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Table of Contents

Lead Story

Pop-ups for the holidays - and beyond

News

Industry Update

Is Clover the POS of the future?

Tyfone confronts data security 'cross over'

BIPS adds to bitcoin news

Views

It's an ever changing world - predictions for 2014

Michael Gavin
Merchant Warehouse

An open letter to the electronic payments industry: Let's put a stop to criminal practices in our industry – now!

Robert O. Carr
Heartland Payment Systems Inc.

Benefit by adopting an as-a-service business model

Sean Berg
Harbortouch

Education

Street SmartsSM:
Nothing succeeds like failure

Dale S. Laszig
Castles Technology Co. Ltd.

Money2020 and the fast-changing payments world

Peggy Bekavac Olson
Strategic Marketing

Sell with the right tools

Tom Waters and Ben Abel
Bank Associates Merchant Services

Company Profile

Planet Group Inc.

New Products

The next storefront

Inspiration

What motivates your business partners?

Departments

Resource Guide

Datebook

Skyscraper Ad

The Green Sheet Online Edition

November 11, 2013  •  Issue 13:11:01

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BIPS adds to bitcoin news

Whether bitcoin will flourish in the long term is open to debate, but news about the alternative currency is abundant. In October 2013, the first bitcoin-enabled ATM went live in Vancouver, British Columbia, Canada; a Norwegian man who forgot he purchased $24 worth of bitcoin in 2009 found it was now worth about $690,000; and U.S. authorities seized an estimated $28 million in biticoin from the owner of the notorious online marketplace dubbed the "Silk Road."

Additional news about bitcoin surfaced in the payments industry. Copenhagen,Denmark-based Bitcoin Internet Payment System integrated its bitcoin payment platform with the e-commerce platform of Bigcommerce Pty. Ltd. The integration enables 40,000 plus Bigcommerce merchants to accept bitcoin as payment for products and services.

By accepting bitcoin, merchants will be able to enjoy all of the benefits that the innovative cryptocurrency offers, including "lower fees, no risk of chargebacks, the potential for increased privacy for customers and the ability to accept payments from over 190 countries around the world," BIPS stated.

Beyond bitcoin account signup and linking to Bigcommerce accounts, no additional setup, installation or coding is required, which dramatically lowers the barrier for merchants interested in accepting bitcoin, according to BIPS. The bitcoin processor noted that it gives merchants the option of having bitcoin revenue immediately converted to any of over 160 currencies and have funds transferred to merchant accounts at the end of each business day.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | Harbortouch | USAePay | IRISCRM.COM | Humboldt Merchant Services