Credit Cards (Merchant Processing) Options in BTCRetailX

We connect with two companies, Verifone and CloverConnect, for credit card processing (also known as Merchant Processing). Both companies offer consistent processing. Pricing is dependent of several variables. It is recommended to contact each provider to get a rate quote.

CloverConnect (formerly Bolt CardConnect via Cardpointe)

Apply for merchant services with CloverConnect at:


Verifone via Media Group Payments

Apply for merchant services with Verifone/Media Payments Group at:
Verifone Request for Application

Setting Up Sales Tax in BTCRetailX

BTCRetailX can process sales tax in multiple ways including 1)Tax Included, 2) Destination Based Tax and 3) VAT/GST tax. The destination based tax is what is seen in the United States where sales tax is added after the subtotal of goods and services. The VAT/GST is built in to the price of the goods and services already before checkout.

Tax Included

This is the easiest of the sales tax methods to implement. From the Configuration Menu, click the Tax tab and select Tax Included, then fill out the Tax 1 Rate Name and Percentage. If you need a second rate, fill out Tax 2 Rate and Percentage. These can be combined in one item or used separately.

Tax Rate in Configuration Tax Tab

When you go into the Item, you will see Tax 1 and Tax 2 listed. You can modify the percentage for each individual item here. If you do not want to charge a tax for that Tax Rate, change the percentage to 0.00 or leave it blank.

Tax Rate in Item Detail Screen

Ring up your item and see the tax added

Destination Based Tax Includes VAT/GST Settings

This tax is jurisdiction based and can be variable based on product sold. You might have to charge 6% tax in one county, but 7.5% tax in another county. Or you may have to charge 9% for durable goods and an extra 2% for hospitality tax for prepared foods. The difference between VAT/GST and Tax Added sales tax is the Tax Included or Tax Excluded setting.

There are two places to work on taxes with Destination/VAT/GST based taxes in BTCRetailX. The main menu Taxes button and the Configuration button.

Start with clicking the Taxes button. You be presented with four tabs: Tax Codes, Tax Jurisdictions, Tax Categories, and Tax Rates.

Tax Setup

Tax Codes – these codes allow you to group Customers in geographic tax locations such as for customers having product delivered in another state where the tax due is different than that being delivered in state. The tax code is assigned in the Customer Detail view.

Tax Codes

Tax Jurisdictions – these are the tax locations that your store delivers or sells goods in physically. Most stores will have one Tax Jurisdiction if you sell at your store and customers take the goods with them. However, if you deliver products to multiple jurisdictions such as inside different city limits, you will charge tax per that jurisdiction where product is delivered.

Tax Jurisdictions

If you show tax owed (NOT VAT or GST) per item in the total, then you will choose Tax Excluded. The system will show the item price separate from sales tax in the total.
If you sell with VAT/GST included, choose Tax Included. The system will show just the item price that includes the VAT/GST.

Tax Categories – these are the different types of items and how they are taxed such as Food, Non, or just a generic Tax.

Tax Categories

Tax Rates – build the actual rate with all of the previous built codes from above. Here we built a Tax Code charging 7.000%.

Tax Rates

At this point, you can edit the Item Detail of a product and choose the Tax Code to be used for that item. You can do this individually with all items. The next section shows you how to set the store default Tax Code. You can then build a Non Tax tax code here for the typically smaller amount of goods that are non-taxable and edit those NonTax items and let the majority of taxable items be taxed according to global settings.

To set the Global Tax Default, build the destination based taxes as shown above, then go to the Configuration menu and click the Tax tab. Check the Destination Based Tax checkbox. Then select the corresponding Default Tax Doe, Tax Category and Tax Jurisdiction. The system will charge tax per these settings. You must build a NonTax category and rate in the Taxes setup above in order to exclude those products from getting taxed automatically with these Global Tax Settings in place. You could set tax categories exclusively in the Item Detail and not select defaults if you have multiple default rates.

Global Tax Settings

NOTE: generally speaking (check with your tax authority), gift cards and vouchers are not taxable when sold, but when redeemed. This includes Bitcoin Vouchers, Bitcoin Lightning Vouchers, Gift Cards and Gift Certificates. We recommend you set these items up as non-taxable if enabled in your item list. If we configure your tax setup, we will mark the items as non-tax for you.

Import Items into BTCRetailX

Importing Items can be accomplished but you have to prepare the system in order to have a successful import. This includes building each item’s Supplier ID and item Category beforehand.

Items and Suppliers can be imported into the system:
Download the Import Items CSV template.
Download the Supplier CSV template.

If you haven’t already, in BTCRetailX, click the Office button, then click Items. Select from either Categories or Suppliers and create the necessary entries manually or via import (Suppliers only).

