Bitcoin full integration in payment systems

[RILWAN]

So many companies are gradually adopting Bitcoin into their payment system and this has led to the development of various software that will work to connect to the Bitcoin network (blockchain) but this development have encounter various challenges which prompt me to seek to know when can a company be fully integrated in it Bitcoin payment.

[MrcMrc]

The rate of Bitcoin adoption is increasing with new companies and countries now legalizing cryptocurrency payment it is clear that Bitcoin adoption will widen and the gap between transaction time will become faster with bitcoin payment gateways such as (POS).

[GeorgeJohn]

So many companies are gradually adopting Bitcoin into their payment system and this has led to the development of various software that will work to connect to the Bitcoin network (blockchain) but this development have encounter various challenges which prompt me to seek to know when can a company be fully integrated in it Bitcoin payment.

Bitcoin has become a global currency which i believe in the next twenty (20) years coming bitcoin will dominate everywhere which I'm sure of, adoption of cryptocurrency generally especially bitcoin in companies is taking place gradually, but the system is fully welcomed it, it's only few companies currently who is using bitcoin for exchange of transaction, which i know vividly with time bitcoin will circulate even to the local companies that doesn't not have a firm will start using it for transactions.

[OddyseyGames]

It's only a matter of time, but the main thing is instant transactions.  Several companies actually made it possible on conventional POS terminals, they instantly approve transactions without waiting for confirmation from the network, but there are certain conditions for a minimum commission.

[dothebeats]

It will take a long time before bitcoin is fully integrated in payment systems. For now, we will have to rely on third party payment processors for bitcoin, until the world is confident to accept payments with bitcoin directly. There are still tons of issues when accepting bitcoin transactions like the confirmation times and fees. Until such time that these are solved (LN provides an alternative, but not necessarily a solution), we will just have to make do with what we have right now.

[Dhaniii]

The process of integrating bitcoin perfectly with payments within the company takes a lot of time, because every payment process must have strong legality from the government. the adoption of bitcoin is getting more and more so the better it is to use bitcoin as a barter tool in the company. but unfortunately it has not made bitcoin a legal payment medium.

[RILWAN]

It's only a matter of time, but the main thing is instant transactions.  Several companies actually made it possible on conventional POS terminals, they instantly approve transactions without waiting for confirmation from the network, but there are certain conditions for a minimum commission.

That is where the need for the use of bitcoin lightning network to process the speedy and instant transaction, but so many companies may not be cool with that which is because of the inexperience to using Bitcoin lightning networks.

[bL4nkcode]

It's only a matter of time, but the main thing is instant transactions.  Several companies actually made it possible on conventional POS terminals, they instantly approve transactions without waiting for confirmation from the network, but there are certain conditions for a minimum commission.

That is where the need for the use of bitcoin lightning network to process the speedy and instant transaction, but so many companies may not be cool with that which is because of the inexperience to using Bitcoin lightning networks.

There are still many who doesn't know how bitcoin lightning network works, it's purpose and not all bitcoin wallets support lightning as well. So it will take time before people and companies use this very helpful tool/feature to enhance the speed of bitcoin transaction.
As for the speed matter people don't think we will experience an instant-like transaction on bitcoin network as it's not designed for that, but thanks lightning though it has maximum limit to send but that's still a huge help.

[Tellek Garing]

Indeed the global Bitcoin global recognition and adoption is on the rise but the truth remains, Bitcoin is still at its early stage of adoption and many people are not yet familiar with the use of Bitcoin to carry out payments.
But the fact remains that if Bitcoin must be used for daily payment then there is a need for its scalability and the Bitcoin lightning network will play a big role in that.

[AmoreJaz]

It's only a matter of time, but the main thing is instant transactions.  Several companies actually made it possible on conventional POS terminals, they instantly approve transactions without waiting for confirmation from the network, but there are certain conditions for a minimum commission.

That is where the need for the use of bitcoin lightning network to process the speedy and instant transaction, but so many companies may not be cool with that which is because of the inexperience to using Bitcoin lightning networks.

There are still many who doesn't know how bitcoin lightning network works, it's purpose and not all bitcoin wallets support lightning as well. So it will take time before people and companies use this very helpful tool/feature to enhance the speed of bitcoin transaction.
As for the speed matter people don't think we will experience an instant-like transaction on bitcoin network as it's not designed for that, but thanks lightning though it has maximum limit to send but that's still a huge help.

this is actually the bottleneck here. even crypto users here in the forum, i believe, are not very familiar how to use the lightning network. so don't expect that shops and outside users will be familiar how to utilise the lightning payment method. as of now, merchants are mostly sticking to the regular bitcoin network. it will take time before we see massive adoption in lightning network. if not, we will see adoption in other alts like LTC, XRP or TRX with very low transaction fees. so right now, we can't expect full integration of btc in payment system among merchants and shops but it is already growing.

[GeorgeJohn]

Indeed the global Bitcoin global recognition and adoption is on the rise but the truth remains, Bitcoin is still at its early stage of adoption and many people are not yet familiar with the use of Bitcoin to carry out payments.
But the fact remains that if Bitcoin must be used for daily payment then there is a need for its scalability and the Bitcoin lightning network will play a big role in that.

