One of bitcoin’s most-often cited challenges is the need for widespread merchant adoption. In examining this issue, bitcoin researchers often note that only a handful of big-name merchants like Tiger Direct accept bitcoin. What often gets less attention is the benefits small merchants are finding with bitcoin; the reason being that smaller merchant adoption is harder to track.
High Violet Salon and Spa in Wisconsin Dells, a tourist city in northern Wisconsin, has embraced bitcoin for the same reasons that many other businesses have – lower transaction fees, ease of use, and the option of cashing out bitcoins for fiat currency at the merchant’s convenience, according to wiscnews.com, the website for several Wisconsin daily newspapers.
High Violet Salon and Spa is one of several small merchant bitcoin success stories CCN has reported in the last year. These anecdotes indicate bitcoin is making progress in this important customer base.
Salon owner Christine Pankow notes that customers can pay with bitcoin using a smartphone app, similar to Google Wallet and Apple Pay. A customer can securely buy bitcoin using their bank account.
Merchant Likes Low Fees
Pankow especially likes the fact that when customers pay with bitcoin, she as the vendor does not pay transaction fees as she does with credit cards. Instead, the customer pays the fees, which are lower than credit card fees. This factor alone is encouraging Pankow to accept bitcoin payments......Read more