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Payza Provides Extensive Integration With Bitcoins

Updated on February 1, 2018
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Recently, leading payment processing platform Payza announced a wide range of Bitcoin services. This move comes at the heel of other announcements from Payza regarding extended support for domestic payment methods in different countries. Payza members can now very easily extend their local payment processing options to leverage Payza services and transfer funds online. Payza supports Interac deposits in Canada, Oxxo in Mexico, Local funds withdrawal option in India and Boleto in Brazil. Payza was recently awarded the European MPE award for its online payment solution as a recognition of its contribution to the payment ecosystem.

The Payza announcement regarding extended Bitcoin services is significant due to the fact Bitcoins have been gaining increasing prominence in the online world. More and more merchants now support payments in this currency. The digital currency is currently trading at a rate of 2148 Pounds per coin. This is a significant gain over previous rates and has attracted a lot of interest from investors and market watchers. With this announcement, Payza has become the first e-wallet provider ‘to treat Bitcoins like any other fiat currency’. Now Payza merchants can store Bitcoins in their accounts instead of having to convert them into a fiat currency. Members can buy Bitcoins with the money in their Payza accounts. These Bitcoins will be automatically changed to USD at a competitive exchange rate which is updated in real time. Payza wallets have also been upgraded which means they can now hold regular currency as well as Bitcoins. Members can easily convert funds into Bitcoins and vice versa and they can also hold Bitcoins alongside fiat currency within the Payza e-wallet.

Users can buy, sell and store their Bitcoins on the Payza platform. In order to buy Bitcoins, users can avail the Payza Bitcoins Withdrawals feature. Depending on the country, a Bitcoin withdrawal request typically gets processed within one to three days. Members have the option to directly withdraw funds from their Payza e-wallets into third-party Bitcoin wallets or as stated earlier directly hold them in their Payza e-wallets. This makes handling fiat currencies and Bitcoins really simple. The user can also sell their Bitcoins using the Payza Bitcoin Deposit feature. Once users confirm a transaction to sell their Bitcoins, the funds are deposited instantly in their accounts as soon as the transaction is processed. The fees for the processing of Bitcoins is lower than fees for other payment options. This makes Bitcoins a very attractive option for online commerce.

Payza has also launched Bitcoin options for merchants to accept Bitcoin payments. These digital payments can be immediately converted and settled in USD if the merchants so require. Customers can now easily pay in Bitcoins and if the merchants do not have the option to store Bitcoins then they can automatically convert to fiat currency. Merchants also have the option to set prices directly in Bitcoins without setting the price in their traditional currency. This means that Bitcoins are really becoming mainstream and are now being treated just like any other currency.

Image Courtesy: Coinsutra.com
Image Courtesy: Coinsutra.com

Newcomers to digital currencies should note that Bitcoins transactions are irreversible. All payments made in Bitcoins through the Payza payment platform are also serviced by the Payza Resolution Center. So in case of any disputes regarding Bitcoin payments between buyers and sellers, users can approach the resolution center for a quick consensus.

These recent developments have shown that Payza is thinking ahead of its competitors and is ready to invest its resources in developing features and services that are attuned to market trends and demands from consumers. Other payment platforms will need to ramp up their services as well in order to keep up with the growing popularity of digital currencies. The same applies to governments and regulators who are still trying to figure out the best ways to keep a check on decentralized digital currencies.

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