New partnership extends bitcoins into mainstream, online shopping
With the Bitcoin processing service offered by Coinbase wallet, eGifter will be adding bitcoins to its list of payment options and eGifter customers will soon be able to purchase gift-cards (via web, android and iOS) with a choice of over 100 brands, using bitcoins.
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The incorporation of Bitcoin as a payment option in e-commerce is a topic that we, at Payment Magnates, have become increasingly interested in. Tyler Roye, CEO of eGifter says that, “Bitcoin is growing and rapidly being adopted by more online consumers.” He goes on to explain the company’s partnership with Coinbase: “[It] puts us in a great position to serve our members and to be on the cutting edge of its growth…Coinbase simply sets the price in real-time and calculates the amount of Bitcoin needed to complete the transaction, then they take the Bitcoin payment in our app and pay us in US dollars.”
It seems that Merchants are starting to acknowledge the longevity and rapid spread of the crypto-currency and are finding ways to process the currency in their businesses. For more insight into Bitcoin and its relevance to e-merchants, watch the video interview conducted by Payment Magnates, with Bitcoin expert, Jeffrey Tucker.