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Wodan

Bitcoin and Discovery Miles Fees

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Wodan

I like the innovation that sellers can allow bitcoin and discovery miles payments. Maybe U Count rewards will also become available as a payment option sometime. But a question I have: If seller must be charges a fee for receiving bitcoin etc payments, may they pass said fee onto buyer. I am not talking ethics here, rather as many sellers run a very tight profit margin which already has to accommodate BoB fees should we have to have further profit chiselled off transactions to receive alternative payments.

 

I know that card merchants are not supposed to pass on card costs to customers, per user agreements but one cannot simply increase price generally in the assumption that buyer may use bitcoin and as such possibly chase away other potential buyers.

Edited by wodan
typo fix

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johan

Hi Wodan,

 

I think if one uses the default rates that would be incurred for using credit card as a fee you would be well placed to accept the bitcoin payments.

 

Bitcoin is treated in the same light as a credit card or a reward program payment where the costs can not be passed down to the consumer to take the payment. I know for most people the margins are tight so If I were you I would monitor the situation before making a decision. See if users are migrating from other payment options to bitcoin or if this is opening new channels of business for you.

 

Once you have a clear picture of this then you would have a better understanding of whether to offer the payment method for adhoc payments or if you want to rework your margins to accommodate this.

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