For Categories, you must note the Category Name to be used in the Item Import file (it is the only Required Field as the system will create an item ID automatically if you do not provide one).

IdCategory NameCategory Description

For Suppliers, you must note the Supplier ID to be used in the Item Import file. Note – you can also import Supplier lists into the system. There is a Supplier CSV file to download. Required Fields include Company Name, Category, First Name, and Last Name.
Category is one of two entries:
Goods Provider – this is for resell goods providers
Cost Provider – this is for suppliers of products that are expenses to you and not directly part of the cost of goods sold

IDCompany NameAgency NameCategoryLast NameFirst NameEmailPhone Number
1Franke GoodsGoods ProviderFrankeBill
2Willy WidgetsGoods ProviderWestersonWilly
3Mario n LuigiCost ProviderManzettiMario

Then you can open the Import Items CSV template file.

This file has 21 fields in it. Required Fields for import are Item Name, Category, Cost, Price, Quantity stock, Receiving Quantity, Reorder Level, and location_stock.

  • ID – numeric only, must be unique, can be system generated if blank. You cannot use itemID from 1-10 as they are system used, start at 11.
  • Barcode – can be any format, system will copy ID to this field if left blank, or you can scan existing barcodes into this field. If this field has leading zeroes (0), the column must be formatted as Text or the it will remove the zeroes.
  • Item Name
  • Category – use the Category name as listed in the example above (Food, System, Books, etc)
  • Supplier ID – use the Supplier ID as listed above in the Supplier Import example (1,2,3,etc)
  • Cost Price – this is the cost of the product at wholesale: 1.00, default is 0.00
  • Unit Price – this is the retail price of the product: 2.50, default is 0.00
  • Tax 1 Name – only used for item specific taxation, ignore if using Destination Based Tax (typical)
  • Tax 1 Percent – only used for item specific taxation, ignore if using Destination Based Tax (typical)
  • Tax 2 Name – only used for item specific taxation, ignore if using Destination Based Tax (typical)
  • Tax 2 Percent – only used for item specific taxation, ignore if using Destination Based Tax (typical)
  • Reorder Level – default is 1
  • Description
  • Allow Alt Description
  • Item has Serial Number – yes/no
  • Image – image filename (widget.jpg)
  • HSN – Harmonized system number – this is the import code of the product
  • location_stock – default is 1 – each store is a location# (1,2,3)
  • quantity – default is 1
  • UPC – unique product lookup code (universal product code)
  • Alternative Lookup – unique product lookup code, typically a suppliers ID of the product, used in Receiving vouchers.

Save your file and then go to the Item page and click the CSV Import button.
Click the Select File button and select and import the file by clicking the Submit button.
If it loads the item list quickly, you should have a successful import.
If the screen hangs upon Submit, it is either a large import or has invalid or missing data – you will need to review the data you entered. Frequent support questions about the import process come in when location_stock is left blank.

Increase Sales By Increasing Payment Methods You Offer

Conducting business online has become the norm for consumers and businesses alike. Similarly, digital payments has become normalized both in-store and via ecommerce sales.  Alternative payment methods, those beyond traditional credit cards and cash, such as PayPal and Stripe are becoming mainstream but also many in the world are talking Bitcoin and various cryptocurrency payments.

With online sales growth year over year reaching 24% annually and with 2 billion people looking to spend money on line, it pays for you to accept whatever payment method your customers want to use.

Despite this significant increase in consumers buying online, most are abandoning their shopping cart at checkout – at nearly a 70% clip of abandonment. A large portion of abandonment is “window shoppers” not ready to buy, but many are due to fixable issues:

  • 18% of online shoppers experienced a long and complicated checkout process
  • 17% didn’t trust the site with their card information
  • 7% said the company didn’t offer enough payment methods

You can greatly increase your chances of converting consumers from browsers to buyers–and increase ecommerce sales—with these simple payment optimization strategies.

Accept a variety of payment methods and currencies

Methods of payment are diversifying and your customers are using them all. Credit and debit cards are still popular, but alternative payment methods like PayPal and Stripe are on the rise.  But so is Bitcoin and cryptocurrency.  30% of US households hold cryptocurrency and it is proven that Bitcoin holders are especially loyal to stores that accept Bitcoin as payment.  Further, Bitcoin is accepted as payment and legal tender in many countries around the world today.  Don’t forget about gift cards and loyalty points as payment options as well.  BTCRetailX provides various payment methods in both the BTCRetaiLX point of sale and WooCommerce shopping cart.

Streamline the checkout process

Have you ever had to fill out both the ship-to and billing address fields, even when they are the exact same? Businesses that can auto-fill these fields or, even better, provide a one-click checkout process create an optimized shopping experience, increasing the likelihood of repeat business. Having this payment convenience, often called card storage, makes it easier for consumers to come back again for a checkout experience that is fast and easy. The result? Increased revenue potential and a great customer experience.  BTCRetailX provides this function via Account Management in the Woocommerce shopping cart.

