28 May 2017
Find out more

BitPay processes over $2 million in Bitcoin transactions for March

25 March 2013  |  4392 views  |  0 Source: BitPay

BitPay 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 fully-automated system.

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 District.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comvisit vasco.com/news/PSD2-compliant-solutionsVisit www.capgemini.com/worldreports

Top topics

Most viewed Most shared
BBVA launches Open API marketplaceBBVA launches Open API marketplace
13911 views comments | 53 tweets | 81 linkedin
Bank/fintech collaboration can take transaction banking to new heightsBank/fintech collaboration can take transa...
7991 views comments | 12 tweets | 24 linkedin
R3 raises $107mR3 raises $107m
7446 views comments | 16 tweets | 16 linkedin
TransferWise launches multi-currency business bank accountsTransferWise launches multi-currency busin...
7251 views comments | 12 tweets | 21 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job