Payza, a global payments platform, has fully incorporated the cryptocurrency Bitcoin into its eWallet offering. Merchants using Payza to process online payments will have the option to receive Bitcoin as payment. Previously Bitcoin payments were automatically converted to fiat (government-issued) currencies such as the U.S. dollar or euros. Online merchants also will have the option to set prices directly in Bitcoin rather than a traditional currency.
Payza members can now hold their Bitcoins directly in eWallets, no longer needing a separate wallet to perform Bitcoin exchanges to or from fiat currencies. Payza members also can now send and receive Bitcoin payments with other members at a fee of 1.2% per transaction — lower than the standard Payza receiving fee of 2.9% + $0.30.
All purchases made by Bitcoin through the online payment platform will remain protected by Payza’s Resolution Center — unlike traditional Bitcoin payments, which are irreversible.
“We wanted to provide a worry-free way for our members to exchange and hold Bitcoin,” said Firoz Patel, Global EVP at Payza in a statement. “These services are perfect for people who are interested in the currency but are intimidated by the security risks and technical knowledge seemingly required to use them.”