Inc, the world’s leading payment processor for bitcoin, announces that
it has processed over $2 million during the first 25 days in March. The
pace of transactions is accelerating with over 3,600 completed
transactions this month. This transaction processing volume through
BitPay represents bitcoins being used for the purchase of goods and
services around the world.
As a result of BitPay reaching this milestone, the company also
announces that it has lowered its processing fees for all merchants to
0.99%, including settlement in any local currency that BitPay supports.
This means that a merchant can accept payment over the bitcoin
peer-to-peer payment network, and either keep the bitcoins or receive
their local currency such as dollars or euros. Settlements to local
currencies are made with a guaranteed exchange rate locked at the point
of sale for no additional fee.
“We chose to celebrate this milestone by rewarding all merchants, large
and small, with an across-the-board fee reduction, instead of offering
tiered pricing which rewards only the largest merchants,” says Tony
Gallippi, co-founder and CEO of BitPay. “We want our merchants to use
this fee reduction to offer discounts and incentives to their customers
for paying with bitcoin.”
A great example of this incentive is BitcoinStore.com
which sells over 500,000 consumer electronic devices online.
BitcoinStore.com is able to sell items for 1%-5% below its competitors
because of the savings they realize by accepting bitcoin instead of
accepting credit cards.
BitPay currently has over 4,000 merchants using its platform to accept
payments over the peer-to-peer payment network, and BitPay is acquiring
new merchants at a rate of 1,000 new merchants per month. Businesses
everywhere are starting to understand the value proposition that bitcoin
and BitPay can bring to their business.
BitPay also recently announced
that they have integrated their payment platform with Amazon’s
fulfillment services, enabling merchants to combine frictionless
international payments with frictionless international shipping in a
BitPay has completed its move to Atlanta and has opened their
headquarters in Atlanta
Tech Village, a new startup space in Buckhead, Atlanta’s Financial
BitPay is a Payment Service Provider (PSP) specializing in eCommerce,
B2B, and enterprise solutions for virtual currencies. Visit https://bitpay.com.