Acromobile Signs Deal With Bitnet to Process Mobile Bitcoin Payments

Acromobile, a provider of mobile management software, and Bitnet, a provider of Bitcoin processing solutions, has announced an integration of Acromobile Payments and Bitnet that allows the former to process Bitcoin payments on mobile devices.

"With companies like Dell and eBay (News - Alert) already accepting Bitcoin, the demand from B2B and B2C merchants is really accelerating," said  Acromobile founder Jason Masciarelli. "With Bitnet we are able to deliver an integrated CRM and commerce platform to unlock the Bitcoin opportunity for merchants with no risk and have them get paid in their local currency."

With the new system, vendors using mobile devices can process payments. In addition, they have powerful CRM tools

Bitcoin is a decentralized “cryptocurrency” that allows users and merchants to store and exchange digital money without the need for institutions like banks. Transactions are stored in a distributed, public ledger called a “block chain.”

Bitcoin first achieved public attention after the credit card and PayPal (News - Alert) processing accounts for WikiLeaks were frozen in 2010 in the wake of its publication of State Department cables. Bitcoin has been the toast of libertarian-minded Internet users because its decentralized nature makes it difficult for government agencies to freeze or seize their assets.

Bitcoin is also appealing more to mainstream vendors like Dell (News - Alert) who cite its extremely low fees per transaction, which are paid by the buyers rather than the sellers. With Acromobile, there’s also no risk of fraud or chargebacks. Sellers are also shielded from the price fluctuations within Bitcoin. Buyer and seller information is also kept private.

"Bitcoin is tailor-made for the Internet," said Alain Gendre, vice president of alliances at Bitnet. "No fraud, no risk, no borders, and lower fees than the most common current payment methods. And Bitcoin acceptance is only going to grow; we're seeing merchants who are early adopters of Bitcoin reporting that they've increased sales and added a new base of customers. We're excited to partner with Acromobile in providing merchants with the ability to accept Bitcoin payments."