BitPay, one of the biggest cryptocurrency service provider, has announced few days ago that it permits to customers to pay with Bitcoin or Bitcoin Cash. The service provider agrees the payment with Bitcoin Cash for businesses. BitPay is already available for Bitcoin, but it wants to enlarge the options for the customers.
Restaurants and other retail businesses already use BitPay Checkout in Atlanta, Toronto, St. Petersburg, Madeira Beach and Paris. All these businesses are using BitPay since Nov.2014, that’s why the company decided to include more options for crypto payments, among them Bitcoin Cash. Users of crypto payment will be able to use Bitcoin Cash on Shopify, 3DCart and Bitmonet.
BitPay confirms Bitcoin Cash
“When customers go to pay, they can select their currency of choice, select the option to give a tip, then scan a BitPay Checkout QR code with their mobile wallets,” BitPay wrote. “Payments take just a swipe or a tap, and the receiving merchant gets a local currency bank settlement within one business day. Merchants get every dollar or euro they charge, minus BitPay’s 1% processing fee.”
Last month, BitPay developed their system in order to accept also Bitcoin Cash as a payment, not only Bitcoin. This is the first time that the company accepts an altcoin as a method of payment. The press release stated that merchants integrating BitPay for small-scale transactions including video games and app downloads would find it easier “since Bitcoin Cash costs only pennies (or less) for customers to send”.
The co-founder of BitPay, Stephen Pair, declared that Bitcoin is the best option until now. Following Bitcoin Cash’s launch in August, BitPay allowed users to store and spend Bitcoin Cash in its open source wallet, Copay. This was one of the reason why Bitcoin’s Cash price rose from $313 to $431 within 24 hours in Sep. 2017.
Bitcoin Cash, currently the fourth-largest cryptocurrency, has once again increased by almost 19% after BitPay’s announcement today. However, the price was already rising upwards – it is now up 100% in one week. The market cap has also doubled within these seven days, climbing from $12 billion to $24 billion.