In this case, privacy when paying with Bitcoin doesn't make much sense, because it's about delivering food to the user's address
My bad, I was thinking of that, but as I rarely eat out, I do not quite know their privacy policy and I assumed they do not store the data they receive such as customer address but a transaction cannot be deleted as it's needed for accountability.
- but still maybe some could have problems with refund to their bank accounts, because some banks are not crypto friendly.
The refund would have nothing to do with cryptocurrency from what I understand; you send them Bitcoin, they convert it instantly using a payment processor and receive Fiat. If an order is cancelled later, they'll be paying from their euro account into the customers account, the bank would not be involved in the initial cryptocurrency transaction.
But what about Bitpay's conversion rate? I've never used Bitpay, but it sounds like a suspiciously good deal.
According to their website they do not charge any hidden fees besides the 1% and they take their conversion rate from exchanges for U.S and Euro purchases, while other regions is done indirectly
To calculate the exchange rate for US Dollars, we typically pull the market depth from an exchange with adequate liquidity and reliable withdrawal capabilities in the USA and Eurozone. We factor "slippage" into our exchange rates, which means that the larger the value of the invoice, the lower the exchange rate. Slippage is usually only noticeable on very large invoices.
We set exchange rates for non-USD currencies indirectly using the
Open Exchange Rates API. In the future, as Bitcoin markets in non-USD currencies mature, BitPay will use those markets directly.