Abstract
One possible future for Bitcoin in the United States would be as a commercial service provided by Bitcoin merchant services or BMSs. The service could deliver a turnkey payment platform taking the risk and headaches out of a merchant’s hands. BMS could handle: refunds on merchandise returns, dispute resolution, theft protection and insurance on Bitcoin wallets and trading platforms, consumer protection and guarantees on performance of Bitcoin exchange transactions, and escrow payments on money remittance and commercial transactions.
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© 2014 P. Carl Mullan
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Mullan, P.C. (2014). Bitcoin Merchant Services. In: The Digital Currency Challenge: Shaping Online Payment Systems through US Financial Regulations. Palgrave Pivot, New York. https://doi.org/10.1057/9781137382559_22
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DOI: https://doi.org/10.1057/9781137382559_22
Publisher Name: Palgrave Pivot, New York
Print ISBN: 978-1-349-48002-9
Online ISBN: 978-1-137-38255-9
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)