BIPS: Difference between revisions
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==Merchant Tools== | ==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 shopping cart with buttons and widgets per item. Also Hosted Invoices supported recurring billing in bitcoin, by emailing invoice | 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=== | ===Point of Sale=== | ||
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===Former business model=== | ===Former business model=== | ||
BIPS didn't charge merchants for accepting Bitcoin online or with point of sale as payment for merchandise, but ran a 0% Payment Processing Fees, and planned to make money by the conversion spread. | 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=== | ===Settlement=== | ||
Exchanged bitcoins were sent to customer's bank account in 1-5 business days. With the possibility of setting a % to be transferred, or simply keeping bitcoin. | 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* | Motto: sell for $100, see $100 deposited into your bank* | ||
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===Sell Bitcoins=== | ===Sell Bitcoins=== | ||
You could receive payouts to | You could receive payouts to banks in any currency in any country. | ||
==History== | ==History== | ||
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==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> | <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> | </references> | ||
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.