This is the approach I used with JJGames
. Since many people in the forum are software developers, I thought it would be worth sharing. Maybe some other vendors can be encouraged in this way.
I am a contract software developer by trade. I've had a contract with JJGames for most of the last decade. Under the terms of our contract, they pay me each month for work that I've done in the preceding month. I asked JJGames if they would be willing to accept Bitcoin as a payment method on their site. I would do all necessary software development for free. For orders paid with Bitcoin, I would give them credit on their next bill
for the full US Dollar amount of the order and, in turn, take all the Bitcoins. If the credits exceeded their bill amount, I would pay them the difference in US Dollars.
JJGames loved the idea of Bitcoin and under these terms was more than willing to accept it as payment on their site. They carry no exchange rate volatility risk and they incurred no development costs for adding the new payment method.
All that's needed to make this work is an existing development contract with an online retailer
. Hopefully some of you have contracts that can be leveraged to create new Bitcoin-accepting sites.