LOS ANGELES--(BUSINESS WIRE)--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.”

Here is what you need to pay with Dogecoin on Newegg.com: “When completing an order on Newegg.com, customers who want to pay with Dogecoin simply click ‘Edit’ in the payment section on the checkout page, then select BitPay. Customers can then complete their transactions using Dogecoin held in their digital wallet. Just a simple walk through of how to use Bitcoin to purchase an item on Newegg, for those who are unfamiliar with the wallet software.

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.

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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.”

More information about using Bitcoin on Newegg is available at http://www.newegg.com/bitcoinaccepted. Like Newegg on Facebook and follow Newegg on Twitter to stay up to date on the company’s latest news.

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. For more information, visit http://www.newegg.com.

About BitPay

Founded in 2011, BitPay is the pioneer and the most experienced company in Bitcoin and blockchain payments. Its suite of products enables businesses to send and receive cross border payments, also enabling consumers to manage digital assets with the BitPay Wallet and turn digital assets into dollars with the BitPay Prepaid Visa® Card. The company has offices in North America, Europe, and South America and has raised over $70 million from leading investors including Founders Fund, Index Ventures and Aquiline Technology Growth. For more information visit https://bitpay.com

Does Newegg Accept Bitcoin

Bitpay Newegg

Partnership Brings Secure and Reliable Bitcoin Payments to Newegg’s 25M+ Customers
July 1, 2014 – Los Angeles, CA – Newegg, the leading electronics e-retailer in North America, today announced a partnership with BitPay to accept bitcoin payments on Newegg.com (#NeweggBitcoin). The company’s more than 25 million registered customers can now pay for more than 10.5 million products including electronics, computers, game consoles and household items using bitcoin through BitPay. Newegg’s acceptance of bitcoin payments adds yet another convenient and secure way for its customers to fulfill their e-shopping needs.
“Newegg’s customers are among some of the earliest bitcoin miners and are enthusiastic proponents of the crypto-currency. Adopting bitcoin as a payment method is another way we’re responding to our customers’ diverse needs,” said Soren Mills, Chief Marketing Officer for Newegg North America. “Working with BitPay to implement a bitcoin payment option at Newegg was a seamless process and our partnership gives us the capabilities we require for high-volume e-commerce.”
Newegg chose BitPay because of the company’s industry-leading reliability and scalability. With BitPay’s platform, Newegg can accept bitcoin payments and also handle refunds and payment exceptions with the most powerful bitcoin API in the industry. BitPay’s singular focus on building enterprise-grade merchant tools helped the company achieve 99.99% uptime – unrivaled reliability in the industry.
“Our mission is to make bitcoin every merchant’s favorite form of payment. Forward-thinking merchants like Newegg allow bitcoin enthusiasts from around the world to shop with ease,” said Tony Gallippi, BitPay’s Co-founder and Executive Chairman. “Newegg has been the most requested retailer from the bitcoin community and our collaboration will serve this pent-up demand.”
BitPay now serves more than 35,000 merchants and has raised over $32 million in venture capital funding. The company plans to hire 70 new employees this year to continue developing its product and adding more merchants. BitPay’s partnership with Newegg is yet another example of how the company is partnering with leading vendors to bring bitcoin into mass acceptance.
When completing an order on Newegg.com, customers can now select “Bitcoin” from the list of available payment methods during stage two of the order process. Orders processed using BitPay can be completed using the following options:
• If the customer has digital wallet software installed, that customer can complete an order by clicking the “Pay with Bitcoin” button.
• If the customer’s digital wallet is stored in a smartphone, a QR code can be scanned on the Bitcoin Payment page to complete the transaction.
• If the customer’s digital wallet is hosted on the web, the customer clicks the “View Address” link to display the digital wallet address and send the bitcoin amount due.
Newegg customers will be able to execute bitcoin transactions beginning today. For more information about Newegg’s acceptance of bitcoin, visit http://www.newegg.com/bitcoin.
About Newegg Inc.
Newegg Inc. is the leading electronics-focused e-retailer in the United States. It owns and operates Newegg.com (www.newegg.com) which was founded in 2001 and regularly earns industry-leading customer service ratings. The award-winning website has more than 25 million registered users and offers customers a comprehensive selection of the latest consumer electronics products, detailed product descriptions and images, as well as how-to information and customer reviews. Using the site's online tech community, customers have the opportunity to interact with other computer, gaming and consumer electronics enthusiasts. Newegg Inc. is headquartered in City of Industry, California. The Newegg Hybrid Center is located at 18045 Rowland St., City of Industry, CA 91748.
About BitPay
BitPay is a Payment Service Provider (PSP) specializing in eCommerce, B2B and enterprise solutions for the Bitcoin digital currency.
Media Contact:
BitPay
Jan Jahosky
407-331-4699
jan@bitpay.com

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