In an announcement Canada-based Bitcoin start-up YesToBitcoins says that it is now going to allow customers pay their credit card bills with the popular digital currency instead of the standard currencies. This is going to help the customers who wish to use the tech-savvy digital currency catching the imagination users world around.
Darwin Ramon, a Bitcoin enthusiast and creator of YesToBitcoins.com says that there was no reason to hold back the digital currency, particularly, when it is catching the imagination of users around the world. He says that the idea struck him when he realized that the technology is already there and a lot of users embracing it, why not his company.
He realized that there are a lot of users who would prefer to pay credit card bill with Bitcoin and his company is just trying to help them do this. According to him it is a wise decision for his company to embrace Bitcoin before the banks catch up. Nonetheless, his goal to facilitate the inclusion of Bitcoin in the established economy will be achieved by the decision.
Darwin Ramon admits that if anything someone puts on his credit card can be paid with Bitcoin, then anything he buys can be paid with Bitcoin, in such a situation Bitcoin cannot be left aside. His company that was formed in June 2014 as a service to allow customers to purchase gift cards of some popular outlets with Bitcoin is moving to new segment.
Bitcoin is the Idea Whose Time Has Arrived
So far the site has been allowing users purchase gift cards that can be used at Amazon, Decathlon, Best Buy, iTunes, Zara and Starbucks among others. However, now that the website has the ability to pay with Bitcoin all Canadian credit cards, which includes four types of American Express cards, 23 MasterCards and 33 different VISA credit cards, which are otherwise only payable via fiat currencies, too will be made available.
For the purpose to allow users pay credit card bills with Bitcoin, YesToBitcoins.com has tied up with payment processing firm Bitpay and PC Financial Bank. The company says that all Bitcoin transactions are securely handled by Bitpay, which also calculates the Bitcoin parity with the Canadian dollar.
The year 2014 has though been bad for Bitcoin investors; it has also seen a lot of companies embracing it. Some big names like Microsoft, Dell and Overstock.com decided to associate themselves with Bitcoin; YestoBitcoins.com is a new addition to the list.
To contact the reporter of this story: Deepak Tiwari at email@example.com