Cryptocurrency payments are becoming a new norm in the modern financial system and Georgia Plastic, a plastic surgery center in Atlanta, is joining this system as it now accepts Bitcoin and other cryptocurrencies as payment.
Georgia Plastic, also known as Georgia Plastic and Reconstructive surgery, announced the news in a press release on Tuesday, October 19. According to the announcement, this surgical center is “one of the first major Plastic Surgery centers to accept cryptocurrency for surgical and non-surgical aesthetic procedures.”
Georgia Plastic’s crypto payment system will support several popular crypto wallets like Blockchain.com, BRD, Metamask, and BitPay, along with the other wallets and exchanges such as Coinbase.
The center will accept Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Bitcoin Cash (BCH), Wrapped Bitcoin (WBTC), Litecoin (LTC), and five stablecoin that include Gemini Dollar (GUSD), USD Coin (USDC), Paxos Dollar (USDP), Dai (DAI), and Binance USD (BUSD).
Now the system is in place, patients will be able to pay for cosmetic services at both Georgia Plastic and Amachi MedSpa, a boutique medical spa connected with Georgia Plastic, using approved crypto wallets.
Cryptocurrency payments are becoming increasingly popular and more and more companies are now accepting crypto. Dr. Stanley Okoro, a plastic surgeon in Georgia Plastic, commented:
“Over the last few years, we’ve seen how much power Cryptocurrency has and we expect this to continue to grow. We have a diverse patient population that resides around the world. We are excited to offer this new method of payment to meet their needs and continue to trailblazer innovation in patient care in the aesthetic industry.”
What do Crypto Payments bring to a Business?
According to a December 2020 estimate, more than 2,300 US businesses accept bitcoin excluding Bitcoin ATMs. 15,174 businesses worldwide accept Bitcoin. As with any frontier, there are both unknown dangers and strong incentives. Businesses are accepting crypto as payments because they believe it provides new customers to their platforms and brings transparency for customers.
This is evident by a recent report by BitPay, the world’s largest provider of cryptocurrency payment services, which finds that that up to 40% of customers who pay with crypto are new customers of the company, and their purchase amounts are twice those of credit card users as crypto users tend to spend more than other customers.
The report identifies that these benefits are because crypto is less expensive than card cards and there are no fraud-related chargebacks. Merchants that integrated BitPay for crypto payments reported an average return on investment of 327%.