Payment processor Bitpay will soon accept ethereum

United States-based payment processor Bitpay will soon accept ethereum as a payment option. Businesses will be able to accept payments in ETH without need for any further integrations or enhancements. Supports for ethereum will go live in the coming weeks. Bitpay announced this on Monday. Besides ethereum the fintech company also accepts bitcoin and bitcoin cash.

Besides offering payment solutions the American company also enables users to store and use cryptocurrencies in an integrated wallet. As a result Bitpay users can pay for products or services using crypto. On top of that they can add money to their Visa debit cards.

“As one of the largest cryptocurrencies by market cap and one used by thousands of companies, Ethereum is the next logical choice.”

Stephen Pair, CEO of Bitpay (press release)

Besides ETH, BTC and BCH the payment processor supports three stablecoins: USD Coin, Gemini Dollar and Paxos Standard Token. In addition the company supports twelve currencies, including the US dollar, British pound, Canadian dollar, Australian dollar and euro. Payment processor Bitpay allows bank deposits to banks in 37 countries.

Bitpay is growing its footprint

Bitpay is one of the biggest payment processors in crypto. The company recently struck a deal with Blockchain.info. The is one of the biggest wallet providers in the world. Earlier this summer Newegg announced it now accepts bitcoin payments from all over the world, while even Twitch.TV brought back Bitpay as a payment option. Most notably however, is Bitpay's collaboration with the Ohio government. Thanks to the payment processor businesses were allowed to pay their taxes using crypto.

Bitpay's fee is one percent. This number is very low in comparison with credit card companies. The use of cryptocurrencies as a payment option also eliminates charge-backs and ID theft. Consumers can buy gift cards for Amazon, support Wikimedia or buy tickets for the Dallas Mavericks thanks to Bitpay.