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BitPay, a bitcoin payment processor, was founded in 2011 and is headquartered in Atlanta, Georgia. Regulated in the USA, the company allows businesses to accept bitcoin payments and receive settlement in their local currency, without the risk of bitcoin price volatility and without the need for bitcoin expertise. Since 2016, the company also offers Bitpay Visa prepaid debit cards for Bitcoin users, facilitating everyday life payments with the cryptocurrency.
The world's most popular and valuable digital currency, Bitcoin has been growing rapidly in popularity in recent years as a payment method for everything from digital goods to ecommerce purchases to account top-ups. Bitcoin is used by millions of people worldwide, and since Bitcoin is the currency of the internet, it has no country by country limitations. It can be sent and received across borders in minutes.
By accepting bitcoin through BitPay, merchants gain access to a payment network and a new customer base of Bitcoin users as global as the internet – without the fees, cross-border integration costs, and fraud risks of traditional online payment methods.
Sending a bitcoin payment is as simple as scanning a QR code. Customers can pay BitPay's bitcoin payment invoices in a few clicks and a scan from any bitcoin wallet on their mobile phones, tablets, or desktop computers.
In order to facilitate the integration process, Bitpay offers merchants various possibilities. Integrated solutions, Shopify for example, need no further development and can be directly connected to a Bitpay account. The company also develops and maintains plugins with many open-source e-commerce solutions, including Ecwid, PrestaShop and Magento. Point-of-sale solutions are also available, notably through partnership with Ingenico and NCR Silver.
- Direct bank deposits for all bitcoin processed via BitPay.
- Guarantee for the full value of bitcoin payments received, with zero bitcoin price volatility risk.
- Secure, rapid payments for your customers, with no risk of identity theft and no additional PII/PCI compliance costs.
The open-source e-commerce software Magento, first released in 2008, is one of the most widely used shopping cart software and content management system. Online merchants fully control the design, content and functionality of their store. Additionally, Magento offers marketing, search engine optimization and catalog-management tools. How much setting up a Magento store will cost you? A basic shop cost between a couple thousand to tens of thousands of US dollars while a more complete version can exceed the hundreds of thousands of US dollars.
Bitpay is active in various verticals worldwide, with the exclusion of countries where bitcoins are banned and countries to which the American government is currently imposing economy sanctions. It is notably working in a partnership with merchants such as Microsoft, NewEgg, TigerDirect or Warner Bros. Records.