How can I accept bitcoin payments in my physical shop?
Accepting bitcoin in a physical store does have significant benefits for merchants, as bitcoin and other cryptocurrencies are a faster and cheaper monetary exchange for merchants providing any services or goods. Brick-and-mortar retailers can accept bitcoin in a couple of different ways: through POS systems or person-to-person payments simply by getting your customer to send the correct amount of cryptocurrency to your blockchain wallet.
Bitcoin point-of-sale (POS) solutions
Bitcoin point-of-sale (POS) fits everyone’s needs – from small grocery stores to fancy restaurants and businesses which are large enough to look into a solution that fits in with their existing POS systems. SpectroCoin provides bitcoin POS option for brick-and-mortar retailers and, as a payment service provider, serves merchants with a couple of options to accept bitcoin payments.
How to accept bitcoin payments in your physical shop?
- If you don’t have a SpectroCoin account yet, click on the “Sign up”, where you will be able to fill the “Sign up” form.
- After completing the registration, you will receive a confirmation email in your inbox. Please note that the email might go to your Spam box. Once the email is received, click on the link and complete your registration.
- Create a project at SpectroCoin “Projects” section.
- Use a tablet or smartphone to provide your customer with payment window.
- Click on “Create payment order”, enter your order ID and the amount you need in EUR or other currency.
There is a possibility to complete the transaction in three ways:
- Scan the QR Code: after the system generates a unique QR code, the customer scans it with their bitcoin wallet app. Once the code is scanned, the transaction is completed.
- Send the Payment Manually: once you create the order, a deposit address is generated. The customer can then complete the payment by manually entering your deposit wallet address into their blockchain wallet and submitting the transaction.
- Pay through a SpectroCoin blockchain wallet: once you complete the details of the order, the customer can simply send the payment via their SpectroCoin blockchain wallet. Choose “Pay With SpectroCoin” so that your customer can log in to their SpectroCoin account and submit the payment.
- Use the same pre-order link multiple times. Once an unique payment pre-order is created with “Create Multiple Pre Order links” function, you can save it and use it for different clients in the future. This option is great if you sell goods or services for the same price.
1. Create a payment order
2. Create a Public Order URL
This cryptocurrency payment option is very convenient for points of sale, where prices for services or goods are changing constantly. In order to accept bitcoin payments, all you need to do is to create an URL address once and use it to complete every other payment.
For a quick tutorial on how to create a merchant order at SpectroCoin, please check our video:
How long does it take to receive a payment?
The time in which money will reach your digital wallet depends on the network, as transactions must be confirmed on the blockchain before they are considered valid. This takes time and it is not within SpectroCoin’s control. However, if your customer is using their SpectroCoin blockchain wallet, the payment is received instantly. After the cryptocurrency reaches your wallet, the transaction will appear on your transaction list, so you can have a complete overview of your income.
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