Stripe Merchants Will Soon Be Able to Accept Bitcoin Payments

Stripe-logo28 Mar 2014 / Recode – Online payments company Stripe will soon allow its customers, who use its payments tools to accept credit card purchases online, to accept bitcoin payments as well, its CEO told Re/code on Wednesday evening. Stripe believes it is the first major online payments platform to support purchases made in bitcoin.

Up to now, Stripe merchants that wanted to accept bitcoin as a payment method would have to integrate with bitcoin-specific processors such as Coinbase or Bitpay.

Stripe will start supporting bitcoin payments through a private beta program that its customers can sign up for. Tarsnap, an online backup service, is the first Stripe customer to integrate the bitcoin payment option.

Stripe co-founder and CEO Patrick Collison said the decision to build an integration for bitcoin payments is more about the company’s mission to increase the amount of commerce transacted online than it is a bet that bitcoin will be a crucial payment method years from now.

“We acknowledge that bitcoin is important today … it may or may not be important in five years,” he said. “No matter what happens,” he added, “multiple payment instruments will be important.”

To that end, Collison said Stripe is also currently building support for ACH, which allows businesses to automatically collect payments from a customer’s bank account. And last month, Stripe said its customers could start accepting payments in 135 new currencies.

Collison said his company has had a “positive disposition to bitcoin” because it is solving “the problems we care about.”…. Read more

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