who has issued you the debit cards.

If you have to use a debit card to avoid overspending it is always better to buy a stored value / prepaid travel cards offered by banks and online dealers. Keep your bank issued debit cards for backup only.
5. International Credit Cards

Credit cards are safe, easy to carry and offer protection in case of any dispute arising with the seller of the goods and services abroad. They can be easily be replaced if lost and offer exchange rates near to inter bank rate.

Travel is a major expense and most bank offers to spread out payment over a period of a few months so that you get better control over your finances. It also allows you to earn cash back, lounge access at airports and loyalty points. However, it can be as expensive as a debit card, even more if you have an unpaid balance on your card.

Many banks will charge you for use of credit cards in any of the following ways:

Foreign Exchange Fee: Your bank can charge of 3% to 5% simply because you have used it abroad.

Cash Withdrawal Fee: Bank would charge heavily for ATM withdrawal abroad, which could be 7% of the withdrawal amount. In addition, foreign bank who owns the ATM may charge a flat fee for the same. It is best to avoid using a credit card for cash withdrawal abroad.

Interest Charges: If your balance is not paid on time, all unpaid balance may attract a hefty interest rate ranging between 18% to 30% that evaporates all savings that you earned by cash back or loyalty points.


When to use credit cards abroad?

    For Flight booking
    For Hotel booking
    For fine dining if there is an offer
    For high value purchases (watches, electronics)

Using a credit card abroad? Consider this.

    Many US credit cards lack extended security feature of PIN + CHIP that are popular in Europe and Asia which makes them unusable while traveling abroad.
    Some merchants offer to convert charges in your local currency. Avoid it. While it locks transaction value in your local currency, it also allows merchants to charge a conversion fee that can be as high as 5%.
    Hotels or car rental agency may put a hold on money equivalent to your expected bill. They may forget to remove this hold even after the bill is paid. So ensure that the hold is removed.
    Your credit card company may block your card if used abroad without notifying them. Let them know before you travel if you plan to use their credit card.

Yep, but in the sense that people can now use Bitcoin as a payment mechanism precluding an account with Xapo for a debit card
It is a step forward although not quite anonymous though 
But at least it can be used anywhere more or less no holds barred and at a fairly efficient rate.

We need TONS more and big players to get in.

Aggregator merchants help reach a lot of merchants

You're just creating a rod for your own back
Millions of merchants you say.. well if true, are there customers to match? There are less than a million Bitcoin users, most of whom only have amounts totaling a handful of dollars - and how many of those remaining plan to cash in their Bitcoin for overpriced products anyway?

We should remember that Xapo is less than 1 month old....there is probably  a logistics problem on issuing the existing applications ( I am still waiting) assuming that the demand is as high as it should be..ergo no advertising..but when they are geared up to handle the expected demand .. as soon as they advertise the true advantage of Xapo..ie saving when spending in a foreign country, I can see the cards issued rising to 1 Million + in a short period of time..maybe 1 year..As a business traveler ....who would not wish to save 1-3% on the cost of spending? and the potential to have funds increase in fiat value by 20-100% ( if you are a believer)

Then add the un-banked who could now purchase online and save up to 66%  that has the potential for millions more customers. I have frequently used my card to book tickets for non card holders to the point where I stopped as it became time consuming and aggravating..this is now an opportunity for them to increase their options and be able to transact on line with a debit card.

If merchants think BTC is a great investment, then it really is. I am happy after buying 10 bitcoins :)

And finally there will be diversity among BTC users :)

We need big players in, aka eBay.

It's a world-wide hit. Just heard that Bangladesh is now a part of it. Loving it... 8) 8)

More important: how many buys are paid using Bitcoin? If few, merchants will lose interest about accepting Bitcoin, and merchants might cut the Bitcoin option too.

I think that most merchants that accept bitcoin try to make it publicly known because of the additional sales that accepting bitcoin generally creates. Making a public announcement will also likely get the merchant some kind of free press coverage (positive coverage) which is essentially like free advertising.

I think that the number of merchants that accept bitcoin will continue to grow exponentially which will cause the rate of public adoption to continue to grow. 

That's a good news. Tons of people have started using bitcoins now..

And sellers profit from BTC too...sort of investment..

bitcoin= onward ad upward

Yes, from a pumpers point of view. From everyone else's: we need adoption to grow. price and cap follows then.

It is very good news. I don't know that so much merchants are involved with Bitcoin :D

They say that bitcoin won't last, well this is a clear indication that Bitcoin community is slowly but surely growing into the world economy.