November 7, 2014
Payment processing companies are trying their best to streamline payments at the checkout. The main objective currently has been to make payment process quicker and easier for customers at brick and mortar locations. In this payments market, newcomers like Apple Pay and CurrentC are trying to make a mark and grab a prominent share of this market. Even Bitcoin companies are now willing to enter this market.
BitPay, a popular player in Bitcoin payment processing, is poised to make the process of paying with Bitcoin much simpler, for both merchants and customers. The company has also integrated SumUp, a European POS company, into its own system to allow SumUp to accept Bitcoin. BitPay launched a new Bitcoin Checkout app recently at an event. The new app will support 40 different languages and includes a number of features like multi-employee checkout, tipping and tip reporting.
The new app will be made available to devices running Android and iOS platforms. But the best feature which only the Android version provides for now is the one-tap payments using NFC. This allows the app users to simply place their devices near merchants’ POS to receive the Bitcoin payment instructions.
In an exclusive interview with CoinTelegraph, Tony Gallippi, Co-founder and Executive Director at BitPay, mentioned that the app has received a good response especially from small and medium enterprises. He said: This is a major step toward standardizing NFC payments in the Bitcoin space. A number of Bitcoin wallets have already implemented support, and the release of Bitcoin Checkout will certainly motivate further development throughout the Bitcoin ecosystem. Bitcoin’s transition to more seamless tactile and near-range payment methods will be an ongoing process, and we’re excited to be working with wallet vendors to perfect that experience'
The partnership with SumUp will bode well for BitPay. SumUP is a mobile payment app similar to Square, but supports EMV and other European payment methods as well. SumUp decided to add Bitcoin so that they could offer a one-stop-shop with as many payment methods available to their clients as possible. SumUp will offer BitPay’s full functionality which includes features like next-day bank settlements, zero volatility risk and QuickBooks import to report to reconcile Bitcoin sales with ease.