Stripe Adds Bitcoin Support

0
91

Stripe Adds Bitcoin Support

ForexMinute.com – Online payments expert Stripe recently added Bitcoin payment support to its API, which users will able to accept payments in digital currency alongside credit cards. The new-feature is scheduled to come out of beta testing in January 2015 and will charge a fee of 0.5% per transaction.

Launched in March 2014, Stripe has earned itself a reputation for offering hassle-free online payment APIs to address businesses of all sizes. Until now, the company’s platform was supporting only credit card payments, but due to the increase in requests from users, it eventually decided to add Bitcoin support alongside.

From the look of it, Stripe seems just like another Bitcoin payment processor that converts BTC to USD in real time for merchants, in order to avoid market volatility. The company’s advice page clearly elaborates this progression in detail. Here is an excerpt:

“When you [merchants] use Stripe Bitcoin, your customer pays in bitcoin and you receive dollars in your bank account. At the time of the payment, the customer’s bitcoin are converted to dollars at market rate. This enables you to accept payments from any bitcoin user without taking on volatility risk.”

Stripe hasn’t revealed whether it is processing the Bitcoin payments by itself, or has hired a third party organization for the service. Such insight details might come to the surface only around the time of the Bitcoin support’s full-fledged launch.

To contact the reporter of the story: Yashu Gola at Yashu@forexminute.com

SHARE
Previous articleBloomberg: Bitcoin was 2014’s Worst Investment
Next articleEUR/USD Trading at Near-term Resistance
With an upbringing rooted in deep ethical values, Yashu Gola knows how to put honesty and dedication into his articles. This young and dynamic financial analyst has done his graduation in IT engineering. His interests in financial writing have once brought him to our digital doorsteps. Since then, he has been an integral part of ForexMinute.com and writes the most captivating news-articles on the foreign exchange industry, cryptocurrencies, and medical marijuana trading.