PayCash Europe S.A. and the leading Bitcoin exchange in Europe – Kraken.com – meet at the 2015 EHI Card Congress in Bonn explaining the importance of Bitcoin in the retail market.
The “Bitcoin accepted here” stamp invites customers of Microsoft, Overstock, Expedia, Dell, Holiday Inn and more than 38,000 other companies to pay with Bitcoin. In Europe and the United States, in particular, online payment options that includes Bitcoin payments are increasingly popular among companies pursuing future-oriented business strategies.
Management of both PayCash and Kraken.com contend Bitcoin is a remarkable technology for enhancing retailers’ competitiveness, profitability and efficiency in an already highly competitive and increasingly global retail environment.
“Fortunately, retailers still have the chance to be part of this development and participate in a future market that has already created such a high value in the digital world” – Jesse Powell, CEO of Kraken.
Bitcoin’s low transaction cost is a clear solution to profit shortfalls merchants frequently criticize. The technology’s instant processing creates near real-time revenue for its users, and its decentralized structure opens global markets to retailers formerly confined to a specific geographic region. Inherent in Bitcoin’s design are protections against fraud and chargebacks, relieving the retailer and merchant of a formerly onerous risk management burden.
Similar to exchanges used to clear and convert foreign currency or credit card transactions there exists the need for a party to convert Bitcoin into other means of exchange (e.g. currency deposits). Recognizing this need, “The payment provider PayCash and the Bitcoin exchange Kraken.com established this relationship in order to manage the Bitcoin payment process on behalf of the merchant and enables merchants to gain an advantage over their competitors by being part of this digital revolution from the very beginning.” – Dr. Jürgen Wolff, CEO PayCash Europe S.A.
