How Blockonomics Enabled MBS Media to Accept Bitcoin from its VPN Customers

Embracing innovation is crucial for staying competitive. Our latest case study explores MBS Media, a leading company in the VPN industry, and its thoughtful integration of Bitcoin payments.

Business Overview and Bitcoin Payment Integration

MBS Media was founded in 2019 and is renowned for providing secure hosting, streaming, and private VPN services. Its pioneers boast nearly 30 years of experience in the IT industry. After providing VPN services for a couple of years, they started to consider Bitcoin payments.

The need to integrate Bitcoin payments mainly stemmed from customer demands. Currently, 10% of their customers prefer to pay for VPNs in Bitcoin. Additionally, they provide services to other VPN resellers, who opt to pay in Bitcoin for their privacy.

They soon decided to accept Bitcoin and a reliable Bitcoin payment gateway was a non-negotiable for the business. They wanted to maintain the privacy standards their customers expect from them. Yet, adapting their payment methods to include Bitcoin presented unique challenges as we will soon explore below.

MBS Media decided to use Blockonomics as their preferred Bitcoin payment gateway. Through Blockonomics, MBS Media enhanced their services by offering a safe Bitcoin payment process, without compromising their core values of privacy and security. Markus Wahl, the founder of MBS Media, shares his experience with Blockonomics, and how it has helped maintain customer trust and satisfaction.

Customer Base and Bitcoin's Benefits

Here is a bird’s eye view of the customer base at MBS Media and the benefits that Bitcoin payments would bring about in its operations:

Expanding Global Access with Bitcoin at MBS Media

MBS Media, despite being based in Ireland, primarily serves a customer base that is 92% American. It faced challenges related to its traditional payment system and international customer base.

They needed to adapt to their customers' varied payment preferences and geographical limitations, particularly those who come from regions with stringent financial regulations. This is especially true for users in countries like China and Afghanistan, where financial transactions are heavily monitored. The adoption of Bitcoin was seen as a strategic move to address these needs, allowing for anonymous and secure transactions.

Enhancing Customer Privacy

By integrating Bitcoin, MBS Media would attain customer satisfaction by providing a payment method that aligns with the privacy and security values inherent to VPN users. According to a survey by Norton, 85% of adults want to do more to protect their online privacy.

The choice to accept Bitcoin would also specifically cater to the 10% of his customers who prefer to pay in Bitcoin, as well as the VPN resellers in MBS Media.

Customer Inclusivity

The decision to incorporate Bitcoin would expand MBS Media’s market potential. It would grow its reputation as a VPN service provider that prioritizes customer needs and preferences. It would also attract a new segment of customers who prefer to pay for their services in Bitcoin.

The Challenge of Accepting Bitcoin Payments

Bitcoin, by its nature, does not support automatic recurring payments — a standard feature in MBS Media’s subscription-based model. The inability to process automatic recurring payments posed a huge operational challenge. It meant that MBS Media needed to find a way to manage subscriptions without disrupting service continuity for the customer.

MBS Media uses an invoicing system to solve Bitcoin’s limitations on recurring payments. This involves sending invoices to customers before the renewal date, giving them ample time to make payments.

This prevents any interruptions in service that might arise from unpaid subscriptions. In case payment is not received, the service is automatically paused but will resume once payment is made.

How Blockonomics Provided a Solution

Blockonomics stepped in as an ideal solution for MBS Media, addressing the core challenges of integrating Bitcoin payments securely. As a leading Bitcoin payment service provider, Blockonomics offered several advantages that were directly in line with MBS Media's operational needs and values:

Privacy and Security:

Blockonomics provides a payment gateway that maintains the privacy of the user by not requiring extensive personal information. This feature is crucial for VPN users who prefer to keep their financial transactions anonymous. Blockononomics also does not manage the funds of either party ( customer or business). Instead, funds go directly from the wallet of the customer to the business, preventing any chance of fraud or attack.

Global Accessibility:

Bitcoin, being a decentralized currency, is accessible worldwide and not confined by national banking regulations. This allowed MBS Media to tap into markets like China and Afghanistan, where traditional banking systems do not support the privacy and anonymity of payment that is common in VPN services.

Ease of Integration:

Blockonomics offers easy integration tools that allowed MBS Media to seamlessly incorporate Bitcoin payments into their existing systems without any issues. This ease of integration ensured that MBS Media could continue to focus on its services without being slowed down by technical complexities.

Non-reliance on Traditional Banks:

With Bitcoin payments, MBS Media could bypass the conventional banking system, reducing the fees associated with currency conversion and cross-border transactions.

Sales Spikes and Payment Methods Mix

You may or may not be a Taylor Swift fan but you have most likely heard about the Ticketmaster website crash after millions of people wanted to buy the pre-sale tickets to her concert. This goes to show how important it is to have a payment gateway that is smooth and reliable at all times; whether at little or high volume of sales.

MBS Media periodically offers promotional discounts for six-month subscriptions. At these times, they experience notable spikes in revenue from these subscriptions. Despite these periodic surges, MBS Media maintains a stable customer base.

As MBS Media experiences a surge in customer purchases, Blockonomics’ infrastructure scales to meet this increased demand. This scalability is key to maintaining a smooth checkout process for its customers.

MBS Media has tailored its payment methods to suit different financial circumstances and the fluctuating value of Bitcoin. Customers are offered the freedom to choose from the following payment options:

• Bitcoin
• Cash apps
• Credit cards

The careful balance of accepting traditional payment options and Bitcoin helps build a loyal and satisfied customer base.

Conclusion

The partnership between MBS Media and Blockonomics is proof of a successful integration of Bitcoin payment solutions in a subscription-based business model, such as in the VPN industry. Blockonomics streamlined Bitcoin transactions for MBS Media while also reinforcing its commitment to privacy and security.

By leveraging Blockonomics as your trusted partner in processing Bitcoin payments, your business remains competitive and responsive to the evolving demands of customers. Start accepting Bitcoin payments today!