Payza Mulling a Plan to Integrate the Bitcoin into Its Online Payment Platform

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Cryptolina Bitcoin Expo to Be Held On August 15-16, 2014
Cryptolina Bitcoin Expo to Be Held On August 15-16, 2014

Cryptolina Bitcoin Expo to Be Held On August 15-16, 2014

In its official blog, quoting Ali Nizameddine, Executive VP of Product and Technology at Payza, says that the company has started actively exploring different possibilities of integrating Bitcoin into its online payment platform. Ali was quoted as saying that the company has a distinct vision of how it would like to incorporate Bitcoins into its platform.

Claiming to help customers get their money where it needs to go quickly, conveniently, and securely, Payza has emerged as a one-stop solution provider for shopping and selling online as well as sending or receiving money everywhere and anywhere. Ali Nizameddine also said that the option that is most appealing is to allow members to purchase Bitcoins with funds.

He said that customers can now use funds in their secure Payza accounts and store their Bitcoins in their Payza e-wallets. They can also transfer them to another wallet service. Similarly, it will enable merchants that process payments using Payza to easily add the option to accept Bitcoin payments without the need to incorporate other payment gateways.

Nizameddine, however, clarified that though his organization is trying to achieve, the actual service offered will depend on the partnerships it forges and the regulations of the countries in which it operates.

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Bitcoin Cannot Be Ignored Says Ferhan Patel, Payza’s Director of Global Risk and Compliance

Ferhan Patel also shares the opinion by Ali Nizameddine about Bitcoin when he says that it’s clear for his company that cryptocurrencies in general, and Bitcoin specifically, should not be ignored. According to him as a company in the e-payments space, Payza has a responsibility to explore the option of incorporating relevant cryptocurrencies into its platform.

He believes that though there are obvious hurdles that need to be navigated before Bitcoins can become available through the Payza platform, his organization is waiting for clarity about it. Particularly, when the governing bodies around the world are still deciding how to treat Bitcoins, the point becomes even more important than ever.

There are a lot of discrepancies about the understanding of Bitcoin. For instance, it’s not clear whether it is a commodity or a currency. Similarly, there are some regulations that are applicable in one territory, but do not apply to another, and until these issues are solved it makes making a final decision difficult for the 190 country spanning Payza.

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