The wait is finally over for BitPay merchants wanting to accept payments made directly in Bitcoin Cash (BCH).
On Wednesday, the cryptocurrency payment chip announced its affiliated merchants–over 100,000 of these–may currently “do business with a growing, passionate community of Bitcoin Cash users” using a new feature that directly takes Bitcoin BCH, the cryptocurrency with current market capitalization of over $15 billion.
“Maintaining support for Bitcoin Cash is just another essential stage in our vision for blockchain payments. BitPay merchants can instantly accept Bitcoin (BTC) from users around the globe. By adding functionality for a new payments blockchain like Bitcoin Cash (BCH), we’re expanding the reach and scale of our merchants’ BitPay checkout experiences,” BitPay said in a blog post.
Merchants with the BitPay platform is going to have the choice to pay for with BTC or BCH. Merchants can accept payments for both blockchains and acquire direct financial deposits the subsequent business day with only 1 percent transaction fee, according to BitPay.
The announcement comes a few weeks after BitPay quietly incorporated BCH capability to virtually most the merchants with whom it has an agreement, comprising Newegg, Namecheap, and Vultr. At the moment, but the BCH obligations were changed into U.S. dollars or BTC until these were delivered.
The next job from the offing is allowing settlements in Bitcoin Cash, which BitPay said can present its merchants “another way to get paid for payments accepted via BitPay.” The payment processor also intends to bring Bitcoin Cash to its own mass payouts product, which is utilised to cover affiliates, sellers, programmers, and payees around the world.
Since December, BitPay has been processing obligations for a number of blockchains, beginning with Bitcoin Cash. The decision is based on the heels of a “growing demand” to empower Bitcoin Cash aid amid the superior transaction fees and system congestion over the BTC series. BitPay’s open-source copay pocket also claims to make it much easier for users to pay and save their Bitcoin Cash alongside BTC, providing them with “the freedom to choose – or to make use of both BCH and BTC.”
BitPay CEO Stephen Pair said told CoinGeek.com at a previous interview which “offering the same service for the Bitcoin Cash blockchain is likely to make it simpler for businesses and consumers to utilize BCH for major trades”.
