“But in other regions, each country has its own local option.” “In America, we really only have credit cards and PayPal, and now Bitcoin - that’s it,” Singh said. But now, companies can implement BitPay, and it eliminates the need to use processors from every part of the world. Traditionally, if a company in America, for example, wanted to accept international credit card payments, the company would need to secure a payment processor for every other country or region of the world it wants to accept payments from, Singh said. Singh said that, for most companies, making payments across national borders has not been a simple process. So, no matter where you are in the world, Bitcoin works universally, which is great.” “Anyone in the world can get Bitcoin, and that same Bitcoin you can get in India is the same Bitcoin that a merchant in America would accept. “Bitcoin is truly a global, digital currency,” Singh said. Over the years, BitPay has expanded its service offerings from payment processing to include features like the BitPay secure Bitcoin wallet and the BitPay Card, which allows users to easily convert Bitcoin to dollars to spend anywhere Visa is accepted.īitPay processed $1.2 billion on Bitcoin payments in 2017, said Sonny Singh, BitPay’s Chief Commercial Officer.īitPay continues to make Bitcoin payments easier in new ways, most recently adding the ability to make payments across national borders for B2C and B2B companies in a quick and easy manner.Ĭustomers who implement BitPay’s cross-border features will be able to send and receive “international payments with BitPay and get 100% accuracy, zero fraud risk, and quick bank settlement,” according to the BitPay website. According to the website, BitPay is, “currently the largest Bitcoin payment processor in the world, serving industry-leading merchants on six continents.” And some just want to be part of what they see as the latest trend.įor a company like BitPay, the number of times Bitcoin pops up in the news doesn’t matter because either way, it will continue to work on making Bitcoin transactions easier for businesses and consumers alike.įounded in 2011, BitPay’s inspiration was simply to make payments using Bitcoin as easy as possible. Others are drawn to the potential anonymity in using cryptocurrency. For some, Bitcoin is appealing as a decentralized global currency with lower transaction fees. īitcoin has led the popular charge for cryptocurrencies in recent years, frequently grabbing headlines as more and more people become familiar with this relatively new form of currency. BitPay offers all these advantages with no upfront costs. B2C merchants also gain the potential to reach untapped markets, while B2B companies can get paid quicker and avoid transaction fees associated with bank wires. With its latest expansion, BitPay enters the realm of cross-border payments, which gives businesses the opportunity to do away with multiple payment processors across different countries. In a Nutshell: BitPay has been making Bitcoin transactions accessible since the cryptocurrency’s early days, and has grown in recent years to include services like its Bitcoin Wallet and its BitPay Card.
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