United Pharmacies introduces Bitcoin payment method
Wed 3 Aug 2016
United Pharmacies, an online drugs seller with global reach, is now offering a discount to customers who pay for their medicine using the virtual currency Bitcoin.
United Pharmacies, which opened for business five years ago and ships more than 100,000 orders annually, has added Bitcoin to its selection of payment methods and is offering customers 10% off their purchases to celebrate the launch of the new feature.
The medicines platform hopes that the new payment method will make it easier for more consumers to access a wide range of commonly prescribed medication online. It also believes that the process will guarantee a higher level of anonymity to protect its customers’ privacy.
United Pharmacies writes on its online ‘About’ page: ‘All order details remain confidential and deliveries are discreetly packaged in cardboard boxes with no markings regarding “medication” or “pharmacy”.’
A customer wishing to pay via bitcoins must have an existing virtual wallet set up online, and access to a bitcoin buying platform. The website FAQ suggests ‘not buying and storing any bitcoins until we send you the emailed confirming the amount of bitcoin needed for the order.’ It adds that this way the customer will only hold the bitcoins for a short period of time, and will be protected from ‘any potential bitcoin wallet security issues.’
The FAQ continues that United Pharmacies will give the customer the wallet address, and that they can send in the ‘order number as the note or message for the transfer.’ Following the transfer, the online pharmacy will immediately acknowledge the payment and ship the order.
The company will still guarantee refund and replacement policies for Bitcoin payments, in the same way as for traditional transactions.
The pharmaceutical industry has been reluctant to consider crypto-currencies due to strict Know Your Customer (KYC) requirements which stipulate that businesses must verify the identity of their clients. The regulations aim to cut back on identity theft and other fraudulent activity.