BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, today announced two new exchanges and two new wallets are adopting its accurate payment protocol including top crypto providers Bitso, Bitstamp, Edge and Guarda.
BitPay’s accurate payment protocol, the BitPay Protocol, enables more reliable blockchain payments by eliminating common payment exceptions including overpayments, underpayments, late payments, unconfirmed payments, and potential double-spend payments. In addition to the new partners, the BitPay Protocol has already been adopted by Blockchain Wallet, the world’s largest self-custody wallet. Many other leading wallets are also payment enabled including Electrum, BRD, Metamask, Ledger and more. Verifone’s 600,000 merchants, with a footprint of 35 million devices, also have BitPay’s Payment Protocol automatically enabled for in-store and online purchases.
BitPay launched its exact payment specification in 2017 in an effort to eliminate payment exceptions when transactions are made with cryptocurrency. This standard is currently being adopted by many top wallet providers. BitPay has developed its existing features to allow businesses to accept crypto via BitPay and receive payment errors-free from over 200,000,000 crypto users. As a blockchain payment processor, BitPay’s goal is to work with all wallets, and BitPay is the only payment processor that works with more than 100 different wallets to facilitate and optimize consumer-to-business and business-to-business payments. BitPay has processed more than $5 billion in payments since its inception and is now used by tens to thousands of businesses around the world.
“Businesses accepting crypto should be able to accept payments from any crypto wallet and payments should post fast and be free of payment expectations. BitPay Protocol delivers on all these benefits and BitPay is pleased that our new and existing wallet and exchange partners have set the industry bar for payment quality,” Stephen Pair, CEO at BitPay. “We are developing payment technology solutions to transform how businesses and people send, receive, and store money around the world making payments faster, more secure, and less expensive.”
“Since the founding of Edge, we have always been passionate about people truly using cryptocurrency to buy and sell goods and services,” said Paul Puey, CEO / Co-founder at Edge. “We are happy to support the BitPay Payment Protocol to streamline the user experience at the point of sale for thousands of merchants and further drive adoption of cryptocurrency.”