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JacoJ

Bitcoin accepted as payment option on bidorbuy

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JacoJ

As of today sellers can now also accept Bitcoin as a means of accepting payment on bidorbuy. You can navigate to your payment options and make it active should you wish to make use of this payment option.

Bidorbuy will manage the conversion from Bitcoin to South African Rand and sellers will not have any exposure to fluctuations in Bitcoin values. As an example: When a buyer chooses to make payment for a R100 order via Bitcoin then we will display the Bitcoin amount to be paid. As soon as the Bitcoin amount is paid the seller will receive the R100 in his bidorbuy account. In the event that a buyer short pays, the system will not match the payment to the order unless to full bitcoin amount is received.

 

There is no charge-back risk to sellers as is the case with Credit cards which makes it very similar to an EFT payment.

We will most likely make a few small changes along the way and would appreciate any feedback that you might have.

 

PS: There is a small fee of 2% (excluding VAT) on the payment amount for the conversion of Bitcoin to ZAR and will be charged to the seller's account.

 

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