As the most powerful cryptocurrency is slowly taking over the online market, there are many merchants, small shops, big online stores, and retailers who are considering including Bitcoin as the payment method in their system, and those who already accepted it years ago. However, there are still many shops who do not accept BTC as payment, which holds this currency back for now. Those who wish to include BTC payments in their shops and selling activities should first learn how to do it properly.
Peer-to-peer payment method is considered to be the easiest one. When selling goods in person, people just have to send you the right amount of Bitcoin to your digital wallet. If you don't have a Bitcoin wallet, the first step would be to create it. This method resembles a lot of cash-in-hand transactions. It can be done by using smartphone applications.
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Wallet apps on iOS devices can be easily found as well, with Coinbase, Blockchain, and others. There is also a good app, called CoinBox, which is specifically designed for merchants who wish to have a simple option for receiving payments. Here, merchant just has to enter the price of a product or service in the phone, which then gives him a QR code that contains the amount to be paid and the address on which the funds are sent. The customer has to scan that QR code with a BTC wallet app, and then the payment will be finally sent.Wallet apps on iOS devices can be easily found as well, with Coinbase, Blockchain, and others.
All this is good for small business and those who operate smaller amounts of money, but the large corporations tend to choose something more suitable for their existing POS systems.
Point-of-sale (POS) solutions
There's also a huge number of services that offer a variety of POS solutions to both online and offline merchants.
Coinfy is a Danish based company that offers POS solutions for online stores, where merchants can be paid in both Bitcoin and fiat currencies. They also have a mobile app, Coinfy POS, which works with both Android and iOS systems. With Coinfy, online sellers can use some interesting tools, such as payment buttons, shopping cart plugins and host invoicing.
CoinKite started a startup that offered Bitcoin payment terminal that looks just like the over-the-counter PIN terminals that can be seen in stores for decades. This device can read Bitcoin debit cards as well. It can also serve as Bitcoin and Litecoin ATM and offers the opportunity to print QR code for customers so they could scan with their phone apps.
CoinBase is payment processor that offers an Android point of sale app for bricks-and-mortar retailers. When it was launched it supported only American bank accounts as a source, offering an extensive e-commerce support. It offers an HTML code segment for inserting payment buttons into your shop's website, and also some plugins for WordPress, Megento, ZenCart, and WooCommerce.
BitPay is a well-known, international payment processor for businesses. It is integrated into the SoftTouch POS system for bricks-and-mortar retailers. It has an API which can be easily implemented into other POS systems with a little bit of coding. BitPay includes many different tariffs that merchants can choose which enable things such as using the service on a custom domain and exporting transactions to QuickBooks.
Blockchain has a merchant application for Android devices, called Blockchain Merchant. It offers instant transactions, no fees on payments and it has multilingual options.
Revel Systems provide a wide range of POS solutions for restaurants, self-service grocery stores, kiosksm and retailers. Their POS packages start with a price of $3,000.
BitXatm is a German-based company that created the Sumo Pro, which is a cryptocurrency ATM with POS functions made for merchants who want to accept payments in digital currencies in an easy way. The starting price is around $4,000. It is a stand-alone machine that has a 17-inch touchscreen and also accepts all fiat currencies. It also accepts all cryptocurrencies, as the company claims.
Paystand is an American based payment processor which offers different ways to accept payments such as Bitcoin, credit cards, and e-checks. When they started the first seed-funding round, Paystand received $1 million in investments. This system has a goal to be a top multi-payment gateway that eliminates merchant transaction fees, by supporting cryptocurrency acceptance worldwide.
Coin of Sale
Coin of Sale is Bitcoin POS system whose goal is to facilitate merchants' efforts to accept cryptocurrency payments for their goods and services. This method works on Android and iOS devices. Users just have to sign up for an account, and they receive an Electrum wallet automatically. When trading, merchants have to enter the amount of money, and the application automatically generates the QR code for it. Then, the customer has to scan the QR code to complete the payment.