Bitcoin Cash [BCH] settlements now available to BitPay Merchants 22130
News
Ashmita Dutta
Aug 31, 2018 at 7:00 PM

The world of crypto news triggered with the blog stating that BitPay merchants can presently receive Bitcoin Cash[BCH] as settlement payment. The merchants can utilise the in-built wallet present on the BitPay for receiving the payment. There will be an alternative of having a separate wallet address for receiving Bitcoin Cash [BCH].

In the initial phase of 2018, this cryptocurrency got listed on the platform that facilitated the merchants to receive payments in Bitcoin Cash [BCH] from the customers with the help of POS app. Till now, the conversion of Bitcoin Cash [BCH] to Bitcoin or fiat currency for settlement purpose was available to the merchants.

However, on its implementation, the clients as per their choice can continue with sales proceeds in this particular digital currency. In the present times, cryptocurrency based payments have received a lot of friction while having product and service based businesses. This has been an initiative towards serving the customers who accepted the adoption of new method of business.

BitPay granted BitLicense

In the early phase of 2018, New York’s Department of Financial Services (NYDFS) has granted BitLicense to BitPay. The companies and customers present in New York can avail the services after BitPay has received the approval from the regulatory body. Furthermore, the cryptocurrencies namely Bitcoin [BTC] and Bitcoin Cash [BCH] are accepted by the businesses based in New York for making global purchase.

DISH, the satellite service provider of US has also been in collaboration with this company. This enables the customers of DISH to have crypto payments involving Bitcoin [BTC] and Bitcoin Cash [BCH] for their each month subscription. Also the movies with pay per view feature leverages the process of push transaction that is under the supervision of BitPay.

BitPay's chief commercial officer, Sonny Singh has commented that to BitPay there would be "seamless transition" from Dish's old service of payment. He stated, “Our goal for DISH Network is a seamless transition to BitPay so all customers who are currently paying for services with Bitcoin continue to have the option to pay with Bitcoin or Bitcoin Cash."

See also: Bitmain CEO's "modus operandi" is to fork and split Bitcoin Cash chain: Craig Wright

See also: Bitcoin community possessed "insane idea", says Roger Ver, Bitcoin Cash proponent

Image via Shutterstock

Join our Telegram group