Flow, a leader in next generation cross border commerce, today announced the expansion of its international payment options to support cryptocurrency payment processing through BitPay, the pioneer and most experienced company in bitcoin and blockchain payments.
BitPay, which securely processes cryptocurrencies such as Bitcoin and Bitcoin Cash, will join more than 60 different payment methods across 200 countries on Flow’s platform.
Flow is continuing to broaden the international payments available on its platform to accommodate local market preferences. While payment methods like Visa, Mastercard, and PayPal are popular in the U.S., alternative payment methods are growing globally and are critical to the success of cross border commerce. For example, in addition to welcoming cryptocurrency payments on its platform, Flow also supports UnionPay, Alipay and WeChat Pay, which represent 85% of retail transactions in the Chinese market.
“We are consistently innovating and adapting our technology platform to enable retailers to provide a seamless and secure localized shopping experience for their customers anywhere in the world,” said Rob Keve, Co-Founder and CEO of Flow. “BitPay represents a new era in payment technology. Its addition to our platform not only extends our footprint into emerging digital payments but empowers retailers and brands to dramatically increase conversions by offering shoppers around the world their preferred payment method.”
Flow’s comprehensive payments product provides retailers and brands full chargeback and fraud protection, complete configurability by country, the ability to test payment preferences and seamless integration into both existing web infrastructures and Flow-hosted checkout.
“As an addition to Flow’s platform, Bitcoin and Bitcoin Cash are ideal for international ecommerce payments making it easy to buy and sell goods from countries where traditional forms of payment are unavailable,” said Sonny Singh, Chief Commercial Officer at BitPay. “BitPay facilitates this process while also reducing the risk of chargebacks and fraud for a much lower cost than credit cards.”
Using BitPay, businesses receive fiat settlement directly to its bank account. There is no cryptocurrency price volatility or risk to the company. As a push transaction, the user sends the exact amount of Bitcoin or Bitcoin Cash needed to pay the bill. This eliminates traditional credit card fraud and identity theft risks associated with credit cards. BitPay enables transactions from any computer or mobile device making it convenient for customers around the world.