Verotel, the internet payment service provider for high-risk merchants, has announced that it has started to accept bitcoin payments with BitPay, a processor for virtual currencies. Verotel is a registered Payment Institute for high-risk merchants, including adult entertainment webmasters.
“The anonymous nature of bitcoin makes a lot of business sense,” states Jason Collins, VP Business Development at Verotel. “No credit card needed to access adult content online is a no-brainer. There is no credit card statement and there are no disputed charges by the spouse of the cardholder, which is ideal world for any adult entertainment consumer.”
The content of the adult merchants that wish to add bitcoin to their payment methods is screened in the very same way as under the credit card brand protection programs. That means that Verotel will only accept merchants to accept bitcoin under the same strict content regulations to avoid fraud and illegal content.
The bitcoin payment method with Verotel is under Beta launch and is currently only available for a small selection of merchants before it rolls-out to the whole Verotel merchant portfolio in March 2014.
“We believe that BitPay’s order volume will increase significantly with this new partnership,” said Tony Gallippi, BitPay Co-founder and CEO. “We are proud to share our powerful, reliable, and scalable tools to accept bitcoin with the high risk industry.”
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