Overtaking commerce

While Bitcoin may be gaining steam, it is unlikely that the payment system will overtake the leaders in the mobile payment space such as PayPal and Google Wallet. Retailers need not throw out an Isis terminal or stop accepting PayPal.

However, Bitcoin does seem to be a valid alternative form of payment for many consumers, especially those who want to maintain anonymity. It would therefore make sense for retailers to get a better understanding of what its target consumers want to decide whether or not it is worthwhile to accept Bitcoin in addition to the major payment methods.

“If Bitcoins continues to gain traction, I see it being adopted as a back-end payment method for other wallet solutions,” Pervasive Path’s Mr. Stein said.

“For example, Google or PayPal may choose to provide you to check-out using PayPal, or Google Wallet, the funds would be withdrawn from your Bitcoins account rather than a traditional bank account or credit card,” he said. “I don’t see Bitcoins gaining the critical mass required in terms of merchant acceptance to grow beyond that as an independent alternative to the big guys.”

At the end of the day, retailers need to meet the needs of their consumers. If their consumers want to pay via Bitcoins, then they should accept Bitcoins.

“Retailers are very interested in alternative payments,” said Nikki Baird, managing partner at RSR Research, Miami, FL.

“I think some of it stems from trying to get out from under transaction fees and the reliance on major card networks,” she said. “But some of it is a genuine interest in keeping up with the payment alternatives that consumers are interested.

“Retailers want to take payments however consumers want to pay, and if they want to pay in Bitcoins, retailers will figure out how to take them.”

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


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