BitPay, a payment service provider (PSP) specializing in e-commerce, B2B and enterprise solutions for the bitcoin digital currency, has unveiled a new pricing plan that offers basic payment processing free, forever.
The company is hoping to leverage the pricing plan to woo businesses into accepting bitcoin for goods and services.
“We have set a goal to enroll 1 million merchants by the end of 2016,” said Tony Gallippi, BitPay’s co-founder and executive chairman. “When we started BitPay in 2011, we saw an opportunity to finally give merchants around the world relief from interchange fees. By offering a basic plan that is free and unlimited, forever, we give merchants yet another reason to be excited about bitcoin.”
BitPay touts bitcoin’s advantages over credit cards, because the bitcoin network, according to the company, offers instant low-cost payments anywhere in the world by using a distributed network that is free from interchange. Accepting bitcoin also opens new international markets for businesses, including South America, Eastern Europe, Asia and Africa where accepting traditional credit cards is risky and expensive and banking services are less developed, the company said.
BitPay’s free processing allows merchants unlimited use of any plugin, API or app from BitPay’s library and grants them access to BitPay’s industry-leading email support. BitPay will continue to offer its business and enterprise plans for customers that need additional products and support services.
BitPay has integrated the world’s leading tools for e-commerce, billing and retail point-of-sale including WordPress, Shopify, VisualTouch, New West, Magento and SoftTouch, in an effort to make it easy for businesses to add bitcoin as a payment option.