The cost .... $30 USD!
Then our bank charged about €24 to receive those 25 or so transactions, Bitpay pay the next business day to the bank account, its really really nice!!
Fraud rate? 0%
Chargeback rate? 0%
Not having to worry about all sorts of middlemen and fraudsters trying to rip me off and waste my time
PRICELESS!
Now if only my suppliers accepted bitcoin then wouldn't even have to withdraw some of the bitcoin back to fiat!
>The cost .... $30 USD!
All you've done is move the fees to the customer side through their cost of acquisition and the spread bitpay adds to your charges.
>Fraud rate? 0% >Chargeback rate? 0%
This doesn't matter until you stop accepting credit cards completely.
Also no denying bitcoin has benefits for merchants. The problem is the complete lack of benefits for customers.
Costs of acquisition and spread will decrease as bitcoin adoption rises as it is a competitive market. And then low margin merchants will actively encourage bitcoin usage with discounts.
Also with cash back on so many cards now the discount would have to be >2%. Probably more like 3-5% for people to switch. The savings from not accepting credit cards won't make up for that.
Side note. Why did you create a throw away account just to comment on this topic?