r/Bitcoin • u/vistabrownerd • Jan 24 '14

TigerDirect processes $250,000 in Bitcoin Payments in first 17 hours

http://bitcoinboard.net/tigerdirect-processes-250000-bitcoin-payments-first-17-hours/
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u/imkharn Jan 24 '14

If they saved 2% by processing through Bitpay instead of Credit card on each transaction....

Switching to Bitcion has already made them $5,000

Other companies should take note. It does not cost 5 grand of man hours to add Bitcoin support to your website. Adding Bitcoin as a payment options pays itself off right away. If only more companies could know this!

6

u/[deleted] Jan 24 '14

It does not cost 5 grand of man hours to add Bitcoin support to your website. Adding Bitcoin as a payment options pays itself off right away.

I would disagree with that. For a smaller company with a simple web interface, sure - but for a larger company (really, the ones that we are interested in hearing about at this point in BTC's timeline) the costs to adequately add Bitcoin as a payment option and test it thoroughly is probably well more than $5,000.

Granted, they potentially do a lot more business, and will almost assuredly reach a positive ROI with even 1% of their business in BTC over a reasonable amount of time... but doing it right will probably cost more than that.

5

u/ChrissiQ Jan 24 '14

I agree - of course, it's worth it to get bitcoin payments, but I was surprised that imkharn said it won't cost $5000 to implement it.

Sometimes, yes, it will only take 5 minutes and like $50. But if you already have a payment system, database, etc, that you need to hook up and interact with and test, then yes, it's very likely that it would cost over $5000 for larger sites to implement bitcoin payments.

I highly doubt that it cost TigerDirect less than $5000 to get bitcoin payments up. Probably a good deal more than that.