Does FedEx Accept Bitcoin-Know More About It

FedEx is a company that is popular in most nations of the world. Their services are diverse and include transportation, business services like delivery of goods, and e-commerce. Let’s know whether or not Does FedEx Accept Bitcoin.

Does FedEx Accept Bitcoin

Considering the payment options listed on their website, one can easily conclude that, presently, Bitcoin hasn’t become part of their payment options. Bitcoin is a type of cryptocurrency and it shares some attributes with money but hasn’t been widely accepted as a legal tender. 

FedEx hasn’t been the only company that has refused to accept Bitcoin as a payment option. Others, such as Alibaba, Amazon, etc., have also refused to adopt this. 

The Reasons

Why FedEx and others are not accepting it is not farfetched and could be traced to some factors and considerations.

  1. Due to the volatile nature of Bitcoin, it can’t be depended on as a constant means of exchange, especially for a multi-national company like FedEx. A lot can be lost as the value appreciates or depreciates. 
  2. Its proneness to cyber-attacks is another major concern. Though there has been a major improvement in the Cyber security of most cryptocurrencies, however, a loophole will always be discovered. This could cost FedEx a whole lot of money.
  3. Another issue is the absence of inherent value.
  4. Bitcoin prides itself in its decentralized system, this however has been a major concern for merchants. It’s not been controlled by the US federal reserve. 
  5. Bitcoin transactions cannot be reversed once they have been used to transact. This poses a major problem for e-commerce should the customer, not like the product or if an issue arises that warrants a refund.
  6. The Internal Revenue Service has classified cryptos under the properties that will warrant you to be taxed. The implication of this is that if you are trading it or using it for other transactional purposes, you are mandated to pay tax. 
  7. The implications of all the above-listed factors point to one message, which is that it’s not yet ripe to be accepted as a recognized and approved system of payment.

Benefits of FedEx not adopting this mode of payment.

With the advent of credit and debit card payment, a whole wide world of opportunities sprang up, and this has been one of the main arguments for the global adoption of Bitcoin as a form of payment.

However, FedEx has enjoyed some privileges.

  1. FedEx has shielded itself from the volatility that comes with cryptocurrencies by not adopting this mode of payment. 
  2. That the company keeps on growing means that its reputation for fast and reliable payment delivery is being maintained at all times, shielding itself from the inconsistencies of Bitcoin payment.
  3. Except for the differences in the currencies of the nations of the world, FedEx payment methods don’t have variations that can generate too many confusing options.
  4. By accepting Bitcoin as a form of payment, other types of cryptocurrencies will have a case to prove should theirs not be accepted. FedEx has prevented itself from having to answer potential lawsuits and outcries on this end.

Advantages of accepting Bitcoin as a payment option.

  1. The most basic is the wide range of alternative means of payment available to clients. 
  2. FedEx also seems to be depriving itself of the benefit of enjoying reduced service charges that comes with Bitcoin. As of today, Bitcoin still charges less than PayPal.
  3. Another possible advantage for FedEx should it be accepted would be the inability to revert the funds once it has been sent and processed.

Authorized payment methods at FedEx

  • Direct Debit

Using this payment option to fund your FedEx account is always simple and hassle-free. You would have been requested to fix a payment plan that will suit your needs be it daily or for business

  • Credit Card or Debit Card

This is another payment option that is allowed by FedEx. You first have to link your card to your FedEx account. This helps to have your payment programmed. You can also make payment on the mobile phone if you put a call across to FedEx

  • Electronic Bank Transfer 

You can send money from your account to FedEx’s account. This type is also one that helps manage time by avoiding unnecessary long processes.

  • Some clients are given the privilege of receiving a paper invoice, such clients are often permitted to send the invoice back through the mail.
  • If you want to pay through electronic transfer or credit card, you can check in to your FedEx account and submit the payment.
  • FedEx online Billing is advisable should your transaction be a one-time or continuous one, especially for FedEx ground.

Conclusion

FedEx has its fair point, along with others, by not adopting Bitcoin as a form of payment. The instability in its value, for one, is more of a concern that tends to override all of its other attributes. This is not to, however, totally cast a shadow on the benefits that the company stands to gain should it decide to take a leap of faith.

Frequently asked questions about FedEx

  • Which FedEx service can you purchase with Bitcoin?

Answer: There are not many of their services to be paid for in Bitcoin. However, the postage and shipping label might be.

  • Does FedEx operate on a blockchain?

Answer: At the moment No, however, there is a scheme in development in regards to this. It will however be a form of data storage rather than a means of payment.

Does FedEx Accept Bitcoin-Know More About It

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