Australian fashion retailers, are you prepared to accept Bitcoin payments?
A partnership between cloud-based software provider Vend and DC POS has seen a number of Australian retailers introduce Bitcoin as payment.
Bitcoin is a digital currency first released in 2008.
Bike Factory Outlet, Vivo Green Café and Orea Café are some businesses around Australia allowing their customers to pay by Bitcoin.
Vend CEO Vaughan Rowsell said digital currencies are the future of trade.
"Bitcoin is an efficient way to accept electronic payment for goods and services with transaction fees at 0.5 per cent much less than fees charged to retailers by the big banks. It’s also secure, as Bitcoins act like cash so once the transaction has taken place, the money is the retailers. The shop or café is in control of any disputed amount not the credit card provider or the bank."
Bike Factory Outlet IT manager Rohan Carroll said set up and execution is simple.
"We’ve had a few customers make use of the offering and we’re adding ourselves to the Bitcoin registers so more people are aware that we take this form of payment. It’s appealing to be a small business able to offer something new and exciting to our customers."
