Global bitcoin payment processor BitPay has announced that it has processed over USD2m 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 Pp2 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.”
The bitcoin processor is acquiring new merchants at a rate of 1,000 new merchants per month. It 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.
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