Company’s Longstanding Collaboration with BitPay Brings Bitcoin Transaction Capabilities to Customers Across the Globe
Newegg, the leading tech-focused e-retailer in North America with a global reach into more than 80 countries, today announced it will begin accepting Bitcoin in 73 additional Newegg country-specific stores. With these recent additions, Newegg customers can now pay with Bitcoin in nearly all of the countries the company serves worldwide.
“Five years ago, we were one of the first major online shopping destinations to accept Bitcoin, and our early-adopter customers were quick to embrace this new payment option,” said Anthony Chow, Newegg President Global Sales. “Broadening the ability to pay with Bitcoin to the majority of our global network underscores our commitment to bring innovation to the online shopping experience, and answers customers’ growing preference for our Bitcoin payment option.”
In 2014, Newegg partnered with BitPay to facilitate Bitcoin transactions for Newegg’s customers in the United States and later in Canada. Since this initial implementation, not a single chargeback has been required for any Bitcoin transaction on Newegg.com. The companies now build on this successful collaboration by extending the Bitcoin payment option to the 73 new countries announced today.
The value of Bitcoin has varied significantly over the past several years, yet its resilience is evidenced by its recent resurgence and ubiquity as a preferred international currency. BitPay – which processes upwards of $1B in Bitcoin transactions annually for its e-commerce partners – leverages the blockchain to provide transactional transparency and eliminate chargebacks altogether. Additionally, BitPay enables Newegg to increase its margin on each Bitcoin transaction by avoiding credit card fees typically assessed on credit card purchases.
“Bitcoin allows users to send and receive money just as easy as sending an email, opening up opportunities for businesses and consumers globally as a secure, low-cost transactional option for the merchants,” said Sonny Singh, Chief Commercial Officer at BitPay. “Newegg was among the first companies to see this opportunity and has continued to expand its Bitcoin acceptance to nearly all of its customers around the world.”
About Newegg Inc.
Newegg Inc. is the leading tech-focused e-retailer in North America, with a global reach into more than 80 countries in Europe, Asia Pacific, Latin America and the Middle East. Founded in 2001, the company offers its more than 38 million registered users a comprehensive selection of the latest consumer electronics, entertainment, smart home and gaming products. Newegg is consistently ranked as one of the best online shopping destinations, and the company regularly earns industry-leading customer service ratings. Newegg is headquartered in City of Industry, California, with North American distribution facilities located throughout the United States and Canada.