Building and maintaining strong merchant relationships is a crucial part of our business model. We maintain our relationships by dedicating a Client Operations team to provide industry-leading service which ensures seamless and reliable bitcoin payment processing.
The Client Operations team doesn't just handle payment exceptions (refunds, underpayments, etc.); they also help merchants understand how to profitably and efficiently integrate BitPay into their existing business processes. They work with our customers to establish the best practices to make bitcoin not just a payment option, but a preferred payment option.
Our team offers top-notch support to our merchants, and we have the numbers to prove it. While handling over 500 unique inquiries per week, we maintain an initial response time of less than an hour and an initial resolution time of less than three hours. We process standard payment exceptions within 1-2 business days – that's 1-2 days faster than traditional financial institutions.
As our merchant base of over 35,000 continues to grow, and we are continually working to improve these metrics using multiple channels. In addition to growing our team, we are investing in technical solutions and new product capabilities that should improve our product and service even more. We have allocated our resources based on the feedback and needs that were represented in our 75,000+ successfully handled support inquiries.
Looking forward, we are actively working on an interface to provide our merchants with improved visibility and enhanced utilities to better serve their customers.
We are offering a service that enables forward-thinking companies to further grow their customer base and give their users the most payment options. We wouldn't be able to do this without providing excellent service to our merchants. Our merchants benefit from a reliable product that's easy to fully take advantage of, while we benefit from their business. Every time a merchant submits a support inquiry, we see it as a valuable opportunity for us to improve our product as well as better our service capabilities.