On September 16, crypto payment service provider BitPay announced via a press release the newest addition to its crypto wallet. Companies and merchants that rely on BitPay for processing their payments are now allowed to accept Ether (ETH) as payment for purchases.
As per the announcement, Bitpay users can also use the wallet to store ETH. Furthermore, users with Prepaid Visa Card can also use the token to build up their debit cards. These new features are accessible without the need of setting up additional enhancements.
BitPay now have BTC, BCH, and Ether
Launched by Stephen Pair and Tony Gallippi in 2011, BitPay is a payment processing service provider that supports Bitcoin (BTC) and Bitcoin Cash (BCH). It works by converting a multitude of fiat currencies to digital currencies and vice versa. Since its inception on the market, BitPay claims to have processed payment transactions amounting to almost $3 billion.
Vitalik Buterin, the co-founder and face of Ethereum, shared his stance on BitPay’s development and growth. He said that the new partnership with Bitpay opens up plenty of possibilities and opportunities for the Ethereum network and its thriving ecosystem.
Buterin also shared his delight that BitPay is leading the way for Ethereum so that it can find its spot within the competitive global payments marketplace. In the end, the genius boy behind the Ethereum network said that together, they would explore more of the potentials of cryptocurrencies and introduce them to the world.
BitPay’s double effort in security measures
In August, BitPay released a new list of rules for identity verification. This security protocol applies to specific high-value payments, payouts, and refunds. Users are required to provide private data such as passport number, social security number, and a photo ID during a one-time verification procedure. This requirement reflects BitPay’s effort of boosting its platform security measures.
Also in August, BitPay refused to process the $100 000 donations for a rainforest charity that is being facilitated by Amazon. This rejection happened because Amazon Watch has below $100 000 maximum payment limit. The staff was advised by BitPay to change the limit, but they said that it can’t be done automatically and that the process requires another set of documentation.