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BitPay

Bitpay is the leading payment service provider (PSP) specializing in the peer-to-peer virtual currency Bitcoin which provides for instantaneous transactions from anywhere in the world with no risk of fraud or chargebacks.

Using Bitpay enables merchants to easily accept bitcoins for payment just like with Visa, Mastercard, Paypal or cash. Merchants can choose what percentage of revenues are kept in bitcoins or converted to a fiat currency and direct deposited daily into their bank account. Bitpay only charges a flat 0.99% fee to process and convert payments, which is significantly cheaper than most credit cards, and makes it much easier for businesses to accept Bitcoins and properly account for tax purposes.

Accepting Bitcoins for payments and having Bitpay process the transactions differs from credit or debit cards in several major ways. For example, (1) Bitcoins are instantaneous and irreversible so there can be no chargebacks without the merchant’s consent, (2) payments can be made anywhere there is an Internet connection so there are no geographic limits imposed on where payments can be accepted from any, (3) there is no personal information included with the payment so there is neither risk of identity theft for customers nor PCI compliance costs for merchants and (4) fees are significantly lower than credit cards.

Recent Milestones

  • Check
    BitPay — BitPay said its 10,000+ merchant network spans 164 countries. When it comes to transaction volume, thus far in 2013, more than $34 million worth of Bitcoins have been spent on goods and services through merchants using BitPay’s platform. August was anothe (9/16/13)
    Posted 10/7/13 at 9:34pm via techcrunch.com
  • Dollar
    BitPay received $2M in Seed funding. (5/16/13)
    Posted 5/16/13 at 7:25pm via techcrunch.com
  • Check
    BitPay — A new record high transaction volume of $5.2 million for the month of March and 4,500 merchants. (4/2/13)
    Posted 4/7/13 at 11:23am via bitcoinmagazine.com
  • Check
    BitPay — BitPay Expands Seed Round with VC Investors (3/4/13)
    Posted 3/4/13 at 7:48pm via freshnews.com
  • Dollar
    BitPay received $510k in Seed funding. (1/7/13)
    Posted 1/7/13 at 6:29pm via techcrunch.com
  • Check
    BitPay — BitPay's 1,000th merchant is a new startup site called the BitcoinStore.com, opening very soon, which sells over 500,000 consumer electronics items. (9/11/12)
    Posted 4/7/13 at 11:18am via bitpay.com
  • Check
    BitPay added Anthony Gallippi as Co-Founder & CEO.
    Posted 3/30/13 at 1:58pm
  • Check
    BitPay added Stephen Pair as Co-Founder & CTO.
    Posted 3/30/13 at 1:58pm

Videos

Above:

What is Bitpay?

Added: 4/14/13
Above:

Bitpay product demonstration on FOX Business.

Added: 4/15/13
Above:

Buy Cupcakes with Bitcoin!

Added: 4/15/13
Above:

What is Bitcoin?

Added: 4/15/13
Above:

In-depth interview at LeWeb London 2013

Added: 6/7/13
Above:

Forbes interviews Tony Gallippi

Added: 7/9/13

Screenshots

BitPay screenshot
Above: BitPay Screenshot -- #1
Uploaded: 1/7/13

Sources

  1. BitPay Banks $510K In Investment To Become PayPal for Bitcoin, Already Has 2,100 Businesses On Board (techcrunch.com) [edit]
  2. ecommerce Comment 8 With PayPal-Like Ambitions For Bitcoin, BitPay Raises $2M Led By Founders Fund (techcrunch.com) [edit]
  3. BitPay Expands Seed Round with VC Investors (freshnews.com) [edit]
    BitPay Exceeds 1,000 Merchants Accepting Bitcoin (blog.bitpay.com) [edit]
    BitPay Processes $5.2 Million in March, Eclipses Silk Road (bitcoinmagazine.com) [edit]
    BitPay Passes 10,000 Bitcoin-Accepting Merchants and $34m Processed (techcrunch.com) [edit]
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Last Edited 3/26/14

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