bitcoin, digital currencies

RewardsPay Now Accepts Bitcoin Transactions through Coinbase

November 21, 2014         By: Michael Cheng

Coinbase, a secure bitcoin exchange and wallet provider, announced its partnership with RewardsPay earlier this week.

The collaboration would allow individuals to link their Coinbase wallet to a RewardsPay account and make purchases from leading online merchants. Facebook, iTunes and Grooveshark are just a few companies on the list of merchants Coinbase users will soon have access to.

For those who are unfamiliar with RewardsPay, the payment service enables consumers to use points, air miles and credit card points to pay for products. Businesses that partner with the company are usually looking to boost customer loyalty programs by extending their network of merchants.

Anu Shukla, CEO of RewardsPay, said, “Adding support for Bitcoin was one of our most exciting projects to date. Coinbase is an ideal partner due to their bank-level encryption and high security payment processing.”

RewardsPay’s platform is extremely flexible in catering to the needs of its customers. Individuals have the option to split payments between bitcoin and other accepted forms of points or rewards. Furthermore, Coinbase is a well-established bitcoin wallet company in the cryptocurrency space. The platform has a reputation for implementing tight security protocols for safe, consistent transactions.

Analysts say the collaboration is a win-win for both sides. RewardsPay has once again proven its versatility as a payments service. On the other side of the partnership, Coinbase has shown that bitcoin can be used for everyday transactions with mainstream merchants.

Roger Gu, business development manager at Coinbase, said, “This integration is just another step toward a reality in which consumers can purchase anything and everything using the digital currency.”

Leading online businesses that recently started accepting bitcoin include Shopify and Overstock.com. Through the use of mobile payment apps, physical retail stores and shops have also begun to take on digital currency transactions.