BitPay’s Accurate Payment Protocol Adopted by Exchange Partners Bitso, Bitstamp and Wallet Partners Edge and Guarda
Over 100 Wallets and 200 Million Customers Can Now Pay Without Payment Errors Using Crypto
BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, announced two new exchanges and two new wallets are adopting its accurate payment protocol including top crypto providers Bitso, Bitstamp, Edge, and Guarda.
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“We are happy to support the BitPay Payment Protocol to streamline the user experience at the point of sale for thousands of merchants and further drive adoption of cryptocurrency.”
BitPay’s accurate payment protocol, the BitPay Protocol, enables more reliable blockchain payments by eliminating common payment exceptions including overpayments, underpayments, late payments, unconfirmed payments, and potential double-spend payments. In addition to the new partners, the BitPay Protocol has already been adopted by Blockchain Wallet, the world’s largest self-custody wallet. Many other leading wallets are also payment enabled including Electrum, BRD, Metamask, Ledger and more. Verifone’s 600,000 merchants, with a footprint of 35 million devices, also have BitPay’s Payment Protocol automatically enabled for in-store and online purchases.
BitPay first launched its accurate payment specification in 2017 to eliminate payment exceptions in transactions made with cryptocurrency, setting the standard currently adopted by top wallet organizations. Since then, the company has expanded upon the available features and now businesses can accept crypto through BitPay and receive error-free payments from over 200 million crypto users. As a blockchain payment processor, BitPay’s goal is to work with all wallets, and BitPay is the only payment processor who works with more than 100 different wallets to facilitate and optimize consumer to business and business to business payments. The company has processed over $5 billion in payments volume since inception, for tens of thousands of businesses worldwide.
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“Businesses accepting crypto should be able to accept payments from any crypto wallet and payments should post fast and be free of payment expectations. BitPay Protocol delivers on all these benefits and BitPay is pleased that our new and existing wallet and exchange partners have set the industry bar for payment quality,” said Stephen Pair, CEO of BitPay. “We are developing payment technology solutions to transform how businesses and people send, receive, and store money around the world making payments faster, more secure, and less expensive.”
“Since the founding of Edge, we have always been passionate about people truly using cryptocurrency to buy and sell goods and services,” said Paul Puey, CEO / Co-founder at Edge. “We are happy to support the BitPay Payment Protocol to streamline the user experience at the point of sale for thousands of merchants and further drive adoption of cryptocurrency.”
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