BIPS

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 shopping cart with buttons and widgets per item. Also Hosted Invoices supported recurring billing in bitcoin, by emailing invoice link 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 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 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 bank in any currency to any countries.

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

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

See Also

• Bitcoin Ladder