Deliver a seamless, branded experience

It’s proven that the less friction you have in your checkout process, the better your checkout conversion rate will be. BTCRetailX has the functionality in place to make a seamless experience possible from the brick and mortar point of sale to the ecommerce shopping cart.  

Analyze to optimize ecommerce sales

All of these front-end payment strategies can lead to improved customer experiences and more revenue for your business. But don’t forget about the wealth of valuable information you have at your fingertips on the back-end. Reporting tools provide important insights to help you optimize checkout conversion. Imagine knowing the reasons behind declined transactions, chargebacks, and disputes. You can use this intelligence to optimize your business. You can also analyze sales trends to better plan for any number of situations like seasonal boosts. Data is power to help you manage and grow your business.

With these tips, you’re bound to lower your online shopping cart abandonment rate, increase ecommerce sales, and create a scalable online payments strategy this year and beyond. Ask your rep at BTCRetailX for details on this process.

Why Accept Bitcoin or Lightning as Payment?

If you are a merchant retailer new to the concept of accepting Bitcoin, either on-chain or off-chain (I’ll briefly cover these shortly), I wanted to post a brief overview that covers the why of acceptance.

Bitcoin is a electronic payment method that was introduced in 2009 and has grown organically over time. From a proof of concept worth fractions of a penny to a method of payment and store of value worth many thousands of dollars in 13 years is astounding. Without going into Bitcoin’s reason for being and its use as hard money (these concepts and more are covered by many specialized economic theory books), let’s just talk the basics of business interaction with customers.

Business owners go head over heels to attract customers to their business in a myriad of ways. Advertising. Sales. Specialized products. Product availability. Coupons. And even payment methods… Cash, Credit Cards, PayPal, Cash App, Venmo, Check, Gift Cards/Certificates, Barter, etc…

Business owners invest in ways that make people want to shop with your business and having an easy to use method of payment is a very strong consideration. People love to use their credit cards because cards can typically provide free miles for travel, delayed payment with instant gratification, easing of cash flow, and the credit they provide. A lot of people aren’t aware that a lot of these benefits provided by the credit cards are passed to the merchant who then must decide to absorb these costs or add them to the cost of doing business to turn a profit. You, as a merchant, are paying for the gold card perks of Visa, MasterCard and American Express and you are doing it for an average of 3% per transaction. For every $100 received in as revenue from a credit card, you are spending $3 (minimum) for this privilege and convenience. This ends up taking away 6% in margin away from your net profit. That adds up to a lot of money that #Bitcoiin via lightning payments mitigates almost completely. Imagine a 6 million dollar a year in sales business transitioning to #Bitcoin lightning payments and saving $150,000 a year in credit card fees. That is the vision.

This incentivizes your customers to spend #bitcoin via lightning because your savings will be passed down to the customers via lower prices thru market forces. You are no longer absorbing a full 3% in fees. You’ll want to adjust your prices to reward/incentivize those who spend their #bitcoin with you.

Some facts about #bitcoin lightning:

  • Due to the adoption of #Bitcoin via Lightning by the $CashApp (primarily in the US) and Chivo in El Salvador, the Lightning network has grown 400% year over year.
  • #Bitcoin Lightning facilitates INSTANT PAYMENTS (just as quick or faster than credit cards) between your customers and your point of sale terminal.
  • #Bitcoin Lightning facilitates INSTANT SETTLEMENT of funds – no waiting 24-48 hours for your funds to sweep to your bank account like standard credit card payments.

BTCRetailX integrates Bitcoin Lightning payments in its point of sale but the BTCRetailX team can also integrate Bitcoin Lightning payments into most existing legacy financial transaction systems including accounting, hotel ecommerce and legacy point of sale. Just ask.

Post Bitcoin2022 Conference Energy Boost

What an amazing time to be in this industry. Point of Sale has been the MOST BORING industry for decades. And I should know, I’ve been a part of it for 14 years selling point of sale systems from Intuit and Microsoft. I have been looking to replace my legacy products for years. They are bloated, they expire often and have huge subscription fees, and the publishers generally don’t listen to their customers because they are beholden to their stockholders and the bottom line. Nor do they specifically care about privacy or self-sovereignty and self-custody. I wanted something better.

