Africa's Largest Online Marketplace Bidorbuy Adds Bitcoin Payments

[alyssa85]

https://bitcoinmagazine.com/articles/africa-s-largest-online-marketplace-bidorbuy-adds-bitcoin-payments-1458672615

To eliminate the financial security issues a lot of African e-commerce users have suffered from, Bidorbuy, Africa’s largest online market, began accepting Bitcoin payments March 3. The integration of Bitcoin relieves e-commerce platforms from storing sensitive financial data on their local servers, reducing the risk of a data breach and leak of personal user information. By providing Bitcoin as one of its main payment methods, Bidorbuy aims to lead the growth of the e-commerce industry in Kenya and South Africa.

Bidorbuy has more than 700,000 items listed on its online marketplace and generates more than 30 million page views per month. It is the largest corporation in the South African and Kenyan e-commerce industry by market share and the size of userbase

.

[unamis76]

Always good when new commerce sites accept Bitcoin, especially websites with so many items

[alyssa85]

They're using BTC as an effort to ward off credit-card fraud. If they succeed, a lot of other sites will follow.

[Kprawn]

I had a look at the site and it looks promising. I never knew Africa had such a active eCommerce site online. Do they accept Bitcoin directly or only through a 3rd party service?

I travel into Africa for work on a frequent basis and I go through JHB International Airport at least twice a year. My company does business in the area, and I can tell you, some

of their services are equal and better than most first world countries. I welcome this move and would sure use their service, when I am there for a few months.  

[nuevo]

https://bitcoinmagazine.com/articles/africa-s-largest-online-marketplace-bidorbuy-adds-bitcoin-payments-1458672615

To eliminate the financial security issues a lot of African e-commerce users have suffered from, Bidorbuy, Africa’s largest online market, began accepting Bitcoin payments March 3. The integration of Bitcoin relieves e-commerce platforms from storing sensitive financial data on their local servers, reducing the risk of a data breach and leak of personal user information. By providing Bitcoin as one of its main payment methods, Bidorbuy aims to lead the growth of the e-commerce industry in Kenya and South Africa.

Bidorbuy has more than 700,000 items listed on its online marketplace and generates more than 30 million page views per month. It is the largest corporation in the South African and Kenyan e-commerce industry by market share and the size of userbase

.

From the standpoint of a merchant, I'm not sure why more haven't adopted bitcoin. The cost savings alone that use it over cards should be enough to convince people to start accepting Bitcoin as a form of payment. For those that sell a good or service that haven't looked into accepting bitcoin, don't take my word for it, look into the benefits for yourself and I think you will come to the same conclusion I did.

[alyssa85]

https://bitcoinmagazine.com/articles/africa-s-largest-online-marketplace-bidorbuy-adds-bitcoin-payments-1458672615

To eliminate the financial security issues a lot of African e-commerce users have suffered from, Bidorbuy, Africa’s largest online market, began accepting Bitcoin payments March 3. The integration of Bitcoin relieves e-commerce platforms from storing sensitive financial data on their local servers, reducing the risk of a data breach and leak of personal user information. By providing Bitcoin as one of its main payment methods, Bidorbuy aims to lead the growth of the e-commerce industry in Kenya and South Africa.

Bidorbuy has more than 700,000 items listed on its online marketplace and generates more than 30 million page views per month. It is the largest corporation in the South African and Kenyan e-commerce industry by market share and the size of userbase

.

From the standpoint of a merchant, I'm not sure why more haven't adopted bitcoin. The cost savings alone that use it over cards should be enough to convince people to start accepting Bitcoin as a form of payment. For those that sell a good or service that haven't looked into accepting bitcoin, don't take my word for it, look into the benefits for yourself and I think you will come to the same conclusion I did.

In Europe, the problem is the banks. In order for a merchant to accept bitcoin, they also need to have a bank that doesn't close their account because they're accepting bitcoin (the merchant needs a traditional bank onside because of the need to convert to fiat to pay taxes, rent etc).

The only European bank that is bitcoin friendly is Fidor bank, but it's still too new to have gained market share.

The African banks seem to be taking a different path - they're interested in bitcoin because it cuts down on fraud. I expect Bidorbuy talked to their bank before introducing this and got the go-ahead when they demonstrated how much credit-card fraud they could cut.

[countryfree]

Sure, these are good news, but bidorbuy isn't the largest marketplace in Africa, let alone in its single home country: South Africa.
http://www.takealot.com/ is larger, and they are even bigger online markets in Nigeria.

[alyssa85]

Well bidorbuy might not be the largest, but it's a  step in the right direction.

It's a bit like Overstock allowing payment with bitcoin - it's much smaller than Amazon, but it's a step in the right direction.

[btvGainer]

Good to know that bitcoin is getting popular in all parts of world.Africa is house to many poor third world countries I hope bitcoin will bring some prosperity to the lives of people who adopt it

[SFR10]

Although it's not the largest online marketplace as mentioned by some above me, it's still a good move for them in order to ensure users safety in terms of security breaches when using credit cards plus it's the effect of lesser popular marketplaces that lead to bigger marketplaces accepting BTCitcoin as well since the bigger and popular a marketplace, the more time they take before they would accept a new payment option so great move.

