BitPay

BitPay and Bitcoin to Accelerate Payment Process

BitPay and Bitcoin to Accelerate Payment Process

A Colombian outsourcing firm, Center Source SAS have shared that they have been adopting BitPay to speed up the payments process for their international customers. The CEO of Center Source, Michael Biedronski explained, “…It has opened up our outsourcing business allowing us to pursue clients looking for nearshore call centre services that accept blockchain payments.”

Copay wallet injected with Malicious Code

Copay wallet injected with Malicious Code

The BitPay revealed that the Copay wallet was compromised with a malicious code to the versions 5.0.2 through 5.1.0. It is said that the BitPay application remains unaffected. The company stated, “We are still investigating whether this code vulnerability was ever exploited against Copay users.” A secured version (5.2.0) would be released soon for Copay and BitPay users.

BitPay announces support for Paxos

BitPay announces support for Paxos

BitPay, a cryptocurrency payment processor, has announced their plan to list stablecoin, Paxos. The CEO of BitPay, Stephen Pair explained, “We are furthering this mission by allowing our customers around the world to receive fast and low-cost settlement using the USD backed Paxos Standard token. Paxos shares our vision to empower businesses across the globe to secure payments that are fast and stable.”

Bitpay permits settlements in GUSD and USDC

Bitpay permits settlements in GUSD and USDC

The Bitpay has enabled the merchants to receive payments in Gemini Dollars (GUSD) and Circle USD Coin (USDC). The company claimed in a blog post, “Because GUSD and USDC tokens exist on borderless blockchains, BitPay can now settle these US-dollar pegged stable coins to the merchants, wherever they are in the world- even if they don’t have bank accounts.”

No more crypto debit cards for European Customers

No more crypto debit cards for European Customers

Bitpay, the cryptocurrency payment provider, has recently unveiled that the European customers will no longer be able to use the cryptocurrency debit cards. Bitpay explained, “We are now working to sunset Bitpay accounts related to the Wave Crest-issued Bitpay card — In 30 days, we will be turning off access to your Bitpay card dashboard.”

Google Play Store Delists Bitpay

Google Play Store Delists Bitpay

Bitpay has been delisted from the Google Play Store. Bitpay is one of the well-known digital wallet service providers. There is no comment yet to be received from the digital wallet service provider company to explain the issue. Reportedly, it is observed that Bitcoin.com wallet and Copay have also been affected. Delisting of Bitcoin.com might be due to disturbing mining apps.

Bitcoin Cash settlement for BitPay merchants

Bitcoin Cash settlement for BitPay merchants

The BitPay has declared the launch of Bitcoin Cash option for merchants. The crypto is the second virtual currency settlement option enabled for BitPay merchants. The company stated, “BitPay merchants have been able to accept Bitcoin Cash payments from customers alongside Bitcoin payments. Now they can get their settlement payments in Bitcoin Cash too.”

Licensed BitPay

BitLicense for BitPay

BitPay has been granted BitLicense by the New York Department of Financial Services. The license permits the usage of BitPay platform for the acceptance of Bitcoin (BTC) and Bitcoin Cash (BTC) for purchases. The company is ranked as the eighth to have obtained the BitLicense from NYDFS in line with Square, bitFlyer USA, Coinbase, XRP II, and others.

BitPay assures fund safety

After Visa disabled payments through bitcoin cards by commanding WaveCrest to “close all its Visa Cards, BitPay issued a statement ensuring that the funds of customers are in safe custody and would be returned to them. It also stated that the non- US cards had been deactivated through which payment or withdrawal cannot be made.

Payment Protocol imposed by BitPay

BitPay enforced payment protocol which would be put to use for making payments through wallets compatible with Bitcoin Payment Protocol (BIP70). This will contribute to the reduction errors from the user’s end while making payments. The protocol was projected by Gavin Andresen and Mike Hearn which aims at “enabling better experience and security”.