Bitcoin2022 in Miami is electric

Last year, I attended Bitcoin2021 in Miami and left with a goal to get a viable point of sale up and running (because El Salvador and ya know, @nayibbukele and @jackmallers) to enable bitcoin and Lightning Network payments integrated alongside traditional payment methods (ie credit cards). Along with my knowledge of the point of sale product and industry, I am also a privacy, and bitcoin, advocate and bought a @start9labs Embassy personal server. The @start9labs Embassy provides a privacy-centric and security-based platform with a marketplace of apps that fits this ethos. I decided to build (wrap) an app specifically for this platform. A platform that hosts a Bitcoin Core node, Lightning Network Daemon (LND), and various tools and utilities to facilitate payments and privacy. My thinking is that small business owners will want the option of self-custody of their hardware and bitcoin for privacy and lower capital costs.

Start9 crew at Bitcoin2022 with BTCRetailX, a user contribution to the platform

I then spent the last ten months getting a team together to enable bitcoin/lightning and credit cards into a functional and quick retail point of sale system specifically to release at the Bitcoin2022 conference. After some speed bumps and hiccups along the way, we got it done. The proof of concept hardware/software bundle that is #BTCRetailX 0.1 was received with amazing reviews by everyone that took a look while at the conference. The fascinating part of this is that after 14 years of attending stuffy, corporate conferences, the BTC2022 conference in Miami (@thebitcoinconf) was the best one I’ve ever been to in terms of engagement, energy, referrals, partnerships and customers for any previous point of sale product I’ve ever presented, full stop, period.

I’ve met store owners in Mexico, hotel owners from Europe (which we have a solutions too), numerous cannabis dispensary owners, mom and pop shop owners, sales teams wanting to resell the product, distributors wanting to provide their services in Latin America, and Europe, ATM companies (several) wanting to integrate the payments functions, as well as people wanting to license and white-label the product for their own reseller needs.

Not doxing anybody but this guy is super base. Fun time in Miami.

The energy I took away from Miami is what is supposed to happen at a conference and this energy has been missing for a few years. While I would like to say it was my product that was the rails to provide the energy, it was the buzz of #bitcoin that electrified the audience.

While I appreciate all the @jackmallers is doing from his platform to get the corporate world to embrace #bitcoin and the NCR news is goodnews overall for the industry, I, along with countless others are also growing this industry organically and with passion. We all have a vision for better money and it is available now.

BTCRetailX and hardware bundle

#btcretailx is available in two flavors:

  • as an on-site bundled system for those that want a self-custody, self-sovereign point of sale system with one up-front price
  • as a hosted solution for those that want more oversight in system management and support of their system via a subscription and product lease.

As a wrap to an amazing week of networking, I want to remind everyone that bitcoin is for everyone. It’s for our kids, it’s for the poor, it’s for the wealthy, it’s for everyone, and it’s for this amazing guy, Jimmy Void, of the Bronx Bitcoin Bulls, and his @maxkeiser signed #bitcoin tat. I stood in line Saturday morning with Jimmy and his crew talking bitcoin monetary theory, and it was dope.

For more information on BTCRetailX (click this link), or reach out to us via our contact form.

BTC Retail X is Available – 0.1 Release

We’ve been hard at work getting ready for Bitcoin 2022 in Miami. Our hard work is paying off. We have a retail point of sale (BTCRetailX) that provides integrated payments for bitcoin lightning as well as credit cards now! Take Visa, Mastercard, Amex and Discover along with Lightning payments in your point of sale. Integration is key as this lessens the occurrence of errors in data entry – the system sends the balance due to the credit card machine or bitcoin QR code generator instead of having a cashier having to type in the amount in a separate system. And it’s fast!

Take a look:

Reach out to us if you are interested. Learn more on the BTCRetailX page.

Integrating BTCPayServer or LNBits API

Do you want to accept Bitcoin and BTC/Lightning Network payments? Don’t make a quick decision thinking it will be a piece of cake implementation just because your Umbrel or Start9 Embassy has a one-button install. Just like any business tool implemented, you will want to be prepared. This provides some of the questions we ask our clients about how they want to run their implementations.

  • What is your estimated volume? Low (1-500 month), Medium (501-2500), High (2501 and up)
  • What system is btcpayserver or LNBits hosted on or do you need us to provide a hosting platform?
    • Are you self-hosting on a Raspberry Pi via Umbrel, Start9, Nodl, Casa or other? If so, give thought to physical node security as well as bandwidth if you run a busy store with lots of transactions.
    • Are you hosting on a VPS system? Security needs to be hardened, as well as enough resources deployed.
  • Are you connecting to your own lightning node to facilitate payments?
    • If so, is it installed and running? 
    • If not your own node, are you using a service such as opennode or lnpay?
    • If connecting to your own lightning node, is it accessible via clearnet ( for example) or is it on tor onion site?
    • If on tor, do you have a VPS host so reverse tor proxy can be configured?
  • What system will be processing via btcpayserver or LNBits? ( WooCommerce, Shopify, etc)
    • Will you need this system configured for the btcpayserver connection?

These are many of the questions that will help us understand your business model to adequately provision a system for your needs.

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