In an announcement LocalBitcoins said that it has added a new section to its website where users can send and manage invoices. The feature came after a lot of thought was given to the requirement from the users who requested this feature. The company says that it extends quite nicely the existing toolset.
Now, with the latest feature users will be able to receive payments in Bitcoin. According to the company the offering marks the peer-to-peer platform’s first merchant-specific product. In his statement founder and CEO Jeremias Kangas said that the feature has been added to the list of the priorities for the company after demand came from customers.
The company CEO is of the view that the tool is going to serve as a basic offering that would nonetheless prove effective at meeting the needs of merchants today before expanding to include additional functionality later. According to him, the invoicing tool was originally developed for the company’s Bitcoin ATM product.
He however, made it clear that the decision was made to extend it to all users and while simple in its current iteration, the company plans to build on this offering. Thus, according to him soon, it will be easy to integrate to websites via the company’s API, basically allowing the same kind of processes BitPay and Coinbase are currently offering.
Company Wants to Take Advantage of Global Reach
Jeremias Kangas said that such a move could allow LocalBitcoins to take advantage of its global reach and available liquidity in a wide range of local currencies. According to him, while integrating novel features that allow merchants to take advantage of its local trader network, the company aims to cater the customers well.
Based in Finland, LocalBitcoins aims to help facilitate the buying and selling of Bitcoin for local currency and according to a source from the firm users post their trade on the website or can respond to others’ offers. Also, they can choose to pay in cash in person or through online banking, depending upon their convenience.
The company says that its focus is on the users and the community and for that it is ever expanding and wants to bring Bitcoin exchange and economy to every city in the world. According to the motto of the firm it believes the Bitcoin to be a black swan event, something that fundamentally changes how financial world works.
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