Technological advancements have made it possible for people to sell and buy things online. With the introduction of e-commerce, merchants belonging to any industry type have to get a merchant account to accept online payments. From credit/ Debit Card processing, wire transfer internet banking, mobile wallet to Echeck and ACH, Various payment options have their own advantages and disadvantages. The most beneficial payment option for online merchants Echeck and ACH, but this is available only for merchants having client base in the United States of America. The payment option was preferred because of its ability of reducing the chargeback ratio of Merchant account.
Bitcoins have surpassed all these payment options and have been the most innovative, secure, reliable and efficient way of payment for a merchant account. The way you need a merchant account to accept Credit/Debit card payments or echeck, a bitcoin merchant account enables the merchant to accept Bitcoins. With an internet merchant account for Bitcoin, A merchant can avail services at extremely competitive rates with complete fraud protection and security. Accepting Bitcoins is another advantage for merchants as the transaction process is Irreversible. That means, once done the transaction cannot be reversed. It zeros the possibilities of chargebacks, which is the greatest advantage that a merchant can get in online business. Bitcoin is accepted worldwide; hence changing this cryptocurrency into the local currency is quite easier. Apart from the above mentioned benefits, Bitcoins can be used in many more ways as well.