[RealPhotoshoper]

https://bitcoinmagazine.com/articles/africa-s-largest-online-marketplace-bidorbuy-adds-bitcoin-payments-1458672615

To eliminate the financial security issues a lot of African e-commerce users have suffered from, Bidorbuy, Africa’s largest online market, began accepting Bitcoin payments March 3. The integration of Bitcoin relieves e-commerce platforms from storing sensitive financial data on their local servers, reducing the risk of a data breach and leak of personal user information. By providing Bitcoin as one of its main payment methods, Bidorbuy aims to lead the growth of the e-commerce industry in Kenya and South Africa.

Bidorbuy has more than 700,000 items listed on its online marketplace and generates more than 30 million page views per month. It is the largest corporation in the South African and Kenyan e-commerce industry by market share and the size of userbase

.

bitcoin not have good market in africa so far,and this would be a pioneer of africa to be more concern about bitcoin,and some fact show to us that Bidorbuy have good potential market for bitcoin to gain mass adoption and introduce bitcoin much better in african country like kenya.

Bidorbuy has more than 700,000 items listed on its online marketplace and generates more than 30 million page views per month. It is the largest corporation in the South African and Kenyan e-commerce industry by market share and the size of userbase.

[Kakmakr]

Sure, these are good news, but bidorbuy isn't the largest marketplace in Africa, let alone in its single home country: South Africa.
http://www.takealot.com/ is larger, and they are even bigger online markets in Nigeria.

Takealot also accepts Bitcoin, but you have to jump through a lot of hoops to get it done. http://mybroadband.co.za/news/internet/106487-takealot-com-now-taking-bitcoin.html < Quick search on Google > Here are a list of some other places, where you can also spend Bitcoin in South Africa. https://www.payfast.co.za/2015/06/05/10-awesome-places-to-spend-bitcoin-in-south-africa/ I was part of a consortium of companies, who worked with Naspers to develop IT infrastructure for a project they were planning and when I visited them, they were talking about Bitcoin being linked to some of their services in the future. ^smile^

[D3ViL]

waiting to see amazon accepting bitcoins, they have the largest user base in literally every country they are in , they must start accepting bitcoin ,if so it will be the biggest achievement in the history of bitcoin i guess

[Amph]

waiting to see amazon accepting bitcoins, they have the largest user base in literally every country they are in , they must start accepting bitcoin ,if so it will be the biggest achievement in the history of bitcoin i guess

sure with the tiny block limit we have know, something like this will make the block 100% full, and i'm talking about all the blocks

the transaction made on amaazon are huge each day, you can not sustain it witht he current network possibilities

[KennyR]

Its a beginning of new era to the bitcoin users of Africa. Sure it would make big change in the adoption in African people as its a Big market chain that has accepted bitcoin.

[Herbert2020]

waiting to see amazon accepting bitcoins, they have the largest user base in literally every country they are in , they must start accepting bitcoin ,if so it will be the biggest achievement in the history of bitcoin i guess

sure with the tiny block limit we have know, somethign like this will make the block 100% full, and i'm talking about all the block

the transaction made on amaazon are huge each day, you can not sustain it witht he current network possibilities

yeah, that sucks and i hope this gets fixed sooner than later. i think it is one of the big things that is keeping bitcoin back these days.

but also it can be avoided by using an offchain service like Coinbase or any similar service that don't use transaction on blockchain in addition to accepting bitcoin directly.

[NUFCrichard]

Does anyone know much about Bidorbuy? Is it actually an often used site, or just a small thing?
Also what are the security issues that they have been having, that is probably more interesting in the grand scheme of things.

Is there an African exchange, or do they have transfer money internationally to get Bitcoin?

[jacktheking]

I think I heard about this news before - isn't this a old news? Anyway, it is good to see that Africa online marketplace is accepting Bitcoin. this will spread Bitcoin out and hopefully get more people using Bitcoin in their country.

Ebay should really consider accepting Bitcoin to get into the tread. However I doubt they will ever do it.

[Rubberduckie]

so far behind but yet so far ahead!

Good to see that third world countries are more progressive than most
the companies here in the states

[alyssa85]

Sure, these are good news, but bidorbuy isn't the largest marketplace in Africa, let alone in its single home country: South Africa.
http://www.takealot.com/ is larger, and they are even bigger online markets in Nigeria.

Takealot also accepts Bitcoin, but you have to jump through a lot of hoops to get it done. http://mybroadband.co.za/news/internet/106487-takealot-com-now-taking-bitcoin.html < Quick search on Google > Here are a list of some other places, where you can also spend Bitcoin in South Africa. https://www.payfast.co.za/2015/06/05/10-awesome-places-to-spend-bitcoin-in-south-africa/ I was part of a consortium of companies, who worked with Naspers to develop IT infrastructure for a project they were planning and when I visited them, they were talking about Bitcoin being linked to some of their services in the future. ^smile^

Well done on your involvement. It's good to see retailers featuring bitcoin, can you tell us more about how many users are opting for the bitcoin option?