While they are “not quite there yet,” soon it might be possible to purchase items from the online store and pay for them in the digital currency. This is according to Scott Cutler, senior vice president of eBay American Division.
While fewer retailers have accepted Bitcoin as a mode of payment, those that accept it have recorded a boost in shares. For instance, Overstock.com has recorded a boost of more than 250% just in six months, courtesy of its Bitcoin acceptance. The web retailer is one of the founders in the cryptocurrency space. It was the first major retailer to accept Bitcoin in early 2014.
Widespread Means of Payment
Bitcoin payments are not only becoming ordinary, they are slowly becoming widespread. For example, the system is gaining popularity every day, such that even a pre-school in New York City now accepts Bitcoin for tuition payments.
Just in November this year, a mobile company Square (SQ) launched a new feature to a section of consumers on its Square Cash app—dubbed the ability to purchase and hold Bitcoin. According to Jack Dorsey, the CEO of Square, “There’s nothing more impactful to our business than digital currency.”
Currently, e-Bay focuses on conveying a strong festive season and delivering better services that its major competitor, Amazon. It is committed to improving its offerings, return policy, and shipping times.