CoinPip to Launch SMS Bitcoin Service

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CoinPip to Launch SMS Bitcoin Service

A Singapore-based payment provider CoinPip has created new ways of making payments, facilitating the transmission of bitcoins via SMS anywhere around the world.

The technology employs seamless interaction with the SMS wallet system owned by 37coins, a US firm. The technology targets developing and emerging markets, where most bitcoin users may not have access to smartphones or desktops, according to the CoinTalk.

With the SMS bitcoin solution, any user of a device with SMS capabilities will be able to make bitcoin payments via any CoinPip Merchant Point of Sale.

Co-founder of CoinPip, Anson Zeall, intends to extend the service to Hong Kong and Indonesia within the next couple of weeks.

CoinPip hopes to enhance the safety of bitcoin transactions and other virtual currencies, improving their utility to the level of traditional money. Zeall desires to penetrate Markets in Southeast Asia where there is little coverage of 3G infrastructure.

“The mobile market in Southeast Asia is massive but the usage of smartphones is still lagging. So QR code scanning is not that useful. Thus the collaboration with 37coins is going to make payments more convenient for everyone else,” Zeall is quoted by Coindesk as saying.

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To start using the 37coins bitcoin SMS wallet, users on mobile devices in countries where the service is in operation only need to go the company’s website and submit their mobile numbers.

After confirmation, the payment gateway can be accessed by anyone from any location. Also, customers can send and receive payments in bitcoin from anywhere there is mobile access.

Recently, CoinPip introduced an internet-based API for merchants who are willing to accept online bitcoin payments. The application is available on the Google Play store.

The CoinPip Merchant Solution makes it possible for Merchants in some countries in Southeast Asia region to take bitcoin payments and have the money in their local currency.

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To contact the reporter of this story; Deepak Tiwari at deepak@forexminute.com