[ANN] Selling online never been easier thanks to Mt.Gox's new “Pay Now” button!

[Mt.Gox Support]

Press Release = https://mtgox.com/press_release_20120531b.html
Video = https://vimeo.com/43018430

TOKYO - JAPAN - May 31, 2012 - After the successful launch of our first e-Commerce API we are now proud to announce our first dual pricing checkout button for a fast and easy way for you to accept Bitcoins payments on any existing website or other online service accepting HTML or BB Code.

Available to all Mt.Gox account owners this new service is tailored for any one interested in reselling goods or any personal items online whenever they want!

Sell your products online now!
Accessible via the user account page through the Mt.Gox Checkout Button page, the Button Generator interface will guide you step by step through the process of creating a unique payment button that will fit perfectly on any web page whether personal or professional.

To create your first button, just enter a selling price in either USD, EUR, JPY or in Bitcoin, a unique description of what you are selling and you are done! Of course in order to get the best out of your Payment button we also included some optional basic features including email notification as well as a very handy Autosale mode that will automatically sell the Bitcoin you receive in your Mt.Gox account's default currency at market price.

Should you set your selling price in USD or any other traditional currency, the Checkout Button will automatically display in real time the actual value of the product you are selling in both Bitcoin and the selected currency. Please note that at this time the dual price feature is not fully supported by Internet Explorer 9.

Need to get more out of your Button?
Rest assured that advanced users have not been forgotten here as well! By choosing “Advanced Settings”, you can tweak your button's Return URL, Cancel URL, add Custom Datas as well as being able to add your IPN Address.

Dual Pricing, now a reality!
To help make the transition to Bitcoin easier for your customers, we added a unique “Dual Pricing” feature that will automatically show your price in both Bitcoin and in any other currency currently supported by Mt.Gox!


Regards,
Mt.Gox Co. Ltd Team.

Media Contacts
press@mtgox.com

[ripper234]

Very nice work, lots of good press releases from Mt. Gox today.

One problem though, although I imagine it's by design - this button, & the Magneto plugin, only allow payment through Mt. Gox - there's no place to send Bitcoins directly.

Is this (centralization/"lock-in") the direction your product is heading? Do you want to be another PayPal?

Or will you add an option to pay with Bitcoins directly, not through Mt. Gox?

What's the strategy here?

[Mt.Gox Support]

Very nice work, lots of good press releases from Mt. Gox today.

One problem though, although I imagine it's by design - this button, & the Magneto plugin, only allow payment through Mt. Gox - there's no place to send Bitcoins directly.

Is this (centralization/"lock-in") the direction your product is heading? Do you want to be another PayPal?

Or will you add an option to pay with Bitcoins directly, not through Mt. Gox?

What's the strategy here?

So far the system only works via Mt.Gox, which is why we can guarantee instant payment when both parties (Buyer and Seller) own a Mt.Gox account. This said. Buyers do not need to have an Mt.Gox account, only seller is required too. So you can accept any bitcoin customers regardless of where they store their bitcoins.

[Mt.Gox Support]

What's the strategy here?

Our strategy here is to make sure that Bitcoin as a whole continue to grow. Any bitcoin transactions you do via our system is free of fees. A buyer pay in BTC, a seller recieve BTC. as simple as that. Now if the merchant want to change his/her BTC into USD, EUR... well the usual Mt.Gox fees apply with 0.6% at max when you "cash out". It is difficult to be more aggressive when it comes to payment online payment methods.

[ripper234]

Buyers do not need to have an Mt.Gox account, only seller is required too. So you can accept any bitcoin customers regardless of where they store their bitcoins.

How does this work exactly?

Is there a demo store I can try?

I'm trying to login to Mt. Gox right now to test this, but my login doesn't work, and my Reset Password email either doesn't work or take a long time to get to me.

[Mt.Gox Support]

I'm trying to login to Mt. Gox right now to test this, but my login doesn't work, and my Reset Password email either doesn't work or take a long time to get to me.

