Blockchain payments can make transactions faster, safer and cheaper at all levels of the business.
Because blockchain transactions with currencies such as Bitcoin do not send personal information, they do not put users at risk of identity theft. This saves businesses the costs of chargebacks and credit card fraud, which contribute to higher credit card fees and other overhead costs. In addition, the processing fee of 1% of BitPay is 30-70% lower than that of credit cards.
Many online companies already accept blockchain payments with BitPay, from giants like Microsoft and Newegg to small gaming markets and Shopify stores. But blockchain payments are not just for online transactions. BitPay is working to make them the most effective way to pay.
Bitpay has introduced an important update of BitPay Checkout for Android and iOS smartphones and tablets.
This new version improves the design and performance of the app, adds the acceptance of Bitcoin Cash (BCH) and adds BitPay changes to the payment protocol.
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Now companies can accept Bitcoin and Bitcoin Cash payments in a flash from customers, without the risk of volatile cryptocurrency prices.
When customers go to pay, they can select their currency of choice, select the option from those suggested, and then scan a BitPay Checkout QR code with their mobile wallets. Payments require only a touch and the merchant receives a transaction in local currency within one business day. Traders get every dollar or euro they charge, minus the processing fee of 1% of BitPay.