Bitcoin Payment Guide

“Credit cards were designed in 1949 for restaurants,

bitcoin is designed for the internet.”

Bitcoin is a currency and payment method that is unique within the payment space. Bitcoin

is designed for the internet from the ground up, making it the future of payments. Consumers

and merchants expect global services to be instantly delivered, bitcoin offers the payment

innovation that makes this possible.

The Global Bitcoin Economy:

9 MILLION Active bitcoin wallets
140,000 Merchants

BitPay is the world’s largest bitcoin payment provider

74,200 MERCHANTS are accepting bitcoin with BitPay
Registered as a Financial Institution with FinCEN

November 2015
THE BITCOIN MARKET
The global bitcoin market is growing with over 100% each year, with currently 9 million active bitcoin wallets
and 140.000 merchants connected. Bitcoin payments are global and currently most usage is seen in the
United states and Europe, while emerging markets are coming up fast. Examples of markets were the
traction has been the highest are gaming, travel, food delivery, consumers electronics and gift cards.

MARKET SPREAD - MARCH 2015

55%
35%
4%

6%

In November 2015,

140,000
merchants accepted
Bitcoin.

Of those, 53% accepted

BITCOIN with BitPay.

PROCESSED
BY BITPAY
21,885 - 4%
Ga m i n g

Transactions via 49,243 - 9%

Gi f t C a rd s

by industry in 2015
82,071 - 15%
e-Wallets
120,371 - 22%
IT ser vices

BITCOIN PAYMENT GUIDE | 2

ABOUT BITPAY

BitPay was founded in May 2011 in Atlanta (USA) and is registered as a Financial Institution in the USA. BitPay

has offices in Atlanta, San Francisco, Buenos Aires and Amsterdam. It is backed by well recognized venture capital

companies like Index Ventures and Richard Branson and raised $30 MM in May 2014.

BitPay is the market leader in bitcoin processing with a market share of 53%. It allows merchants to accept payments

in bitcoin and receive exactly the amount that has been charged, directly to the merchant’s bank account. BitPay

provides bank deposits in 38 countries, settling in USD, EUR, GBP and more.

BitPay delivers specific services for merchants and Payment Service Providers that require guaranteed instant

payments.

BitPay has a strict Customer Due Diligence process. For high risk industries (e.g. gambling or forex) BitPay has

specific tooling in place, for example to check if the funds are originating from an illicit source.v

WHAT DOES A MERCHANT GET?

• Bitcoin payments processed by the market leader.

• Instant consumer payments, for web and in-app payments

• No chargebacks and identity theft

• Avoid any bitcoin volatility risk, charge $1 get $1

• Refund capability in bitcoin

• Payrolling and payouts in bitcoin

• Reliable service, secured by a Financial Institution license

• Capability to handle large processing volumes globally

• Turn key enterprise grade solutions

• Additional revenue, as merchants see new revenue growth of 1 to 5%

Trusted by 72,000+ merchants

BITCOIN PAYMENT GUIDE | 3

HOW DOES A BITCOIN PAYMENT WORK?

Send
Account Account Account
1ERwvbYaRm3
Add money to your Microsoft Account
Amount

$10 $15 $25

0.0008 btc
$50 $75 $100
1.00 USD
Payment Options

Bitcoin
SEND
Next Cancel

Merchant price set,

1 BitPay presents bitcoin
amount
2 Scan QR-code, with
ANY bitcoin wallet 3 Payment confirmed

DOWNLOAD
YOUR BITCOIN
WALLET HERE:

INVOICING
• The merchant invoices in his local currency, the customer pays in bitcoin
• Invoice in 40 languages
• Price in 150 currencies

PAYMENT
• The customer pays using his bitcoin wallet on mobile phone, tablet or desktop.
• BitPay is compatible with all bitcoin wallets
• Customer is protected from identity theft, no personal data is send with the transaction

CONFIRMATION
• Merchant is informed within seconds that the bitcoin payment has been received

BITCOIN PAYMENT GUIDE | 4

FINANCIAL SETTLEMENT

Your customer chooses to pay with BitPay instantly converts the bitcoin,
bitcoin during the checkout process. shielding you from any volatility risk.

They pay the BitPay invoice at a locked-in

Get daily deposits into your bank account
exchange rate;
without risk or processing fees.
you get what you charge.

DAILY BANK DEPOSITS

Business and enterprise plans receive daily settlements to merchant’s bank account in 38 countries.

SETTLEMENT REPORTING
Receive ledger and settlement reports via our API and merchant.

REFUNDS
Initiate refunds through a simple API call or via our merchant dashboard.

NO RISK
BitPay instantly converts bitcoin, protecting the merchant from any bitcoin volatility.

INTEGRATION

BitPay has been partnering with more than 40 of the most popular E-commerce platforms and payment service

providers to make reliable, ready-to deploy integrations. Bitcoin payments are global, so there is no need for country

by country integrations.

For custom integration BitPay offers an API, with client SDK’s in 10 languages. Integration effort with BitPay is

comparable with integrating a real-time banking payment method. More information can be found

at bitpay.com/integrations

BITCOIN PAYMENT GUIDE | 5