BitPay: Difference between revisions
Branding - name changed to BitPay. |
:As of June 2020 BTCPay is considered a great open source alternative to using BitPay. |
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{{infobox company|name=BitPay, Inc.|image=[[File:BitPay.png|256px]] | |||
|location=Atlanta, GA, United States<br>Argentina<br>Netherlands | |||
|industry=[[:Category:Payment Processors | Payment Processor]] | |||
|foundation=May, 2011 | |||
|founder=[[Stephen Pair]], [[Antonio Gallippi]] | |||
|employees=80+ | |||
|twitter=bitpay | |||
|facebook=BitPayOfficial | |||
|website=https://bitpay.com/ | |||
}} | |||
'''BitPay''' 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="bitpay_FAQ" /> For the similarly-named mobile wallet application, see [[BitPay for Android]]. | |||
:As of June 2020 [[BTCPay]] is considered a great open source alternative to using BitPay. | |||
==Merchant Tools== | ==Merchant Tools== | ||
For merchants that already have a shopping cart, | For merchants that already have a shopping cart, BitPay's Hosted Checkout can allow shoppers to pay for their order using bitcoins. | ||
For merchants that only have a catalog of items, | For merchants that only have a catalog of items, BitPay can provide buttons and widgets for merchants to place by their items, which will add them to a shopping cart at BitPay. | ||
==Transactions== | ==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. | 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. | ||
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 | 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 BitPay from exchange rate moves -- the price quoted is only valid for fifteen minutes. | ||
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. | 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== | ==Fees== | ||
The automated solution and shopping cart is available for all merchants for a fee of 0.99% of the value of the sale. | The automated solution and shopping cart is available for all merchants for a fee of 0.99% of the value of the sale. | ||
If the merchant wants to receive a currency other than bitcoins, (e.g. US Dollars) | If the merchant wants to receive a currency other than bitcoins, (e.g. US Dollars) BitPay can trade the coins for dollars, and send a direct deposit to the merchant's bank account. Merchants can have no currency risk of bitcoins at all. | ||
==Settlement== | ==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. | 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. | ||
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>: | 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>, <ref>[http://blog.bitpay.com/2013/01/bitpay-adds-google-authenticator-seven.html BitPay adds Google Authenticator, Seven new countries for direct deposit]</ref>. | ||
* Australia (AUD) | |||
* Belgium (EUR) | |||
* Canada (CAD) | |||
* Denmark (DKK) | |||
* France (EUR) | |||
* Germany (EUR) | |||
* Italy (EUR) | |||
* Mexico (MXN) | |||
* Netherlands (EUR) | |||
* New Zealand (NZD) | |||
* Norway (EUR) | |||
* Spain (EUR) | |||
* South Africa (SAR) | |||
* Sweden (SEK) | |||
* United Kingdom/UK (GBP) | |||
* U.S. (USD) | |||
==History== | ==History== | ||
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>. | 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>. | ||
On June 28, 2012 BitPay publicly announced its bulk sales offer where cash purchases of bitcoins offering to sell in amounts of $10,000 USD and up<ref>[http://bitcointalk.org/index.php?topic=89757.msg996082#msg996082 Buy your BFL bitcoins back from BitPay]</ref>. | |||
On August 21, 2012 the organization's brand changed from Bit-Pay to BitPay.com<ref>[http://bitcointalk.org/index.php?topic=102140.0 Bit-Pay is now officially BitPay.com - New website, new features]</ref>. | |||
==See Also== | ==See Also== | ||
* [[Bitcoin Ladder]] | |||
==External Links== | ==External Links== | ||
* [https:// | * [https://BitPay.com/ BitPay] web site | ||
==References== | ==References== | ||
<references> | <references> | ||
<ref name=" | <ref name="bitpay_FAQ">[https://BitPay.com/faq.html BitPay FAQ]</ref> | ||
</references> | </references> | ||
[[Category:Shopping Cart Interfaces]] | [[Category:Shopping Cart Interfaces]] | ||
[[Category:Payment Processors]] | |||
Latest revision as of 10:22, 7 June 2020
| Industry | Payment Processor |
| Founded | May, 2011 |
| Headquarters | Atlanta, GA, United States Argentina Netherlands |
| Founder(s) | Stephen Pair, Antonio Gallippi |
| Employees | 80+ |
| Website | https://bitpay.com/ |
BitPay 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. [1] For the similarly-named mobile wallet application, see BitPay for Android.
- As of June 2020 BTCPay is considered a great open source alternative to using BitPay.
Merchant Tools
For merchants that already have a shopping cart, BitPay's Hosted Checkout can allow shoppers to pay for their order using bitcoins. For merchants that only have a catalog of items, BitPay can provide buttons and widgets for merchants to place by their items, which will add them to a shopping cart at BitPay.
Transactions
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 payment method which will allow easy payment from a bitcoin client that supports URI links.
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 BitPay from exchange rate moves -- the price quoted is only valid for fifteen minutes.
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.
Fees
The automated solution and shopping cart is available for all merchants for a fee of 0.99% of the value of the sale. If the merchant wants to receive a currency other than bitcoins, (e.g. US Dollars) BitPay can trade the coins for dollars, and send a direct deposit to the merchant's bank account. Merchants can have no currency risk of bitcoins at all.
Settlement
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.
Withdrawals as direct deposit are available for the following[2], [3].
- Australia (AUD)
- Belgium (EUR)
- Canada (CAD)
- Denmark (DKK)
- France (EUR)
- Germany (EUR)
- Italy (EUR)
- Mexico (MXN)
- Netherlands (EUR)
- New Zealand (NZD)
- Norway (EUR)
- Spain (EUR)
- South Africa (SAR)
- Sweden (SEK)
- United Kingdom/UK (GBP)
- U.S. (USD)
History
The service first launched (beta) in July, 2011[4]. The invoice API was launched on August 18, 2011[5].
On June 28, 2012 BitPay publicly announced its bulk sales offer where cash purchases of bitcoins offering to sell in amounts of $10,000 USD and up[6].
On August 21, 2012 the organization's brand changed from Bit-Pay to BitPay.com[7].
See Also
External Links
- BitPay web site
References
- ↑ BitPay FAQ
- ↑ Bit-Pay expands Direct Deposit to CANADA and MEXICO, lower fees for USA
- ↑ BitPay adds Google Authenticator, Seven new countries for direct deposit
- ↑ Bit-Pay.com / Super Boost for Bitcoin Economy
- ↑ Bit-pay payment API now available!
- ↑ Buy your BFL bitcoins back from BitPay
- ↑ Bit-Pay is now officially BitPay.com - New website, new features