With online transactions already starting to adopt Bitcoin as payment, in-person transactions of Bitcoin were difficult to execute. BitPay Checkout, formerly Bitcoin Checkout, aimed to remedy this problem when it launched in 2014.
BitPay Checkout, which is a solution for Point of Sale blockchain payments by Bitcoin service provider BitPay, received an update yesterday. The update includes improved design and performance upgrades, along with providing support for BitPay’s payment protocol.
BitPay boasts “30-70% lower” transaction charges. They currently charge 1% of all transactions undertaken through BitPay Checkout. They quote the reason for the reduced charges of chargebacks and credit card fraud as the anonymous nature of the transactions.
BitPay Checkout has already seen adoption in various brick-and-mortar small-scale establishments. In 2016, BitPay partnered with France’s Le Cercle du Coin to open up a ‘Bitcoin Boulevard’, which features 25 retailers who accept Bitcoin as payment.
In addition to the ease of access, the app can be customized to allow for tipping, order number tracking and use among multiple staff members.
The app, in both web and mobile variants, allows payment through scanning a QR code. The business owner then receives the payment within 1 working day along with a 1% service charge.
One of the most significant changes in this update is the support for payment protocol-only transactions. BitPay’s payment protocol aims to eliminate user error by creating an SSL-secured connection to the owner of the receiving Bitcoin address. It also ensures that payments with low miner fees will never reach the network, thereby allowing for faster refunds.
Wallets that implement this protocol include BitPay Wallet, Copay Wallet, Mycelium Wallet, Airbitz Wallet, Electrum Wallet, and Bitcoin Core Wallet among others.
By allowing small-scale brick-and-mortar establishments to accept Bitcoin payments, BitPay paves the path for mainstream adoption of Bitcoin as an everyday currency.
Rebecca Liggero, a Twitter user says:
“AWESOME!! Been waiting for BCH to be added to the
#BitPay checkout app- thank you!”
Another Twitterati says:
“Absolutely fantastic job, BitPay team! Big THANK YOU from Bitcoin Cash community.”
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