Major Payment Systems Provider to Begin Facilitating Small Businesses Accepting Bitcoin

by / Thursday, 13 November 2014 / Published in Salon Business Financing

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A recent article on CoinDesk.com announced the integration of Bitcoin into the mobile payment giant NCR’s point of sale products for small business owners. The move is a big step forward towards a wider acceptance of Bitcoin, a digital currency that is the internet’s answer to the dollar, with secure packets of information standing in for the physical presence of paper money in what is known as cryptocurrency. According to the CoinDesk article, NCR provides payment solutions technology to a wide range of international clients, meaning that their recognition of Bitcoin is a powerful statement recognizing the validity of non-traditional currencies.

Greater Bitcoin acceptance comes at a time when the strategic importance of mobile payments is growing. The news of wider Bitcoin acceptance coincides with much media hype surrounding the roll-out of Apple Pay, the mobile payment app native to IOS 8. Apple’s payment app attacks some of the most persistent challenges standing in the way of greater acceptance of mobile payments, namely security and utility concerns on the part of the consumer. The wide fan-base that Apple has created for itself, as well as the sleek design and simple to use tech they have continued to deliver means that many users of the Apple Iphone may be tempted to their first foray into mobile payments.

Small business owners should seriously look to the future of mobile payments to determine if they could work for them. It’s always a good thing to be an early adopter when possible, and with mobile payment and digital currencies both making waves, small business owners should consider ways that they could potentially adopt the technology to their advantage and to increase the convenience they offer their customers. Even having the ability to accept Bitcoin can be a draw, since the technology is still new enough to represent a significant novelty in most markets, potentially drawing in customers who are not even using Bitcoin but appreciate the forward thinking nature of the business in question.

Photo Credit to fdecomite on Flickr

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