Do You Need Payment Protocol Support? - Now You Can Have It
Last week BitPay launched a support platform for the Bitcoin Payment Protocol, working to make Bitcoin payments easier than ever for merchants and users. The payment protocol eliminates much of the human error in completing a bitcoin payment, while providing a streamlined approach to the transaction process. A user can simply click on the payment link or....
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Atlanta, Georgia-based BitPay announced support for the bitcoin payment protocol on Friday, which aims to remove a bulk of human error upon making a payment in bitcoin. This will allow users to click on a payment link (or scan a QR code) and the user's wallet software will provide two options: pay or don't pay. This effectively eliminates the need to copy an address and amount into a wallet software, preventing silly mishaps. Streamlined refunds. The Payment Protocol aims to make refunds easy, too. When a user sends their payment, a refund address is included with it (which will fund the....
Bitcoin payments processor Coinbase has added support for the bitcoin payment protocol. Called BIP 70, the protocol allows communication between a merchant and its customers when transactions are made, and was designed to provide additional security and improve the customer experience. Coinbase says BIP 70 will offer improved protection against man-in-the-middle attacks on the payment process. Safer transactions. Addition of the protocol brings new features that should come in useful for many merchants: Human-readable, secure payment destinations - customers will be asked to authorize....
What do you do with bitcoin? Why, you spend it of course! Or more precisely you pay for something or some service using it. The specific process to pay using bitcoin is called the Bitcoin Payment Protocol and it is codified in a document called BIP70. A BIP is a Bitcoin Improvement Proposal and is one of the mechanisms used by the Bitcoin "core developers" to improve Bitcoin. There are all sorts of BIPS on lots of great topics but let's not get diverted. Go to: https://github.com/bitcoin/bips/ and check them out yourself. Now back to BIP70 the payment protocol. The description is at:....
San Francisco-based bitcoin broker and merchant services provider Coinbase announced on Thursday that they are now supporting the BIP:70 Bitcoin Payment Protocol. As provided by Coinbase, the following are features that make the Protocol useful: Human-readable, secure payment destinations- customers will be asked to authorize payment to a payment processor identified as "example.com" (or "Example, Inc." if an extended validation certificate is used) instead of an inscrutable, 34-character Bitcoin address. Secure proof of payment, which the customer can use in case of a dispute with the....
Although Bitcoin is more than 7 years old, making payments on the network is still a rather cumbersome task. With a user interface that requires users to send money to long strings of letters and numbers rather than human-readable names, it’s no wonder that many individuals have a hard time figuring out how to use this new financial technology. BIP 70 (Payment Protocol), which was authored by Bitcoin Foundation Chief Scientist Gavin Andresen and former Bitcoin developer Mike Hearn, has been a step in the right direction, but the relatively new BIP 75, which was co-authored by developers....