Tech-focused online marketplace Newegg announced it would begin accepting Bitcoin in 73 additional Newegg country-specific stores.
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With these recent additions, Newegg customers can now pay with Bitcoin in nearly all of the countries the company serves worldwide.
“Five years ago, we were one of the first major online shopping destinations to accept Bitcoin, and our early-adopter customers were quick to embrace this new payment option. Broadening the ability to pay with Bitcoin to the majority of our global network underscores our commitment to bring innovation to the online shopping experience, and answers customers’ growing preference for our Bitcoin payment option.”
Anthony Chow, Newegg President Global Sales
Newegg and BitPay partners since 2014
In 2014, Newegg partnered with BitPay to facilitate Bitcoin transactions for Newegg’s customers in the United States and later in Canada.
Since this initial implementation, not a single chargeback has been required for any Bitcoin transaction on Newegg.com.
The companies now build on this successful collaboration by extending the Bitcoin payment option to the 73 new countries announced today.
The value of Bitcoin has varied significantly over the past several years, yet its resilience is evidenced by its recent resurgence and ubiquity as a preferred international currency.
BitPay – which processes upwards of $1B in Bitcoin transactions annually for its e-commerce partners – leverages the blockchain to provide transactional transparency and eliminate chargebacks.
Additionally, BitPay enables Newegg to increase its margin on each Bitcoin transaction by avoiding credit card fees assessed on credit card purchases.
“Bitcoin allows users to send and receive money just as easy as sending an email, opening up opportunities for businesses and consumers globally as a secure, low-cost transactional option for the merchants. Newegg was among the first companies to see this opportunity and has continued to expand its Bitcoin acceptance to nearly all of its customers around the world.”
Sonny Singh, Chief Commercial Officer at BitPay
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