Does this work with MtGox?

Currently not as payment can only be received into your own personal Electrum wallet (recommended) or if you have accounts with blockchain.info (not recommended).

Gleb

Thanks for answer Gleb.

May be a noob question – but can Electrum payment will be processed online as fast as mtgox/bitpay?

I am yet to fully understand how bitcoin works but I am eager to add it as a payment solution.

If you set number of confirmations to low number (0 or 1) – the bitcoin payment from your customer to your Electrum will arrive pretty quick.
Although there is a risk of double spending for low confirmation number.
If customer will add a tiny transaction fee (say BTC 0.0005) – the payment and confirmations will happen even faster.

Gleb

Rather than customer, can we bear transaction fee?

PayPal anyway charges around 3% plus its not available for buyers in many countries.

No. In bitcoin world, sender, only if he wants to, has to pay optional transaction fee.
That’s bitcoin protocol.
The only thing you can do (and it might work well) is to invite customer to add recommended transaction fee to the purchase price for speedier payment processing. And add the promise to refund this fee back to the customer once the order is placed.

@gesman

Thanks again for detailed answer.

The only thing you can do (and it might work well) is to invite customer to add recommended transaction fee to the purchase price for speedier payment processing. And add the promise to refund this fee back to the customer once the order is placed.

Is there something like this already provided in plugin?

Hi there,

I use a new plugin that is only for mt gox, (mtgox)

It works very well, accepts the payments directly into my MT Gox account, and releases the digital software when MT Gox approves the funds in moments. It also has an incentive % offset, I offer bitcoin payers 20% off. The plugin calculates the new price, and charges them that only.

Here is the link to the MTGox Woocommerce plugin:

MTGox Woocommerce plugin

https://www.craigslistsoftware.me/payments/product/mt-gox-woocommerce?