Newnote Financial, a digital currency investor company based in Canada, has been making strategic acquisitions in the industry. After acquiring bitcoin exchange Cointrader.net, the company has recently announced its acquisition of Paylvy.com, which is an online merchant catering to sales of digital products and services.
According to Newnote Financial CEO Paul Dickson, this acquisition is a strategic one for the company because it will allow them to integrate digital currency services into another using their APIs. “With the investment from Newnote, PayIvy will be able to serve more sellers with features that no other site can offer,” said Paylvy co-founder Lode Kennes in a press release.
Digital Currency Company Plans
With their other offerings such as the operations of CoinExchange Android App, Coinpayments.net, and BitVisits.com, the digital currency company can allow merchants to setup shop in Paylvy.com, accept payments through Coinpayments.net and convert bitcoin to cash through Cointrader.net.
Buyers can be able to fill up custom fields that allow for data collection while sellers can be able to take advantage of the affiliate marketing program in order to promote their products. For payments, the site can accept various cryptocurrencies, including bitcoin and litecoin via Coinpayments.net.
In addition, Paylvy merchants can have access to additional security features. Merchants can be able to protect their digital products from online piracy or unauthorized distribution and sharing.
“Our priority is to protect intellectual property,” added Dickson in a telephone conversation with Bitcoin Magazine. Newnote is also committed to tracking illicit sales of Netflix and other accounts through Paylvy.
Newnote Financial was able to acquire Paylvy at a purchase price of 260,000 CAD in cash and stock. For its first few months of operation, Paylvy has been able to register more than 10,000 merchants and process around $200,000 a month in sales. Apart from Kennes, co-founders Ton Manh Nguyen and David Snyder, will stay on at PayIvy to assist with daily operations and development.