Bitcoin is not longer new, from the introduction of bitcoin till date, a child been born from 2009 till 2021 is no longer an ordinary new born child, it's very obvious that cryptocurrencies especially bitcoin have circulates round the corners of the world, even government of the seven continent of the world no of them have not come contrary to cryptocurrency, right now people are using bitcoin for exchange of goods and services even in the local level, the problem is that many companies isolate using bitcoin for exchange of transaction because of fear charging them of money laundering,

[RILWAN]

Bitcoin is not longer new, from the introduction of bitcoin till date, a child been born from 2009 till 2021 is no longer an ordinary new born child, it's very obvious that cryptocurrencies especially bitcoin have circulates round the corners of the world, even government of the seven continent of the world no of them have not come contrary to cryptocurrency, right now people are using bitcoin for exchange of goods and services even in the local level, the problem is that many companies isolate using bitcoin for exchange of transaction because of fear charging them of money laundering,

I think the major constraint on Bitcoin acceptance is the fear of losing money and not being charged for money laundering, most countries have already existing can't money laundering laws and agencies that monitor money laundering so I don't see why any legitimate business should be afraid of being charged for money laundering if they accept Bitcoin unless their want to use it for illegal transactions.

[rozak]

I'm sure the progress the OP is talking about will take a while. all of this will start from a few companies that do adopt a payment system with bitcoin. I'm sure it will take some time to adjust.
Not to mention, it can be against the regulations in which the company is located. because there is a possibility that the adoption of bitcoin as a means of payment will clash with government regulations.
It is different if there are regulations that support this adoption from the government. like elsavador did, and this can support bitcoin development and investment in their country. because the platforms of companies in their countries can freely develop bitcoin payments.

[avikz]

So many companies are gradually adopting Bitcoin into their payment system and this has led to the development of various software that will work to connect to the Bitcoin network (blockchain) but this development have encounter various challenges which prompt me to seek to know when can a company be fully integrated in it Bitcoin payment.

I haven't yet seen a fully integrated payment system on any website that connects from one wallet to another. It's either just a bitcoin address mentioned where you jeed to make payment manually and share the transaction hash with the merchant or it's a third party debit card from Bitpay which can be funded through bitcoin.

Not sure if any company was able to integrate only bitcoin payment which is automated and captures the payment data automatically. However,  I won't be surprised if I see a fully functional system because I don't know all companies or merchants that accepts bitcoin.

[CryptoWebDirectory]

Getting BTC integrated to a point were you can accept it isn't that hard these days. There are Wordpress scripts out there which can make it so any Wordpress website can accept Bitcoin and exchanges like Coinbase have API's setup which make integration significantly easier. When you say challenges, do you mean challenges of things like transactions getting confirmed quicker, or bigger sites (like Amazon, eBay, Etsy..etc) adopting and accepting it? I think integration overall is well on its way and if a large company wants to begin accepting Bitcoin, implementing that isn't a huge challenge. However, I do think for it to be more accepted they need to get verification of blocks done quicker, like simultaneously. But overall, it isn't hard for anyone to accept Bitcoin (and even many altcoins like Ethereum) if they want to.

[Wexnident]

So many companies are gradually adopting Bitcoin into their payment system and this has led to the development of various software that will work to connect to the Bitcoin network (blockchain) but this development have encounter various challenges which prompt me to seek to know when can a company be fully integrated in it Bitcoin payment.

Well if they know what they're doing and are generally neutral about Bitcoin (they see it simply as an additional medium, that's it), then I guess they can implement it? Though in the end companies seek profits first and foremost, so bringing that into account, you should probably look at how companies would actually take advantage of adding Bitcoin to their payment processors, and only then would you have the answer of would they even integrate it or not.

[cheezcarls]

So many companies are gradually adopting Bitcoin into their payment system and this has led to the development of various software that will work to connect to the Bitcoin network (blockchain) but this development have encounter various challenges which prompt me to seek to know when can a company be fully integrated in it Bitcoin payment.

El Salvador has taken that step to make Bitcoin a legal tender and some rumors that others like Paraguay would follow suit. The Lightning Network is the main reason that make BTC payments faster than spending several minutes to an hour (or even more) in confirming transactions. The challenge though are the fees on top of paying the exact price of the goods and services. 

[hatshepsut93]

Companies don't want to accept Bitcoin directly, there's too much problems with it - potential legal and regulatory headache, higher security requirements, risks of price volatility and so on. They choose to use existing payment proxies like BitPay that will take care of it all and give them fiat money for each Bitcoin transaction. Unfortunately it means that the users will get screwed and have to deal with all the inconveniences and problems of payment processors, and that market is not looking good right now, with BitPay being the largest player.

[Darker45]

It takes regulatory policies for companies to finally integrate direct Bitcoin payments in their systems. For now, companies in different countries all over the world are tiptoeing on Bitcoin because of the lack of regulations. They are waiting for the proper green light from the authorities for them to finally make Bitcoin payment an integral part of their payment options.

However, things don't seem urgent because Bitcoin is not an attractive payment option even to Bitcoin owners themselves. With what's going on with fiat, it would be better to keep the better money and spend the bad money.

[taufik123]

A lot of software is already integrated with the blockchain and this development continues. the more developers, the more innovations are made to make it easier to make payments and use the blockchain and cryptocurrency ecosystem.
The adoption rate is currently increasing with many large companies starting to seriously study cryptocurrencies and blockchain. companies that are starting to adopt are those who believe that this technology will be very helpful in the future.

However some countries also do not accept cryptocurrencies and block them.

Some developing countries provide regulation as a commodity only.