Bitcoin community has another reason to rejoice. Bitnet, an enterprise Bitcoin payments processor, and PAY.ON, which is a leading provider of white label global payment gateway solutions, have joined hands to make Bitcoin a globally accepted currency. The news of the announcement to this effect came today.
The duo has agreed to globally offer Bitcoin as a viable payment method through PAY.ON’s RESTful API-based payment platform.
The reach of Bitcoin has already increased manifold as it allows transaction with anyone and from anywhere at a negligible cost and at a minimum risk.
Several banks and other financial institutions have also started seeing the digital currencies with hope as the analysts feel that these can help address the loopholes in the traditional financial set-ups.
John McDonnell, CEO and Founder of Bitnet expressed satisfaction at the deal by saying that “Our partnership with PAY.ON enables us to achieve scale by enabling Bitcoin acceptance for over a hundred PSPs globally. It is an innovative technology company that powers payments infrastructure at a global level, and we are excited to be working with their team to bring Bitcoin acceptance to their PSP clients around the world.”
The announcement of the partnership by the duo shows increased confidence in the strength of the digital currency ecosystem. From now on, all of PAY.ON’s clients can ask their merchants to add Bitcoin to their checkout pages.
This partnership will allow PAY.ON’s 100 plus PSP clients to allow Bitcoin related transactions to be made without putting the merchants at any kinds of risks, frauds or fluctuations in the price. Bitnet, another leading player boasts of being the first Bitcoin payment processor which has been designed to service both the merchant and the PSP ecosystems. Bitnet also allows merchants to set prices in the local currency, accept Bitcoin payments from consumers, and settle the transaction in the merchant’s currency of preference.