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Author Topic: What Payment Processors are being used Globally?  (Read 280 times)
Despairo
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September 16, 2022, 07:43:06 AM
 #21

There are many payment processors that are accepting Bitcoin as a payment option and then they add some fees to convert it to Fiat currencies, so that businesses can accept Bitcoin as a payment option. We as a Bitcoin community does not want these intermediaries to add themselves in between the customer and the business, because they slow down transactions and they make the payment more expensive.  Angry

We want Bitcoin to be an alternative "Currency" on it's own... and for people to make transactions with Bitcoin directly, without the need of centralized intermediaries. 
BTCPay is a Bitcoin payment processors that doesn't charge fees and convert to fiat, of course your worried will be solved easily if they use this payment processors. It doesn't become a third party, but it's work like P2P transaction.

But since I don't live on El Salvador and Central African Republic, I don't know which payment processors they've used. Maybe they're using the processors that convert to fiat since the stuffs are calculated based on fiat equivalent, it's hard to calculate based on Bitcoin equivalent due to volatility.

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traderethereum
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September 16, 2022, 07:59:30 AM
 #22

Visa and MasterCard are still more frequently used by people and the strategy of Visa and MasterCard is to work with local banks so that users can use them when they are travelling abroad.
But if you mean that we can send and receive money with fellow users, I think maybe every country already has an application that helps its users make transactions like that.
The government and the private sector are working together to solve this problem and it seems that since the COVID-19 case yesterday, they have launched an application that every people can use online.
But for bitcoin or other coins, I think it still needs more time to be used as a payment processor.

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September 16, 2022, 10:04:15 AM
 #23

There are tons of payment processors in my country, the competition is intense. From mobile-only payment processors to e-shops like Shopee (yes they offer payment processing too). It is kinda weird to see at first, but understandable since the market is huge. I don't see any crypto though.

I agree with others, Bitcoin on its own is just a currency or investment (depends on how you see it), we still need a framework like BTCPay to process it. I don't think it is going to change anytime soon, at least in my country.

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September 16, 2022, 10:28:29 AM
 #24

and it would really vary out on very corners of the world and if ever if the vast or majority of countries wouldnt really be having any problems on accepting bitcoin then we might possibly able to see
its name in together with those common or universal payment processors.
There's still a very long way to go, and at the moment despite a lot of Bitcoin users thinking the claims are unfounded, the perception of Bitcoin using a lot of energy, unnecessarily is going to hinder our growth in the short term. That's just something that VISA, and Mastercard don't have, despite them probably using a decent amount of electricity themselves, but it's just not documented nearly as much as Bitcoin. Probably because Bitcoin is very alternative in terms of adopting it, the concepts are completely new.

Mastercard, and VISA likely have the monopoly for the next decade. When Bitcoin becomes a little bit more stable, and has sorted out its perceived perception over the years, we might some day somewhat compete.
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