Entatech is pondering whether to accept cryptocurrency Bitcoin as a new form of payment from its customers.
The distributor is looking into adopting the virtual currency, just weeks after PCR broke the news about Scan Computers becoming the first UK PC retailer to embrace it.
Kate Fuller, Entatech marketing manager, said: “We’re currently exploring opportunities to start accepting Bitcoin as payment from our customers and are in the process of getting feedback from them to see if there is any demand for this payment method.
“Although only a relatively small amount of businesses are using them at the moment, it has the potential to be huge and give real benefits to customers. As with everything new – and as it’s an open source currency and is subject to exchange rate fluctuations (as with any other currency) – we need to evaluate it thoroughly before offering it to our customers.”
However, David Emm, senior security researcher at Kaspersky Lab, says companies should be wary of cybercriminals.
“As a method of payment, it’s fast and convenient, there are no processing fees and it offers anonymity – important at a time when concerns about privacy on the internet are growing,” he told PCR.
“If Bitcoin continues to attract more people, it’s likely that more retailers will offer it as a means of payment.
“Of course, all this is attractive to cybercriminals too. And the more we use Bitcoin, the more likely it is that they will seek to make illegal profits from it.”
Scan Computers has partnered with online merchant BitPay to accept Bitcoin payments from its customers. Scan’s James Gorbold stressed that it’s a soft launch for now, but is excited about its potential in the future.
“Currencies came about thousands of years ago to enable people to trade in a better way, and Bitcoin is another logical step forward in that direction,” he said.
“Our customers want to spend Bitcoins, we want to embrace that and allow our customers to pay how they want to.”