Finance man introduces Bitcoin to local shops

Allan Bowe with Heather Woods of Coffee Bar 7 Windermere

Allan Bowe with Heather Woods of Coffee Bar 7 Windermere

First published in News The Westmorland Gazette: Photograph of the Author by , Reporter

LAKE District businesses are embracing a digital currency after expert advice from a former South Lakeland school pupil.

Now working as a finance and technology specialist across Europe, Allan Bowe returned to his family roots in Windermere last month and realised there were few areas to spend Bitcoin.

He visited shops and traders in Windermere and Bowness in a bid to convince businesses to enter the digital age – with some success.

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Coffee Bar 7 in Windermere has joined Hubble Bubble Organics and The Mere Gallery, both in Bowness, in accepting Bitcoin as valid tender.

“I got a range of responses,” said the 32-year-old. “As soon as I mentioned Bitcoin some people asked me to leave but others were interested. Some had never heard of it.”

He added: “I gave my nieces Bitcoin for Christmas and they complained they had nowhere to spend it so when I came back I decided to try to change that.

Mr Bowe, who attended the Lakes School and Kirkbie Kendal School, said there are numerous advantages to Bitcoin.

”As someone who travels around a lot it means you don’t have to deal with so many different currencies,” he said.

He added retailers are charged a monthly fee to use credit/debit cards, with a minimum term contract and around a three per cent cost for a transaction – while Bitcoin can attract less than a one per cent transaction fee with no monthly fees or contracts.

Bitcoins can be stored in the cloud so there are no worries about losing a card or forgetting the pin number.

Consumers can easily send coins to anyone with an email address, phone number or Facebook account and can be transferred within seconds.

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“In five years time I think everyone will be using or no-one will be using Bitcoin so it does no harm to get on-board now,” said Heather Woods, manager of Coffee Bar 7, on Oak Street, Windermere.

Comments (2)

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6:34pm Wed 25 Jun 14

ELBEAN says...

PIN, it's a 'PIN'.
PIN, it's a 'PIN'. ELBEAN
  • Score: 0

9:04am Fri 27 Jun 14

Keeping_it_real says...

Really REALLY pleased businesses and people are adopting Bitcoin as an alternative method of payment. It really is easy to use, it's safe and it's so much cheaper for retailers than conventional credit cards etc. I use it often via various online retailers like Kings of Shaves www.shave.com and it’s so straight forward!

The Lakes and Bowness in particular attracts so many international visitors, it will make transactions so much easier for many, especially since they can pay you directly via their mobile phone without having to worry about international transaction fees, or having to find somewhere to buy Sterling. It’s instant and there is no risk of charge backs either!

Before people post negative comments about Bitcoin, make sure you understand it first or have used it at least!

For people or retails interested in Bitcoin use, a good place to start in Coinbase or Blockchain. Both offer free Merchant capabilities. You don’t need specialist equipment (although various equipment is available) other than your mobile phone or even an iPAD.

I’m in Kendal and I’d be happy to help anyone with advice on how it works.
Really REALLY pleased businesses and people are adopting Bitcoin as an alternative method of payment. It really is easy to use, it's safe and it's so much cheaper for retailers than conventional credit cards etc. I use it often via various online retailers like Kings of Shaves www.shave.com and it’s so straight forward! The Lakes and Bowness in particular attracts so many international visitors, it will make transactions so much easier for many, especially since they can pay you directly via their mobile phone without having to worry about international transaction fees, or having to find somewhere to buy Sterling. It’s instant and there is no risk of charge backs either! Before people post negative comments about Bitcoin, make sure you understand it first or have used it at least! For people or retails interested in Bitcoin use, a good place to start in Coinbase or Blockchain. Both offer free Merchant capabilities. You don’t need specialist equipment (although various equipment is available) other than your mobile phone or even an iPAD. I’m in Kendal and I’d be happy to help anyone with advice on how it works. Keeping_it_real
  • Score: 1

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