By
Mayowa Adebajo
April 15th, 2024
BitPay, bitcoin payments processor, presented new plan that will make its basic services free and unlimited.
BitPay, bitcoin payment service provider based in Atlanta, has launched a new plan that makes its services free and unlimited for customers.
With the new plan, traders will be able to use any application, plugin or API from the BitPay library. Moreover, merchants will have an unlimited access to the firm’s email support.
Tony Gallippi, BitPay chief executive officer, said the announcement will support the company as it is aimed at increasing the number of merchants.
“We have set a goal to enroll 1 million merchants by the end of 2016 […] When we started BitPay in 2011, we saw an opportunity to finally give merchants around the world relief from interchange fees. By offering a basic plan that is free and unlimited, forever, we give merchants yet another reason to be excited about bitcoin,” Gallippi said.
The current prices of the company’s business and enterprise projects, offering additional features for users, will remain the same.
The pricing plan will eliminate any obstacles for new trader that want to integrate digital currency payments.
Earlier, BitPay’s pricing plan was offered at a price of $30 over the period of 30 days, for financial transactions of up to $10,000 per day.
In comparison, payment processor Coinbase, main BitPay’s competitor, provided its processing services for free for users, who want to receive payments in the cryptocurrency. Bitcoin wallet provider charges 1% fee for exchanging bitcoin earnings for dollars after the firm’s first $1 million in sales.
BitPay will now be able to focus on its core service, as it has recently been concentrating on its user platforms. In the beginning of July, BitPay launched Get Bits, a new Facebook applications that help friends to buy and sell bitcoin via the social network. This July BitPay also released multi-signature wallet service called Copay.
Bitcoin wallet provider includes over 35,000 users, among others web software WordPress, spaceflight company Virgin Galactic, online retailer TigerDirect, computer hardware and software trader Newegg and e-commerce marketplace platform Shopify. Still, Coinbase has recently cooperated with such firms as computr giant Dell, satellite TV provider Dish Network, travel website company Expedia and floral and gift retailer 1-800-Flowers
This month, Shopify, which has used BitPay, included Coinbase as its second option. The move further increases competition between two companies.
Speaking to CoinDesk, Shopify commented that Coinbase was added as it might “innovate a bit more” what would provide benefit for its customers.