From FERRARIS to PRIVATE JET FLIGHTS: How BitPay Enables Merchants to SELL HIGH-END Products with Crypto, with William Zielke, Chief Revenue Officer at BitPay, E64

In E64 of The Payments Show Podcast, I spoke to Bill Zielke who is Chief Revenue and Chief Marketing Officer at BitPay. 

BitPay is a payment gateway that enables merchants to accept Bitcoin and cryptocurrency payments with zero price volatility risk.

Click through the Chapters Menu at the top of the episode webpage here: http://thepayments.show

Summary of topics discussed:
1. Access to High-Spending, Affluent Customers
2. 50% Lower Payment Processing Costs
3. Luxury Retail vs Smaller Merchants
4. Fast Onboarding for Merchants
5. Settlement: Crypto or Fiat
6. Point of Sale: Not Just Online
7. Who Is Using Crypto?
8. Locking Prices: No Under or Overpayments To Merchants
9. Invoicing In Crypto
10. Fees and Charges: 1% - 2%
And much more…

Details:
- Recorded on 30 Mar 2023
- Host: Satwant Phull, Founder of Digital Money Lab
- Guest: Bill Zielke, Chief Revenue and Chief Marketing Officer, BitPay

[Next Steps]
- Get in touch with Satwant: digitalmoneylab.com
- BitPay: bitpay.com | @BitPay

Chapters

• 0:00 Introduction
• 1:13 Start
• 2:00 Overview of BitPay
• 2:36 Customer Wallet Problem: Turning Crypto Into Spending Power
• 3:52 BitPay Merchant Business
• 4:17 Getting Shut Down by Stripe or Square
• 5:44 Adoption Curve Takes Time
• 6:27 No Chargebacks
• 7:03 Access High-Spending, Affluent Customers
• 8:10 50% Lower Payment Processing Costs
• 8:39 Marketing To Different Crypto Coin Communities
• 9:10 Luxury Retail vs Smaller Merchants
• 10:39 Fast Onboarding For Merchants
• 11:11 Settlement: Crypto or Fiat?
• 11:47 Integration Team
• 12:32 Point of Sale: Not Just For Online Sales
• 13:55 Who Is Using Crypto?
• 15:47 Litecoin Usage Growth
• 16:21 Rebates And Tactics For Different Audiences
• 17:02 100+ Supported Crypto Wallets
• 17:57 Locking Prices: No Under or Overpayments To Merchants
• 21:07 Selling Internationally More Easily
• 23:43 Cards + Crypto: Visa or MasterCard to Spend More Easily From Crypto Wallets
• 25:41 Chicken and Egg Situation For Native Crypto Payments
• 28:53 Experienced Merchants Not Using Fiat At All
• 29:31 Easy B2B Customer Experience
• 30:25 Silicon Valley Bank Collapse and Stablecoins
• 32:13 Fees and Charges: 1% - 2%
• 33:35 Integration, API and Compliance
• 35:34 Achieving Success With BitPay
• 37:47 Emerging Trend: Merchants Sending Crypto vs Accepting It
• 39:49 Business Restrictions, Compliance, Politics and Regulations
• 43:43 Get Started with BitPay
• 45:28 The Future For BitPay
• 47:51 Chit Chat