Mashable: Retailers Who Take Bitcoin Love It

This article is relevant if you are a NetSuite organization and you are looking to expand your revenue and customer reach.

Mashable Article Summary

Bitcoin is gaining world-wide acceptance. ¬† In a recent Mashable Article “Retailers Who Take Bitcoin Love It“, a few key points were made:

  1. Retailers who take it are seeing steady growth in consumer acceptance.
  2. Most of the customers using Bitcoin are tech-savvy.
  3. Bitcoin transactions are lower cost and are safe to accept; meaning, no fraud or chargebacks.
The article suggests that wider adoption will be slower than what pundits have suggested: expect Bitcoin to be mainstream in two to five years.

NetSuite Companies Can Accept Bitcoin Today

As of this writing, some recent well known brands that have announced acceptance include:

  1. Dell.com:  offering 10% off on Alienware products for computer purchases with Bitcoin.
  2. Wikipedia:  raised $140,000 the first week it accepted Bitcoin.
  3. Expedia: executives announced greater spending than expected when they starting offering hotel booking with Bitcoin
The good news is that NetSuite companies can accept Bitcoin today. ¬†You don’t need to be retailer — Bitcoin is applicable in large and small order amounts because the cost to transact is extremely low.

 The Bitcoin Transaction Coordinator (BTC4ERP) is a NetSuite SuiteBundle designed to make acceptance simple, fast, and without fees for all NetSuite companies.  An eCommerce site is not needed. The bundle effectively allows you to accept Bitcoin and work with major Bitcoin payment processors that offer zero fees while eliminating currency volatility.

Can Bitcoin Expand Your Reach?

I speculate that there is a chicken-and-egg phenomenon going on in the growth of Bitcoin acceptance.  As more merchants offer Bitcoin acceptance, customers may see that it is useful.  As more customers have Bitcoin, more merchants will be open to accepting it for payment.

More importantly, might Bitcoin’s ability to help you reach customers demonstrate that you are an innovator, global in nature, and prepared to generate more profit due to its low cost capacities? ¬†Isn’t this some of the same reasons you selected NetSuite as your business platform?

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Marty Zigman

Holding all three official certifications, Marty is Southern California's NetSuite expert and leads a team of senior professionals at Prolecto Resources, Inc. He is a former Deloitte & Touche CPA and has held CTO roles. For over 25 years, Marty has produced leadership in ERP, CRM and eCommerce business systems. Contact Marty to setup a conversation.

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