Online billing service company invoiced.com recently added a Bitcoin option to its platform, thereby enabling users to send invoices and receive online payments in digital currency.
The announcement arrives like a breath of fresh air for Invoiced-based online merchants which, until now, were made to pay hefty commissions for using traditional payment methods. The integration of Bitcoin, on the other hand, has at least ensured them a low cost payment method, something that would surely reduce their financial burdens to some extent.
Invoiced’s CEO Parag Patel openly credited their customers to be the only reason they added Bitcoin to their invoice generating and online payment platform. As he told CCN, his company itself believed in the digital currency’s potential to be “more ubiquitous than credit cards” to an extent that it now wants all sort of small businesses and consumers to adopt it.
“We want bitcoin to succeed and the only way that will happen is if more small businesses and consumers start accepting and paying in bitcoin,” said Patel.
However to make sure its users don’t get intimidated by Bitcoin’s highly volatile prices, invoiced.com, like every other digital currency based business, preferred to partner with a third party payment processor. The company eventually chose Stripe, a San Francisco-based real time Bitcoin-to-Fiat converting service that will instantly protect users from Bitcoin’s untrustworthy prices. It will charge a nominal 0.5% commission for each transaction it implements successfully.
On the whole, the event marks the growingly illustrious attention Bitcoin is receiving from each and every sector (read Wall Street Journal). By every hint, it will grow further as a viable payment method for online businesses and consumers alike.