Why is integrating Bitcoin payment system important in a Uber Clone Script ?

M
Muthurengan 1 year ago - Created

Looking for a perfect Uber Clone Script? Well, one of the most remarkable features available today is a bitcoin wallet integrated with an uber clone script.

What is the importance of having a bitcoin wallet in an uber clone script and how it will help you and your customers, is what we shall be discussing in this article?

Uber clone script, bitcoin payment feature

The first thing that is worth knowing is, what exactly is a bitcoin and how it works?

A bitcoin is a digital cryptocurrency and a worldwide payment system. It is the world’s first decentralized currency. It is a peer to peer network where the transaction takes place directly without any intermediaries involved.

These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called blockchain.

Since its conception bitcoin has taken the digital world with a storm. It has also revolutionized the online payment system. Now with the availability of bitcoin wallet, it is possible to integrate bitcoin with any mobile application. There are many companies who have adopted the bitcoin mode of payment in their applications.

The taxi/cab booking industry is also not left behind. The major players in this industry have already adopted bitcoin as one of the payment modes.

Now, the million dollar question is what is the advantage of adding bitcoin as a mode of payment?

One of the major advantages is that the overall price for a ride may drop reasonably, as the brokerage charges and the additional taxes won’t be taken into account when making the payment with bitcoin.

For the international travelers, bitcoin will replace the foreign exchange overhead that adds up whenever they use the card for payment and thereby helps in saving a lot of money.

With the use of bitcoin, there won’t be any disruption of services since there wouldn’t be any issues between credit card companies and banks that have different regulations and currency rates. Removing the third party simplifies the transaction since payments would occur between two parties.

Another potential benefit would be the opportunity for commuters to earn loyalty points by using blockchain technology and splitting the cost of the ride between customers.

By the end of 2015, for the very first time, it became possible to ride an Uber with a bitcoin. Coinbase, one of the most reputed digital currency exchange headquartered in San Francisco California started something called Shift Cards that allows the users to spend bitcoins like regular credit or debit.

All the user has to do is open a coinbase account. The card is available in 24 states and can be spent online as well as offline at more than 38 million merchants globally. Uber is one of the merchants.

Now the question is how feasible is integrating bitcoin as a payment mode?

Some possible reasons why uber is not integrating bitcoin as a mode of payment is because of some discrepancies in currency conversion from Uber earnings. There are some feasibility issues while converting the Uber earnings to bitcoins via Shift bitcoin debit card.

One of the possible solutions to this problem is integrating the bitcoin payment gateway with the wallet. As a result of this, the user will be able to spend bitcoin by converting it into normal currency without any disruption of services.

As the mode of payment is encrypted and peer to peer without any third party involved it is as safe as it could be.

As a leading uber clone script maker, Smart Car Tech has a provision for making the payments by bitcoin in their software Nikola. The feature can be customized and made available to the potential business owner.

Let’s take a look at how Nikola uses bitcoin as a payment mode. In the wallet, there is an option for bitcoin. When the customer chooses bitcoin to make the payment, instantly a unique access key is generated.

This access key is then sent to Stripe which is a third party gateway that handles the transfer of bitcoin from the customer’s exchange. After getting the access key the exchange transfer the amount in bitcoin to stripe. When the payment is complete the user gets notified by an email from the stripe as a confirmation.

The whole payment process is encrypted and secured and the user as well as the business owner won’t be able to know what all is happening in the background.

Was this article helpful?

1 out of 1 found this helpful

Articles in this section