BitPay, a bitcoin payments processing firm founded in 2011, rolled out new features to make payments acceptance easier for its active merchants. The company announced these improvements to their services along with new pricing plans in a blog post.
BitPay New Merchant Plans
The BitPay Starter Plan is still free for transactions up to $1,000 daily and 30 transactions per month. This could allow small businesses to integrate bitcoin payments acceptance on their websites at zero costs, now having access to a new payment dashboard and a simplified refund and invoice adjustment flow.
Merchants under the Starter Plan but process more than 30 transactions a month will be subject to a 1% fee for the additional transactions. BitPay also added to its list of countries in which bank settlements can be conducted.
The BitPay Business Plan, which previously came at a fixed $300 monthly subscription fee, will now be based on a usage-based 1% plan. The company has noted that the fixed subscription fee proved to be a barrier-to-entry for some larger merchants so they’ve decided to switch to a more cost-effective model based on sales.
In addition, Business Plan merchants will enjoy a multi-user login feature, along with payment dashboard enhancements, simplified refund and invoice adjustment capability, and hosted integrations.
Lastly, merchants on BitPay’s Enterprise Plan will not be subject to any changes in contract pricing. Enterprise merchants will continue to get first access to new features as well as priority service and support. This plan offers unlimited transactions processing, daily and premium settlement options, and an account manager for customer support.
The company clarifies that payments processing is conducted for most businesses, although legal and regulatory concerns can prevent them for servicing some industries.