B2B Bitcoin Payments on the Rise
According to BitPay’s annual report, business-to-business payments have made up over 10% of all transactions the firm has processed over the past 12 months. PayPal and Banks: Inefficient. Global merchant payment processor and bitcoin solutions provider BitPay released its annual report for 2015 in January. The BitPay researchers figured that the average B2B payment in 2015 was around US$2,500, 25 times higher than US$100 average consumer payment. While many bitcoin startups set their focus on the utilization of the Bitcoin network’s ability to handle micropayments with robust security and....
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A group of US filmmakers is using bitcoin to crowdfund its documentary on the rise of the virtual currency. "The Rise and Rise of Bitcoin," about a computer programmer obsessed with the virtual currency, explores the competitive mining market and the startups involved in the bitcoin community. The movie is being produced by 44th Floor Productions, DARONIMAX Media and Fair Acres Media. The director is Nicolas Mross, who previously directed horror movie Riddle. Putting their money where their mouth is, the filmmakers hope to help fund the production with bitcoins. A donation page on their....
According to the Payments Council, cash transactions in the UK fell to 48% of overall payments last year, down from 52% in 2013. This comes as no surprise, given the international rise of popular social payment services such as Snapcash, Squarecash and Venmo, as well as the already mainstream use of Paypal to shop online. These services, along with debit cards and digital currency trade, have collectively overtaken payments in physical bills andcoins as of last year. It is expected that in about a decade cashless payments will account for £28.8 billion, as opposed to £12.7 billion in cash....
The deputy governor of New Zealand's Reserve Bank (RBNZ) has said the institution is "not threatened" by the rise of bitcoin and digital currencies. According to a report in stuff.co.nz, deputy governor Grant Spencer made the comments this morning at Payments NZ, a two-day international payments industry conference in Auckland. Spencer's comments are in contrast to those of other central bank representatives over the course of this year, most of which have concerned warnings of bitcoin's investment risk and/or lack of legal tender status. "I do not doubt that future digital currencies will....
Many Bitcoin enthusiasts around the world are keeping a close eye on the developments being made in the mobile payments industry. Cashless transactions are on the rise in several countries around the world, and the shifting paradigm leaves the door open for alternative payment methods to gain a foothold. While Apple Pay may seem to be a strong contender, a recent security vulnerability may have you think twice about using it. And that gives Bitcoin an even bigger opportunity to make a worldwide impact. Credit cards are a convenient way to pay for goods and services, both in the offline and....
A vast majority of the population in Tunisia is unbanked, giving rise to the need for an alternative payments system. The country is currently able to tap into the blockchain technology or distributed ledger to be used for its mobile payments platform under Swiss software startup Monetas and the La Poste Tunisienne or postal office. Monetas will serve as the software provider, offering the technological architecture necessary to support the blockchain payments system similar to that of MPesa. Intersystem Blockchain Payments. While there are several alternative payments systems offered in....