PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Corporate Intelligence Services Now Accepts Bitcoin as Payment for B2B Debt Services

Steve Murphy by Steve Murphy
February 3, 2021
in Analysts Coverage, B2B, Cryptocurrency, Debt, P2P
0
Crate and Barrel, Nordstrom, Whole Foods (maybe Starbucks) Now Accepting Crypto

Crate and Barrel, Nordstrom, Whole Foods (maybe Starbucks) Now Accepting Crypto

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

This posting in Cision PR Newswire presents further evidence that cryptos (at least some of them) are moving towards the mainstream in expanding payments use cases.  More common in C2B and P2P scenarios, this particular use is B2B as Corporate Intelligence Services LLC (C.I.S) is announcing acceptance of bitcoin as a settlement currency in its commercial debt collection division. We recently released a member viewpoint on the subject of cryptos and the expanding methods of buying and using them.

‘Roger Barter, co-owner of C.I.S. says, “Bitcoin has become more and more accepted as a form of payment. Bitcoin has several advantages over checks and credit cards. Transactions are instantly verifiable and are peer-to-peer without a 3rd party facilitator. P2P transactions have significantly lower transaction fees. Additionally, unlike merchant credit cards, Bitcoin payments are peer-to-peer and there is no 3rd party that can reverse the transaction, or give the payment back to the customer or debtor. In the world of high-balance collections, this is a game changer.” ‘

Interesting about the emphasis on risk versus checks and credit cards given the absence of 3rd parties.  Obviously there has to be some careful wording in these debt payment agreements, given the valuation instability of cryptos, but we would expect that C.I.S. has relatively immediate exchange agreements in place with the Coinbases and Krakens of the world.

It is also not clear how often a bitcoin might be used to cover a debt, so likely these are used as a last ditch method in privately held situations where crypto assets are a fallback. 

‘In its eleventh year, Corporate Intelligence Services actively pursues leveraging the most cutting-edge technologies to offer their clientele better service, and this is why they believed it was time to accept and embrace Bitcoin as a payment mechanism.’

Overview by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group

Tags: B2Bb2b paymentsBitcoincryptocurrencyP2P
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    open-banking Data-Sharing as a Solution to Cash Flow Issues standa

    Disjointed Open-Banking System in U.S. Leaves Opening for Permissioned Data Providers

    September 29, 2023
    FedNow

    FedNow Could Mean a Renaissance for Smaller Financial Institutions

    September 28, 2023
    Best Merchant Practices for Dealing with Supply Chain Disruption

    Nearly Half of Merchant Data is Probably Wrong. Here’s Why it Matters.

    September 27, 2023
    Mitigation of P2P Fraud Begins with Education

    Mitigation of P2P Fraud Begins with Education

    September 26, 2023
    digital payments

    Mass A2A Payment Adoption in The U.S. Contingent on Compelling USP

    September 25, 2023
    cashless payments mobile

    The Synergy Between Cashless Payments and Seamless Mobile Coverage

    September 22, 2023
    The Power of AI and How its Transforming the Financial Landscape

    The Power of AI and How It’s Transforming the Financial Landscape

    September 21, 2023
    “You’re a Fintech, I’m a Legacy Bank – How Can We Collaborate?”

    Investing in Fintech: Opportunities and Challenges in the Payments Industry

    September 20, 2023

    Linkedin-in Twitter

    Advertise With Us | About Us | Terms of Use | Privacy Policy | Subscribe
    ©2023 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    Menu
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • Recent News
    • Resources
    Menu
    • Industry Opinions
    • Recent News
    • Resources
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result