danveltri on Nostr: Y’all at CashApp & Square need to INCENTIVIZE merchants to accept Bitcoin. Make it ...
Y’all at CashApp & Square need to INCENTIVIZE merchants to accept Bitcoin. Make it BETTER than receiving dollars. To do so, you can make the transaction fee for merchants 1% LESS than the normal 2.9% fees when someone pays in Bitcoin.
Since you would no longer be paying credit card processing fees in this scenario, the company can still net plenty, and perhaps more since the only fees incurred would be to transact the bitcoin, which is cheap with lightning.
You could even give merchants “We Accept Bitcoin” and/or “Pay in Bitcoin” signage they could display in their store / on the counter and this could include a QR code to download the Cash App (with the merchant’s referral code built into it). The Cash App referral program could offer both the merchant and the customer $5 or $10 in free Bitcoin if the customer signs up, incentivizing both sides.
Thoughts?
Since you would no longer be paying credit card processing fees in this scenario, the company can still net plenty, and perhaps more since the only fees incurred would be to transact the bitcoin, which is cheap with lightning.
You could even give merchants “We Accept Bitcoin” and/or “Pay in Bitcoin” signage they could display in their store / on the counter and this could include a QR code to download the Cash App (with the merchant’s referral code built into it). The Cash App referral program could offer both the merchant and the customer $5 or $10 in free Bitcoin if the customer signs up, incentivizing both sides.
Thoughts?