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An eWallet service and a shopping cart interface / payment processing service.
BIPS was a Payment Service Provider (PSP) specializing in the technical aspects of accepting cryptocurrencies - such as bitcoin.


The service allows users to deposit bitcoins directly into their online account, cold store bitcoins, and pay others from the balance held in the online eWallet.
==Bitcoin Payment Solutions==


BIPS provides free eWallet and merchant solutions, only charging for currency conversion and premium tools.
Provided services for merchants in 204 countries.
 
==Merchant Tools==
For merchants using an eCommerce platform, choose between a wide range of bitcoin plugins. For merchants without an eCommerce solution, BIPS offered Hosted Invoices. Hosted Invoices could be used for both catalogue of items and a shopping cart with buttons and widgets per item. Also Hosted Invoices supported recurring billing in bitcoin, by emailing invoice links or using BIP70 Payment Requests.
 
===Point of Sale===
BIPS delivered near field communication (NFC) to "make secure payments fast and convenient by simply tapping the phone on any BIPS-enabled point of sale at checkout. And the possibility of sending payment information via sound based on Chirp".
 
BIPS POS NFC could be used with the following devices:
 
Phones
 
    HTC One on Sprint
    HTC One SV on Boost Mobile
    HTC EVO 4G LTE on Sprint
    LG Viper 4G LTE on Sprint
    LG Viper 4G LTE on Zact Mobile
    LG Optimus Elite on Sprint
    LG Optimus Elite on Virgin Mobile
    LG Optimus Elite on Zact Mobile
    LG Nexus 4*
    LG Nexus 5*
    Motorola Moto X*
    Samsung Galaxy Note II on Sprint
    Samsung Galaxy Note II on US Cellular
    Samsung Galaxy SIII on Sprint
    Samsung Galaxy SIII on MetroPCS
    Samsung Galaxy SIII on US Cellular
    Samsung Galaxy SIII on Virgin Mobile
    Samsung Galaxy SIII on Boost Mobile
    Samsung Galaxy S4 on Sprint (model number must be SPH-L720)
    Samsung Galaxy S4 on US Cellular
    Samsung Galaxy S4 Google Play Edition*
    Samsung Nexus S 4G on Sprint
    Samsung Galaxy Nexus on Sprint
    Samsung Galaxy Nexus*
    Samsung Galaxy Victory 4G LTE on Sprint
    Samsung Galaxy Victory 4G LTE on Virgin Mobile
    Samsung Galaxy Axiom on US Cellular
 
Tablets
 
    Asus Nexus 7
    Samsung Nexus 10
 
===Former business model===
 
BIPS didn't charge merchants for accepting Bitcoin online or with the point of sale as payment for merchandise, but ran a 0% Payment Processing Fees, and planned to make money by the conversion spread.
 
===Settlement===
 
Exchanged bitcoins were sent to the customer's bank account in 1-5 business days. With the possibility of setting a % to be transferred, or simply keeping bitcoin.
 
Motto: sell for $100, see $100 deposited into your bank*
 
 
==Consumer Side==


===Buy Bitcoins===
===Buy Bitcoins===


Buy bitcoin from any country in the world.
BIPS provided a now defunct market to buy Bitcoins from any country in the world.


===Sell Bitcoins===
===Sell Bitcoins===


Receive payouts to bank in local currency to 42 countries.
You could receive payouts to banks in any currency in any country.


===History===
==History==


The service first launched in March, 2013. While a service known as [[WalletBit]] launched in Juli 2011, BIPS is based on all the knowledge gained developing and running [[WalletBit]].
With experience in Bitcoin since 2010, BIPS was founded in July 2011.


==External Links==
In 2013, the company lost 1,295 bitcoins (then worth around US$1 Million) in an online theft <ref name="Dead" />
* [[File:BIPS.gif|20px|link=https://bips.me]] [https://bips.me BIPS] website
* [[File:BIPS.gif|20px|link=https://bips.me/connect/BitcoinInternetPaymentSystemAPI.pdf]] [https://bips.me/connect/BitcoinInternetPaymentSystemAPI.pdf BIPS REST API]
* [[File:BIPS.gif|20px|link=https://bips.me/connect/Quickstart.pdf]] [https://bips.me/connect/Quickstart.pdf BIPS Quickstart]
* [[File:BIPS.gif|20px|link=https://bips.me/shopmodules]] [https://bips.me/shopmodules BIPS Shop Modules]


After the heist company did not provide any refunds and never recovered.


