Payza Becomes First Payment Network to Include Bitcoin Within its eWallet

May 15, 2017         By: Mike Dautner

Payza, an award-winning global payment platform, recently announced that it has become the first eWallet provider to treat Bitcoin like any fiat currency.

Members can now hold their bitcoins directly in their Payza eWallets, no longer needing a separate Bitcoin Wallet to perform Bitcoin exchanges to or from fiat currencies.

In addition, Payza members can now instantly send and receive Bitcoin to and from other Payza members. The fee to receive Bitcoin is just 1.2 percent per transaction, which is lower than the standard Payza receiving fee of 2.9 percent plus 30 cents.

Merchants that choose to use Payza to process online payments will also have the option to receive Bitcoin as payment for their products.

Before this, all payments made by Bitcoin were automatically converted to fiat currency.

As a result of today’s announcement, merchants will have the option to retain those payments in Bitcoin in their eWallets until they choose to convert the funds themselves.

“We were among the first online payment platforms and eWallet providers to embrace Bitcoin back in 2014,” says Firoz Patel, Payza’s global executive vice president. “Even then we recognized the important role Bitcoin was set to play in eCommerce. The ultimate goal was to provide our members a secure option to store their bitcoins in their Payza accounts. So we mapped out a set of incremental steps to accomplish that goal. Today, we fulfill our promise to our members and are now able to treat Bitcoin like any other currency we deal with. This means that every Payza member can now hold Bitcoin in their eWallets, and send and receive Bitcoin throughout our network, just like they would with USD, Euros or Sterling.”

“We’re very excited about these new features because it positions Payza as one of the best options for Bitcoin neophytes who are ready to experiment with cryptocurrencies,” explains Patel. “We wanted to provide a worry-free way for our members to exchange and hold Bitcoin. We feel that the services announced today are perfect for people who are interested in Bitcoin, but are intimidated by the security risks and technical knowledge seemingly required to use them.”