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Suggest creditcard processor that accepts bitcoin mining related business

Discussion in 'Payment Processing' started by streetjammer, Apr 26, 2014.

  1. #1
    We have tried applying to around 60+ credit payment processors , None of them approved our business
     
    streetjammer, Apr 26, 2014 IP
  2. seotraining

    seotraining Active Member

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    #2
    Depends on your Business Model, For Example: Must Banks will not underwrite a business in the online electronic exchange virtual currency.
    There are alternatives for miners, Paypal was banning the sale of video cards or multi-use FPGAs in the past, However, Bitcoin sales, the same as Euro sales, are disallowed by Paypal.

    http://www.wired.com/2014/01/paypal_bitcoin/

    They are companies online Miners using PayPal to sell small quantities up to $25 of BTC online within the US using PayPal.
     
    seotraining, Apr 26, 2014 IP
  3. jestep

    jestep Prominent Member

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    #3
    It's not going to happen. A credit or debit card can be charged back for up to 6 months past the date of the sale, a bitcoin transaction cannot be reversed. Nobody would ever take the risk of a transaction like this.
     
    jestep, Apr 28, 2014 IP
  4. streetjammer

    streetjammer Well-Known Member

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    #4
    Look we are not selling bitcoins, Its just a mining service , just like webshosting
     
    streetjammer, Apr 28, 2014 IP
  5. Devprakash

    Devprakash Well-Known Member

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    #5
    seems you've to go long to get approve.
     
    Devprakash, Apr 30, 2014 IP
  6. seotraining

    seotraining Active Member

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    #6
    seotraining, Apr 30, 2014 IP