Nothing is more important to BitPay than the health and well-being of our customers, employees, and the communities we serve.That’s why we want to let you know what we’re doing to ensure that we can continue to assist our customers and maintain uninterrupted operations.Our Responsibility to Our …
This week, we partnered with Poynt, the world’s first open commerce platform, to integrate our cryptocurrency payment processing with their Smart Terminal point-of-sale devices at over 100,000 retailers across the globe.
By just scanning a QR code at checkout, consumers can now pay merchants using Poynt’s devices with the currency of their choice, including Bitcoin, Bitcoin Cash, Ethereum, XRP, and the three stablecoins BitPay currently supports. Our integration with Poynt’s smart terminals makes the checkout experience quicker, easier and more secure than using credit cards or cash.
BitPay CEO and Co-Founder Stephen Pair said:
We’re thrilled to team up with Poynt, who’s proven to be a real driver of point of sale innovation. It’s a massive growth opportunity for BitPay, and an important milestone in our now nine-year mission to make payments faster, more secure, and less expensive for people and businesses.
Poynt Founder and CEO Osama Bedier said:
Poynt was built on the idea of open commerce. Poynt OS lays the foundation for developers and merchants to collaborate and drive limitless growth. The addition of open-source, decentralized currencies like Bitcoin is a natural fit in our open-commerce environment. BitPay pioneered blockchain payments, and, without question, they were the company we trusted to bring us into the next generation of payments.
Source: The BitPay Blog
Users will soon be able to pay all BitPay invoices from any cryptocurrency wallet or exchange. We will begin a phased roll out starting February 4th.
The decision, driven by merchant feedback, puts merchants back in control of which wallets, apps, or exchanges they’ll accept payments from. It also empowers consumers to use any wallet, app, or exchange to pay their favorite merchant. Furthermore, participating does not require any technical development or implementation.
What to Expect
P2P or peer-to-peer payments will likely increase your sales and enable you access to broader customer base of crypto holders. With increased volume and sales, from time to time, you may see payment exceptions including over, under, or late payments:
- Underpayments: Your customer does not include enough cryptocurrency
- Overpayments: Your customer includes more than enough cryptocurency
- Late Payments: Your customer sends Bitcoin to an expired invoice or to the wrong address. The order will need manual approval from the merchant.
If your customer underpays an invoice, they will automatically receive an email containing information on how to start the refund process.
If they overpay an invoice, the overpaid portion will be sent back to your customer and the invoice total will be credited to your ledger.
For help with late payments and any other non-automated payment error, please reference our guide How do I view, refund, and manage payments? when using your Merchant Dashboard.
Message for Your Customers
To assist your support team, we’ve created a message for you to send to customers. Simply add your company name at the bottom.
We’re excited to now accept P2P cryptocurrency payments from any wallet, application or exchange through BitPay.
To now make a payment, select your wallet or exchange and make sure to follow any payment tips BitPay provides. Then scan the QR code or click the QR code to copy the amount due and the address you’re sending to. Paste the amount and address into your wallet, app or exchange and make your payment.
Before submitting the payment, make sure to enter your real email address. If you accidentally send too much or too little crypto, BitPay will use this email to begin the refund process.
(Your Company Name Here)
Source: The BitPay Blog
On February 4th, 2020, BitPay will begin rolling out a new payment flow on our platform that supports P2P or peer-to-peer payments. This new flow will let you use whichever wallet, application, or exchange you want to pay a BitPay merchant.
- Select a wallet or service to pay from.
2. Provide your email address in case of payment issues.
3. Select the cryptocurrency you want to pay with.
4. Scan the QR or paste payment URL in any Payment Protocol compatible wallet. If using a non-Payment Protocol wallet, copy the cryptocurrency address and the amount due.
Allowing P2P payments increases the chance of payment issues. Without using a Payment Protocol compatible wallet, the following issues may occur:
This occurs when you do not include enough cryptocurrency. If you underpay an invoice, you will automatically receive an email containing information on how to start the refund process.
This occurs when you include more than enough cryptocurency. If you overpay an invoice, we will send the overpaid portion back to you and the invoice total will be credited to the merchant.
Please note: Underpaid or Overpaid invoices only occur when making payments with BTC, BCH, or XRP. They do not apply to ETH and stablecoin payments.
This occurs when you send cryptocurrency to an expired invoice or to the wrong address. The merchant will need to manually approve the order.
BitPay’s invoices only accept one payment per invoice. You cannot send a second payment to an invoice. Any duplicate payments must be refunded.
For both late payments and duplicate payments, your fastest way to resolve this issue and receive a refund is to contact us directly via our support form.
Source: The BitPay Blog