Mainstream Businesses that Rely on US Dataworks for Receivables Processing Can Now Benefit by Accepting Bitcoin Payments without Changes to Their Existing Systems.
US Dataworks, a provider of payment processing solutions, announced the ability to accept bitcoin payments into its Integrated Receivables Platform. Through a partnership with Coinbase, US Dataworks clients can now accept bitcoin payments as part of a standard receivables processing workflow.
Accepting bitcoin payments as part of the Clearingworks solution offers key benefits:
- Simplify cross-border payments
- Reduce interchange fees
- Eliminate chargebacks and reduce online fraud
- Eliminate payment re-association for accounts receivable posting
- Demonstrate the power of the Integrated Receivables Platform
In addition, payments received in bitcoin are immediately converted to U.S. dollars via Coinbase, further simplifying any currency risk or need for hedging. With 1.7 million users and 37,000 merchants in 19 countries, Coinbase is the most popular bitcoin wallet and the easiest way to securely buy, use and accept bitcoin.
John Penrod, CEO of US Dataworks, commented, "We recognize that receivables processing is growing more complex as new electronic payment methods are adopted. Clearingworks removes this complexity by accepting all forms of payments and remittance information, including bitcoin. Coinbase offers the technological solution and partner approach that are essential to our success in bringing bitcoin to our traditional receivables processing clients."