Mobile payments

The mobile implication of Bitcoins plays out in two different ways.

First, developers can accept bitcoins directly from a mobile site and app. They need only add four lines of code to collect a Bitcoin payment through the Bitcoin Payment Gateway API.

This also provides an easy payment method for consumers who have Bitcoins. They can easily pay on a mobile device without having to type in all of their billing information.

The second outlet for Bitcoins is mobile payments in-store. Retailers can accept Bitcoin payments by integrating a QR code scanner or NFC terminal into their POS.

Consumers can then easily open their Bitcoin mobile wallet to pay in-store.

Jordan McKee, an analyst at Yankee Group, Boston, MA, sees a specific niche for Bitcoins within the mobile space.

“I think we are not that far off from seeing Bitcoins becoming an option for in-app purchases in mobile games,” Mr. McKee said. “As for merchant apps and sites, notable adoption will not occur in the near term. Many merchants are still very unsure about Bitcoin and have a lot of questions that need answering.”

Similarly, Brian Stein, managing director at Pervasive Path, Cleveland, OH, does not think that retailers need to integrate Bitcoins in mobile sites and apps in the near future, but he does see why the currency could be beneficial in the mobile space.

“Because of the transaction fee structure that Bitcoins provides, they work very well for micro-payments,” Mr. Stein said. “Lowering the threshold for purchase volumes allows for more buying opportunities on the mobile channel.

“Additionally, the easy integration of Bitcoins into a mobile app, and the fact that the security is handled by third parties, lowers the barriers to adding Bitcoins to mobile applications and for merchants to accept Bitcoin payments.”

Low transaction

If appealing to consumers’ needs is not enough of a reason to accept Bitcoins, there is even an added benefit for retailers. Transaction fees for Bitcoins tend to be much lower than other forms of payments.

Bitcoin transactions rely on peer to peer processing, so no banks or regulatory authorities are involved, hence very low transaction fees.

It does not cost retailers anything to start accepting Bitcoins, and there are no chargebacks or fees.

“The benefit of Bitcoin is very much around its cheap transaction fees,” Yankee Group’s Mr. McKee said. “Compared to bank-issued currencies, it’s considerably more cost effective for things like international money transfers. Bitcoin is also policed by its users – there is no concern over a central bank failing. This is why conversations around Bitcoin exploded during the financial crisis in Cyprus.”


Make it a champion day!

From his success on the sales floor of an automotive dealership  to becoming a veteran trainer and then the adoption of technology for Internet-based marketing, his career has evolved to deliver the skills and tools needed to help consumers. Richie Bello combined his automotive expertise with his robust desire to “take care of the customer first” to become an automotive influencer, published author, and renowned trainer.  Bello absorbed the wants and needs of consumers as he worked up the ladder of the automotive industry.

Over the thirty-five years of his career, he developed strong Internet marketing skills, leading him to developing software solutions that create ease for consumers, and helps dealers improve relationships with customers. Innovation drives success. And, for Bello, it’s in his DNA. took years to come to consumers and arrived in a timely manner, during the 2020 Pandemic. With over 6 million vehicles on the site, features that help consumers deliver, finance and warranty, Bello has met the retail digital age head on.

Bello also is founder of Richie Bello Institute of Leadership and Management, a 501C3 not for profit, dedicated to the recruitment, education and employment of veterans into the automotive industry. Visit


Join Just

Entrepreneur Training
Public group · 229 members
Join Group
Last year the Richie Bello sales training agency gained a ton of positive reviews and exposure for being a world class sales training agency, and now ...

Video of the day

Richie Bello West

Have any question ? Now you can direct contact me