Paymium has launched a new merchant solution, that allows European merchants to accept bitcoin as an online payment method, the company has announced.
To opt in, merchants need to use Paymium’s API or plugins and prices are displayed in Euros to avoid bitcoin’s high price volatility. Customers pay in bitcoin at the current exchange rate, but these are instantly converted into Euros. This, says Paymium, means that bitcoin is actually more stable than many other currencies when it comes to FX risk. It also means that companies can have a global reach from the outset, taking payments from anywhere in the world.
Fees for bitcoin transaction will be set at 0.0001 bitcoin, which, at the current exchange rate, is equivalent to 0.05 Euros – although there will be an small extra fee for converting into Euro, the company says. however, to entice new customers, Paymium will be free until the end of 2014. This means, they say, that if you receive a 100 Euro payment, the full 100 Euros will reach your bank account. Afterwards, merchants will pay a subscription fee of EUR 19,90 per month.
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