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NETELLER Accounts Now Support Bitcoin

Mobile Commerce Insider Featured Article

March 31, 2015

NETELLER Accounts Now Support Bitcoin

By Clayton Hamshar
Contributing Writer

A recent agreement between Optimal Payments, a global online payments service, and Bitcoin payments specialist BitPay has made Optimal Payments one of the largest financial institutions to offer Bitcoin compatibility and functionality to its customers. Users of Optimal Payments’ NETELLER secure online payment service can now enjoy the benefits of using Bitcoin to carry out transactions and immediately convert funds among various currencies.

“NETELLER already provides merchants and customers a broad and diverse set of online payment options and the addition of Bitcoin gives them another valuable payment method to help convert more transactions,” said Joel Leonoff, President and CEO of Optimal Payments. “We recognise the important role that crypto-currencies play in the future of payments and we look forward to working with BitPay as the acceptance rate grows.”

BitPay’s payment processing technology was designed with businesses in mind and enables immediate conversions between Bitcoin and other currencies, which minimizes the impact of Bitcoin’s infamous volatility. The service supports a wide range of currencies in more than 140 countries, making it a perfect solution for merchants that sell products and services to diverse customers around the world.

BitPay integrates seamlessly into a variety of e-commerce web services with the inclusion of a powerful Application Programming Interface (API), seven ready-made libraries and open-source plug-ins. Some platforms can be integrated straight out of the box with no development necessary once an account is connected. BitPay also integrates into several retail and point-of-sale solutions, and provides a way to offer customers convenient billing and accounting services as well as an option for donations.

“Bitcoin's popularity is growing rapidly and has established itself as the most secure, most widely accepted digital currency,” said Sony Singh, CEO of BitPay. “This relationship with Optimal Payments will help us to drive merchant acceptance on a global scale.”

Bitcoin support continues to permeate financial institutions as the benefits it brings to both companies and customers are realized and the crypto-currency’s volatility subsides in response. NETELLER’s commitment to providing businesses and their customers with a simple way to perform quick, secure transactions practically mandates support for the revolutionary new currency, and parent company Optimal Payment’s partnership with BitPay is the key to offering this capability.

Edited by Dominick Sorrentino

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