Bitcoin payment application launched across 18 countries

Circle Plus Payments have created a brand new application that allows merchants in 18 countries to accept credit card and bitcoin payments via their smartphones.

The application will be launched in Australia, North America and countries within Europe. Available on iOS and Android, Payable makes it easier for small and medium sized business owners to accept bitcoin instantly without extra hardware and without the need for merchant accounts and their associated fees.

Circle Plus is a payment technology start-up based in California. Only a year old, the firm have previously developed software which enables smartphone users to scan their credit and debit cards in order to make and accept digital payments.

‘‘There are more and more ways to pay, whether that’s bitcoin or a credit card, and our goal was to make sure any merchant could accept any sale almost anywhere in the world,’’ said Nitish Kannan, CEO of Circle Plus Payments.

Previously, in order for most merchants to accept credit cards or bitcoin they required lengthy merchant accounts, had to purchase expensive EMV terminals to comply with chip and pin regulations and often needed to sign lengthy and expensive contracts. The Payable app has instant sign up, any individual or merchant with a bank account can usually start accepting payments right away.

This application signals another victory for the cryptocurrency. Last week, Payment Eye reported that the New York Stock Exchange launched the inaugural bitcoin index.

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