BitPay, a bitcoin payment service provider, has revealed the results of a survey conducted by research and advisory firm Forrester Consulting.
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According to the survey, up to 40% of customers that use crypto as payment method are new to the merchant. Moreover, the firm found out that purchase amounts with crypto are twice that of credit card purchases.
The survey also demonstrates that crypto is less expensive than card cards, and lastly, there are no fraud-related chargebacks.
Forrester Consulting research also found that merchants who integrated BitPay "saw an average return on investment of 327%." BitPay CEO and Co-Founder Stephen Pair says the study confirms what BitPay has known "for some time now."
"Accepting bitcoin and other cryptocurrencies through BitPay saves merchants considerably on fees, and unlocks a whole new customer base," he added.
Forrester Consulting, LLC specializes in business strategy consulting and economic analysis using system dynamics methodology and optimization modeling. The firm's research and insights are grounded in annual surveys of more than 700,000 consumers and business leaders worldwide.
Earlier in August 2020, BitPay announced it had enhanced payments made via Coinbase accounts in USD coin (USDC), bitcoin (EXANTE: Bitcoin), ethereum (ETH) and other cryptocurrencies.
BitPay’s clients can now make payments directly from the Coinbase account to BitPay merchants with no fees. The phased rollout, according to an official announcement, starts with transactions under $1,000.
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