Quote from: dashingriddler on June 21, 2014, 08:27:55 AM

Quote from: btctechie on June 21, 2014, 05:21:57 AM

Hi,
I saw the flow of payment processing on https://www.unocoin.com/merchants.php . How do you handle volatility risk for merchant as the payment reaches merchant account in 3 days ?

The btc got for the merchant's invoice is sold as soon as the btc transaction is confirmed. Just the merchant getting the INR will take upto 3 days. Merchant will get exactly the INR he has invoiced for his shoppper.
If you are buying a computer for 25,000 INR and if you pay using bitcoin, then the merchant get exactly 25,000 INR with in 3 business days (it will usually be next business day though).

So absolutely no risk of volatility for merchants.

ok, then its fine

All the best guys!!!! I am a bitcoin developer myself and I am happy to see these kind of projects rolling out in India.

btctechie

Posts

Merits