Mobile Commerce Insider Featured Article

February 27, 2014

VoIP Supply Joins Increasing Number of Firms to Take Bitcoin on Bills

It was pretty big news when Overstock.com started taking Bitcoin as a form of payment when shopping at the popular online vendor back in mid-January. Even here, however, Overstock.com wasn't alone. There were plenty of other places starting to take Bitcoin, like the Sacramento Kings basketball team and several others. A new company has joined in the fray, meanwhile, as VoIP Supply announces that, starting March 1, customers can turn to the online currency for placing orders with the company.

VoIP Supply has been a major name in voice over Internet protocol (VoIP) solutions, and as such has made significant inroads with companies throughout North America. This new development, in turn, is set to not only help provide a better connection to the overall advance of technology, but also provide customers with a means to take advantage of a form of payment that offers valuable benefits all its own.

With the ability to accept Bitcoin, customers will get access to a faster form of payment. While a traditional wire transfer can take as much as 10 days to fully process, Bitcoin can shrink that time gap to a matter of minutes. Those customers who place large orders will benefit as well from a simplification of orders: sometimes on large orders, a credit card company can put restrictions on the amount involved. But with Bitcoin, the restrictions are generally lifted, and those who have the correct balance on hand can make the payment needed. Finally, the transactions are actually somewhat safer with Bitcoin; no one can steal what isn't there in the first place, and since Bitcoin doesn't involve any credit card data, committing credit card fraud on a Bitcoin transaction is somewhat like trying to steal a unicorn.

VoIP Supply's CEO, Ben Sayers, offered up a bit of comment going into the addition of the new payment method, saying “I'm excited to see a new platform that is usable as both global currency and payment system with easy integration into today's systems of commerce.”

There's nothing wrong, really, with adding Bitcoin as a method of payment. It's one more tool in the toolbox, and allows those who are interested in making payments via Bitcoin to follow through on that desire. It's a matter of giving the people what they want, to borrow the phrase, so when a business can meet a need, it's likely to be repaid in the form of interested customers. Regardless of anyone's personal feelings about the crypto-currency, the ability to accept said currency is just smart business. While some may disagree with the perceived benefits of using Bitcoin for payment, there are other payment methods available, and VoIP Supply can take those as well. This is just a case of expanding the repertoire sufficiently to accommodate customer interest.

This should be a good move for VoIP Supply, and for the customers interested in paying with Bitcoin, a very welcome development itself. Only time will tell just how many businesses are interested in making payments in such a fashion, but it's still a pretty safe bet that there will be enough interested to make it worth VoIP Supply's while in the long run.




Edited by Cassandra Tucker




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