[[File:BIPS.png|1266px|link=https://bips.me]]
==See Also==
* [[Bitcoin Ladder]]


==References==
==References==
<references />
<references>
<ref name="Dead">[http://mashable.com/2013/11/25/cyberattack-leads-to-heist-of-1-million-in-bitcoin/ Lorenzo Franceschi-Bicchierai (November 25, 2013). "Cyberattack Leads to $1 Million Bitcoin Heist". Mashable.]</ref>
</references>


[[Category:Defunct exchanges‏‎]]
[[Category:Clients‏‎]]
[[Category:Clients‏‎]]
[[Category:ECommerce‏‎]]
[[Category:ECommerce‏‎]]
[[Category:EWallets‏‎]]
[[Category:EWallets‏‎]]
[[Category:Economics‏‎]]
[[Category:Economics‏‎]]
[[Category:Exchanges‏‎]]
[[Category:Financial‏‎]]
[[Category:Financial‏‎]]
[[Category:Shopping Cart Interfaces]]
[[Category:Shopping Cart Interfaces]]
[[Category:Payment Processors]]
[[Category:Payment Processors]]
[[Category:Bitcoin payment systems]]
[[Category:Bitcoin payment systems]]

Latest revision as of 09:11, 26 September 2022

BIPS was a Payment Service Provider (PSP) specializing in the technical aspects of accepting cryptocurrencies - such as bitcoin.

Bitcoin Payment Solutions

Provided services for merchants in 204 countries.

Merchant Tools

For merchants using an eCommerce platform, choose between a wide range of bitcoin plugins. For merchants without an eCommerce solution, BIPS offered Hosted Invoices. Hosted Invoices could be used for both catalogue of items and a shopping cart with buttons and widgets per item. Also Hosted Invoices supported recurring billing in bitcoin, by emailing invoice links or using BIP70 Payment Requests.

Point of Sale

BIPS delivered near field communication (NFC) to "make secure payments fast and convenient by simply tapping the phone on any BIPS-enabled point of sale at checkout. And the possibility of sending payment information via sound based on Chirp".

BIPS POS NFC could be used with the following devices:

Phones 

   HTC One on Sprint
   HTC One SV on Boost Mobile
   HTC EVO 4G LTE on Sprint
   LG Viper 4G LTE on Sprint
   LG Viper 4G LTE on Zact Mobile
   LG Optimus Elite on Sprint
   LG Optimus Elite on Virgin Mobile
   LG Optimus Elite on Zact Mobile
   LG Nexus 4*
   LG Nexus 5*
   Motorola Moto X*
   Samsung Galaxy Note II on Sprint
   Samsung Galaxy Note II on US Cellular
   Samsung Galaxy SIII on Sprint
   Samsung Galaxy SIII on MetroPCS
   Samsung Galaxy SIII on US Cellular
   Samsung Galaxy SIII on Virgin Mobile
   Samsung Galaxy SIII on Boost Mobile
   Samsung Galaxy S4 on Sprint (model number must be SPH-L720)
   Samsung Galaxy S4 on US Cellular
   Samsung Galaxy S4 Google Play Edition*
   Samsung Nexus S 4G on Sprint
   Samsung Galaxy Nexus on Sprint
   Samsung Galaxy Nexus*
   Samsung Galaxy Victory 4G LTE on Sprint
   Samsung Galaxy Victory 4G LTE on Virgin Mobile
   Samsung Galaxy Axiom on US Cellular

Tablets 

   Asus Nexus 7
   Samsung Nexus 10

Former business model

BIPS didn't charge merchants for accepting Bitcoin online or with the point of sale as payment for merchandise, but ran a 0% Payment Processing Fees, and planned to make money by the conversion spread.

Settlement

Exchanged bitcoins were sent to the customer's bank account in 1-5 business days. With the possibility of setting a % to be transferred, or simply keeping bitcoin.

Motto: sell for $100, see $100 deposited into your bank*


Consumer Side

Buy Bitcoins

BIPS provided a now defunct market to buy Bitcoins from any country in the world.

Sell Bitcoins

You could receive payouts to banks in any currency in any country.

History

With experience in Bitcoin since 2010, BIPS was founded in July 2011.

In 2013, the company lost 1,295 bitcoins (then worth around US$1 Million) in an online theft [1]

After the heist company did not provide any refunds and never recovered.

See Also

References

  1. ↑ Lorenzo Franceschi-Bicchierai (November 25, 2013). "Cyberattack Leads to $1 Million Bitcoin Heist". Mashable.
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