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Author Topic: Is there any way to accept credit card to bitcoin payment?  (Read 30 times)
CigsSpot
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May 14, 2018, 02:40:45 PM
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Here is what i have in mind:
user visits a site, there is a payment form which accepts credit card/debit card/paypal payments. After the payment is done, the amount goes to a specified bitcoin wallet.

There were several services in past who provided such service, but they dont work no more so i am looking for similar ones.

There are lots of services for buying bitcoins using paypal/credit/debit cards so technically there is no difference, the customer just doesn't need to enter the bitcoin wallet id.

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May 14, 2018, 04:23:08 PM
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The problem with this kind of service is that credit card transactions are reversible. Bitcoin's is not. Because of this, I imagine that a lot of criminals would use this kind of service to make Bitcoins from stolen credit cards.

Why don't you just accept credit cards payment, and buy Bitcoin with the money afterwards?

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May 14, 2018, 05:38:24 PM
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The problem with this kind of service is that credit card transactions are reversible. Bitcoin's is not. Because of this, I imagine that a lot of criminals would use this kind of service to make Bitcoins from stolen credit cards.

Why don't you just accept credit cards payment, and buy Bitcoin with the money afterwards?

Because my shop sells cigarettes. And none of the companies would work with tobacco. But there is a lot of people who want to buy cheap cigarettes,
in AU cost per pack is around 25$....

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May 14, 2018, 05:50:12 PM
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The problem with this kind of service is that credit card transactions are reversible. Bitcoin's is not. Because of this, I imagine that a lot of criminals would use this kind of service to make Bitcoins from stolen credit cards.

Why don't you just accept credit cards payment, and buy Bitcoin with the money afterwards?

Because my shop sells cigarettes. And none of the companies would work with tobacco. But there is a lot of people who want to buy cheap cigarettes,
in AU cost per pack is around 25$....

That's a bummer. I have run into a similar restriction while helping a gun shop accept bitcoin. I don't know your margins or how many BTC sales you do, but what about doing it yourself? It is not hard to accept them. A restaurant near me just has a QR code taped to the register. To pay in BTC you just scan and enter the amount.  Whenever the owner wants to turn some into fiat he sells it at Coinbase. It is a little more work, but setting up an account to trade is no more work than setting up the payment processor. Unless you are doing a lot of bitcoin sales this may be a once a week or month task.

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CigsSpot
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May 15, 2018, 07:49:02 AM
 #5

The problem with this kind of service is that credit card transactions are reversible. Bitcoin's is not. Because of this, I imagine that a lot of criminals would use this kind of service to make Bitcoins from stolen credit cards.

Why don't you just accept credit cards payment, and buy Bitcoin with the money afterwards?

Because my shop sells cigarettes. And none of the companies would work with tobacco. But there is a lot of people who want to buy cheap cigarettes,
in AU cost per pack is around 25$....

That's a bummer. I have run into a similar restriction while helping a gun shop accept bitcoin. I don't know your margins or how many BTC sales you do, but what about doing it yourself? It is not hard to accept them. A restaurant near me just has a QR code taped to the register. To pay in BTC you just scan and enter the amount.  Whenever the owner wants to turn some into fiat he sells it at Coinbase. It is a little more work, but setting up an account to trade is no more work than setting up the payment processor. Unless you are doing a lot of bitcoin sales this may be a once a week or month task.

I was thinking about this as well.. But the thing is i dont want my clients to go over the procedure, i dont want them to have a bTC wallet (cause lots f them think its EXTREMELY hard). Thats why all i want a middle gateway - they pay with card - i get BTC. and the gateway get their %

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