Why you should use this new payment platform, for now at least
TechRadars editors and staff:We’ve already written about the potential benefits of using a new payment system for business-to-business transactions.
And with the recent announcement that the payment processing platform, Bitpay, will launch in the UK and Ireland in 2018, it’s only right that we look at what the company’s latest offering offers.
The platform is a collaboration platform, which means it allows customers to share information between businesses and their customers.
And while it may sound a bit too good to be true, it may actually be the future of payments.
What is the Bitpay payment system?
Bitpay is a payment processor that allows customers, for example, to buy products and services using their own personal funds.
The service is now available to businesses in all 50 states and will be available to consumers in the first quarter of 2019.
For businesses, it means they can integrate their own payments system into their existing business, as opposed to building one from the ground up.
They can create a “bitpay-plus” account, which allows for a one-time payment of up to £3,000.
For consumers, it also means that they can pay for goods and services with their own money without needing to go through a third party.
As the company explains, BitPay is based on a “comprehensive, integrated payment system that works across all major payment networks, including PayPal, Stripe, Paypal, Apple Pay, and more”.
It’s also compatible with Apple Pay and the Android Pay platform, as well as the recently announced Android Pay for the web.
It’s worth noting that, as a payment platform that has a strong history of growth, BitPays reputation has also been strong, so it could be a good option for businesses looking to scale their payment systems.
But the big question is how to make use of Bitpay’s new system.
In an interview with CoinDesk, Bitpays chief marketing officer, Daniel Boulton, told the publication that the company had to get its system up and running quickly.
He said:”The process of integrating Bitpay into our business was a long one, but the new payment features enable us to get Bitpay working for our clients as quickly as possible.
The team at Bitpay has spent the last three months on a detailed test plan, which we’re now putting in place for our customers to get their payments on.”
As the platform has only just launched, it is still a little early to judge how well it will work for businesses and consumers.
However, Boulson confirmed that it has already seen a positive response from customers and suggested that the platform could be used by businesses with small to medium sized businesses, such as hotels, restaurants, bars and shops.
He also indicated that there were still some challenges to overcome.
For example, while the BitPay payment system is compatible with all major payments networks, it requires businesses to have a separate credit card and bank account.
As Boulons point out, this means that it is not a solution for everyone, but it is a significant change for businesses that are looking to grow their business.
So, if you’re looking to buy some groceries, you could use BitPay instead of using your credit card to pay for them.
But if you need to pay someone at a coffee shop or a restaurant, you will need to use Bitpay.
If you are looking for a new way to pay your bills, you can use BitPas new payment solution.
However for businesses with larger businesses that will need a separate payment account, you may want to stick with PayPal.
It will be interesting to see how Bitpay is received in the short term, but if its successful for businesses it will be an interesting launch for the company.
For more news on cryptocurrencies, watch:What are your thoughts on BitPay’s launch?
Let us know in the comments below.
Images via Bitpay