Igot Takes on Coinbase With Bitcoin Merchant Payment Launch

igot merchant solution

Australian exchange Igot is aiming to rival bitcoin payment giants Coinbase and BitPay with the launch of its own international merchant solution.

Igot’s platform will enable e-commerce and brick-and-mortar merchants to integrate bitcoin payments in almost 40 countries and transact in 10 different fiat currencies.

Rick Day, Igot‘s founder, said:

“Accepting bitcoin through Igot has multiple advantages for merchants. Perhaps most importantly, bitcoin is a free marketing tool that is likely to increase overall revenue. This is a win-win situation for merchants and the bitcoin community.”

Igot is incentivising merchants to join its payment platform with a one-off $500 bonus after reaching $25,000-worth of bitcoin payments in the first 90 days.

During a CoinDesk survey last year, 54 of 100 merchants said that bitcoin accounted for 0–2% of their monthly sales. Just how many smaller merchants will be able to reach this $25,000 mark is unclear, given reports of dipping sales and slow bitcoin transaction growth overall.

Day remains confident, however:

“We believe our package presents a strong incentive for merchants to integrate with Igot. With a flat 0.5% transaction fee, we expect to get a lot of traction.”

Market Strategy

Day revealed that Igot’s marketing strategy will

Read more ... source: CoinDesk