Registered users only need the email address of the recipient to send a Bitcoin payment using the EmailPay service and have to pay Bitwala’s 0.5 percent transaction fee. Users can send payments up to whatever amount they are authorized, fully-registered Bitwala users can transfer up to 50 000€ per month.
The procedure is quite easy: the user goes to the dashboard on the Bitwala website and clicks the New Bill button. Afterwards the user fills in details of the transfer, confirms the details, accepts the terms and conditions, and then sends the payment in Bitcoin.
The EmailPay expands on the benefits of the QuickPay feature, introduced by Bitwala in May. Quickpay eliminated logins and passwords associated with paying bills through the Bitwala platform.
“We had hundreds of transfers in May. We don’t know exactly how many of them were QuickPay, but we got really good feedback on that feature from our users,” Jörg von Minckwitz, Bitwala CEO, commented.
Bitwala debuted about three months ago, the service settles payments in EUR in the European Commission’s Single Euro Payments Area (SEPA).
In the early days of Bitwala’s services being offered, the fee per transaction was 3% of the total amount (or a minimum of 5 EUR.) As the platform was only recently launched, the fee was rather high for the service provided, but that may have been a deliberate decision by the owners. It bears repeating that at the moment there is a 0.5% service fee + 1 EUR in place.
“Over the last couple of months, we asked our customer for feedback and the main feedback we got is that we should introduce lower fees. We want to take care for the needs and wishes of our customers. In addition to that we increased the limit for our fully verified user. From now on you can send up to 50 000 Euro to the SEPA zone,” Jörg von Minckwitz said.
Bitwala pays bills in the 19 European Union member states that are part of the Eurozone: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain. The recipient must be in one of above countries, the sender may be from any country.
“The last couple of months we have had increasing demand from people who just want to transfer money abroad. Most of those customers come from Eastern Europe, Greece, Romania, Albania etc., but also from North Africa, India, and many more are contacting us on a regular basis now,” Jörg von Minckwitz said.
The service is designed primarily for customers to use for paying bills. However, some businesses are using Bitwala. Its CEO believes the ease of making payments with EmailPay will help popularize Bitcoin in the European Union.