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| Bit-pay is an automated payment processing system for the bitcoin currency. It enables online merchants to accept bitcoins, as a form of payment, just as easily they accept payments from credit cards, debit cards, or Paypal. <ref name="bit-pay_FAQ" /> For the similarly-named mobile wallet application, see [[BitPay]].
| | #REDIRECT [[BitPay]] |
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| ==Merchant Tools==
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| For merchants that already have a shopping cart, bit-pay's Hosted Checkout can allow shoppers to pay for their order using bitcoins.
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| For merchants that only have a catalog of items, bit-pay can provide buttons and widgets for merchants to place by their items, which will add them to a shopping cart at bit-pay.
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| ==Transactions==
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| When an invoice is presented for the customer to use when paying, the Bitcoin address to pay is shown. A QR Code of that address is also shown, allowing easy payment from a mobile. The invoice also include a button for using the [[URI Scheme|URI]] payment method which will allow easy payment from a bitcoin client that supports URI links.
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| The message "This invoice is valid for 15:00 minutes ONLY" is displayed and a timer counts down the clock. The reason this timer exists is to protect Bit-pay from exchange rate moves -- the price quoted is only valid for fifteen minutes.
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| If payment arrives after the timer has expired, an additional payment amount may be required to cover the difference in the exchange rate from the original quote.
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| ==Fees==
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| The automated solution and shopping cart is available for all merchants for a fee of 0.99% of the value of the sale.
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| If the merchant wants to receive a currency other than bitcoins, (e.g. US Dollars) bit-pay can trade the coins for dollars, and send a direct deposit to the merchant's bank account. Merchants have no currency risk of bitcoins at all. The fee for this service is 2.99% of the value of the sale.
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| ==Settlement==
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| Sales proceeds may be withdrawn as bitcoins, as a bank transfer, or split among more than one method. For example, 20% of proceeds might be withdrawn as BTCs and the rest converted and sent as a bank transfer.
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| Withdrawals as direct deposit are available for the following<ref>[http://bitcointalk.org/index.php?topic=69425.0 Bit-Pay expands Direct Deposit to CANADA and MEXICO, lower fees for USA]</ref>:
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| - U.S. (USD)
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| - Canada (CAD)
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| - Mexico (MXN)
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| - Germany (EUR)
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| - France (EUR)
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| - Italy (EUR)
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| - Spain (EUR)
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| - Netherlands (EUR)
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| - Everywhere - bitcoins (BTC)
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| ==History==
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| The service first launched (beta) in July, 2011<ref>[http://bitcointalk.org/index.php?topic=32467.msg405469#msg405469 Bit-Pay.com / Super Boost for Bitcoin Economy]</ref>. The invoice API was launched on August 18, 2011<ref>[http://bitcointalk.org/index.php?topic=37634.0 Bit-pay payment API now available!]</ref>.
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| ==See Also==
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| ==External Links==
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| * [https://bit-pay.com/ bit-pay] web site
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| ==References==
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| <references>
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| <ref name="bit-pay_FAQ">[https://bit-pay.com/faq.html bit-pay FAQ]</ref>
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| </references>
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| [[Category:Shopping Cart Interfaces]]
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