Bitcoin

Bitcoin Daily: BitPay Allows All Bitcoin Wallets For Transaction; Telangana To Create Blockchain Incubator 

BitPay Allows All Bitcoin Wallets For Transaction; Telangana To Create Blockchain Incubator

BitPay, a leading Bitcoin and cryptocurrency payment service, said that it will soon allow invoices to be paid from any Bitcoin wallet or crypto exchange, according to a report Tuesday (Feb. 5) by Cointelegraph

BitPay CEO Stephen Pair said the decision to allow payments was driven by feedback from merchants and a desire for more control from the company’s active users.

“BitPay’s customers want to support all the Bitcoin wallets, just like they want to support all cryptocurrencies for payments. The company has decided to re-enable support for all wallets, which is referred to as plain vanilla peer-to-peer transactions,” Pair said in published reports.

Pair said the company is doing a phased rollout, and that the merchants themselves will be able to pick which wallets they want to accept. Merchants will also be able to perform peer-to-peer transactions as well, without any new tech to implement or figure out.

“We are going to automate the whole process for merchants since we already have experience doing this already. It’s very important for merchants to support all Bitcoin wallets, as this will greatly expand their potential to grow sales and acquire new customers,” Pair said about the news.

In other crypto news, the government of Telangana, a state in southern India, is going to set up a dedicated incubator from startups working with Blockchain, in partnership with IIIT-Hyderabad and the Indian School of Business, according to a report Tuesday by the Times of India.

“We have developed 12 use-cases wherein Blockchain technology can be used to solve some of the issues faced by citizens … in the coming days we are coming up (with) multiple initiatives, such as setting up (the) incubator,” said Rama Devi, the officer on special duty at the ITE&C department. 

The accelerator is called the T-Block, and it will help the startups to scale their operations. The registrations to join the T-Block began on Monday (Feb. 3).

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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