First contact the support for your password problem, just in case, better safe than sorry! Also as soon as you login use our new security center to use our new OTP system.

Now,

Buyers do not need to have an Mt.Gox account, only seller is required too. So you can accept any bitcoin customers regardless of where they store their bitcoins.

How does this work exactly?

Is there a demo store I can try?

Watch this video http://vimeo.com/38342982 and it is explained at around 1 minutes 40 seconds. We have to come with a demo Store that will not "Charge you". I am going to check that can be done.

[BCB]

Is it possible to see/edit buttons after you've created them?

[Mt.Gox Support]

Is it possible to see/edit buttons after you've created them?

As for today there is now way for your to get an history of the created Buttons. This feature will be added soon.

[Dice]

Sounds great. So I can set up a product to be priced in USD, will the customer purchase the item in USD? If so how? Is there credit card processing or a bank transfer page?

[Mt.Gox Support]

Sounds great. So I can set up a product to be priced in USD, will the customer purchase the item in USD? If so how? Is there credit card processing or a bank transfer page?

The USD here is just for "Information Only". We made the dual pricing system in order to ease the transition from USD/EUR/YEN to BTC. A bit like what happened in Europe with the Euro when stores offered dual pricing in order to help people to get used to EUR.

[istar]

Can you show that the price is X percent cheaper when you use Bitcoins?

[Vladimir]

This is a good thing that mtgox has launched such a service, prices are competitive too and likely will cause competitors to reconsider their pricing. Competition is a good thing.

As a merchant who would like to use such services I have some things to worry about with this mtgox's solution. Here are rumours and reports of mtgox being rather very slow parting with fiat money lately (i.e. fiat withdrawals are taking way too long).

Could please mtgox comment on how quickly and how reliably merchants can withdraw fiat from mtgox. Please describe a typical scenario and costs involved for a merchant that would like to convert 100% of sales into say GBP and sweep it to their bank account on daily or weekly basis.

How long would it take?
Which risks merchants run here?
Are there terms and conditions for merchants?
If someone pays with "tainted" coins to merchant, will merchant run risk of mtgox doing it's usual PI trick and freezing/confiscating merchants money?

I do want to use mtgox's shopping cart solutions since the claimed top line pricing is attractive. However, I am worried about the mentioned above potential costs and risks enough to not jumping into it just yet.

[proudhon]

Nice work!

[2weiX]

holymoly, this is the bees knees.


only nitpick:

may we please have the option to use the BID or VWAP or LOW or w/e at will?
I'd love to use the VWAP for example as I trade large amounts of BTC and the VWAP is generally a better indicator of the price and also takes the possibility to manipulate the spread when placing an order.

[sukiho]

looks good, what about a donation button as well?

[casascius]

As a merchant who would like to use such services I have some things to worry about with this mtgox's solution. Here are rumours and reports of mtgox being rather very slow parting with fiat money lately (i.e. fiat withdrawals are taking way too long).

...

If someone pays with "tainted" coins to merchant, will merchant run risk of mtgox doing it's usual PI trick and freezing/confiscating merchants money?

+1

MtGox where is your SAS 70 / SSAE 16?  Until MtGox takes this seriously, I am afraid I am having a hard time taking MtGox seriously.

[Fuzzy]

Mt.Gox - The PayPal of Bitcoin

make of that what you will...

[Hexadecibel]

have you seen paypal's fees?!

I think this is awesome

[Fuzzy]

have you seen paypal's fees?!

I think this is awesome

Mark my words. It is only a matter of time.

[fm1234]

posted by Mt.Gox Support:

The USD here is just for "Information Only". We made the dual pricing system in order to ease the transition from USD/EUR/YEN to BTC. A bit like what happened in Europe with the Euro when stores offered dual pricing in order to help people to get used to EUR.

Best.  Feature.  Ever.   Displaying "fiat reference value" of transfers made a huge difference to digital gold currencies.  Hopefully this marks another milestone in BTC's uptake.


Frank