J Studios/DigitalVision via Getty Images Interchange Settlement May 2024 We Hope Senator Durbin Can Move onto Something Else We have invested in Mastercard and Visa since their IPO’s, in 2006 and 2008 respectively. When both payment companies initially listed, they identified potential legal liabilities stemming from merchant interchange lawsuits. During its IPO roadshow, Visa took…
BTCPay Server, an open-source bitcoin payment processor, is set to premiere a feature documentary titled “My Trust In You Is Broken” at the Bitcoin Film Fest in Warsaw, Poland, on April 19. The documentary, directed by Parker Worthington, delves into the beginnings of Bitcoin as a payment system and highlights Nicolas Dorier’s inspiring story in…
The Bitcoin Company has unveiled its new Remittances API, allowing individuals and financial institutions to send instant payments to any bank account in Mexico and Brazil in under 1 second, according to a press release sent to Bitcoin Magazine. This API marks the company’s expansion into international remittances, with plans to extend services to the…
BitPay customers can now utilize the wide array of cryptocurrencies supported to purchase goods and services from renowned merchants like Gucci, Ralph Lauren, and AMC Theatres. Bitcoin (BTC) service provider BitPay has taken a huge step in embracing the broader crypto ecosystem by adding support for numerous cryptocurrencies, including Uniswap (UNI), Chainlink (LINK), Binance Coin…
With X now obtaining payment licenses across a dozen states in the United States, Musk said the app is ready to start its payment services come 2024 at an undisclosed date. Billionaire tech entrepreneur Elon Musk, CEO of Tesla and SpaceX, recently disclosed that his social media platform, X, will launch its in-app payment services…
In addition to crypto payments, WorldPay’s payment channels will also support Alchemy Pay’s NFTs checkout. Cryptocurrency payment gateway Alchemy Pay has forged a strategic partnership with WorldPay to enhance its business offerings. Through this collaboration, the company is set to integrate WorldPay’s Visa Inc (NYSE: V) and Mastercard Inc (NYSE: MA) payment rails into its…
Currently valued at $8.6 billion after its £590 million ($624 million) investment round last year, SumUp stands strong in private markets with no immediate plans for an initial public offering. London-based financial services company SumUp has secured £285 million worth approximately $307 million in its latest funding round to expand its business offerings to other…
While Amazon did not provide the actual reason for not supporting Venmo as a payment option, the notable rise of web3 payment platforms could be a major factor. In October last year, Amazon.com Inc (NASDAQ: AMZN) announced that it would begin to offer Venmo, a product of PayPal Holdings Inc (NASDAQ: PYPL), as a new…
Strike initially rolled out the BTC purchase feature for customers in the United States, allowing only users in the country to buy the crypto asset at no cost. Crypto payment company Strike has expanded its global services, allowing users in 36 countries, including El Salvador, Australia, and some African nations, to purchase Bitcoin (BTC) directly…
Binance cuts ties with Advcash soon after selling its Russian operations to the crypto exchange CommEX. Binance is set to terminate its collaboration with payment provider Advcash, thereby discontinuing ruble-based transactions. This strategic decision aligns with Binance’s ongoing efforts to withdraw from the Russian market. Binance reportedly sent an email to one of its clients,…
One of the fundamental limitations of the Lightning protocol is how payment routing is handled and accomplished. It is entirely source routed, meaning that the sender of a payment is the one who constructs the entire route from themselves to the receiver in order to facilitate the payment. This presents an issue when it comes…
The situation first arose when BitPay posted a tweet stating that Ripple (XRP) could now be used to buy items in games that use BitPay, including Roblox and Smite. Popular gaming platform Roblox found itself at the center of some confusion on Tuesday after a now-deleted tweet from cryptocurrency payment processor BitPay claimed that Ripple’s…
BTCPay Server has come a long way since Nicolas Dorier first decided to build out a software project with the goal of obsoleting the payment processor BitPay in response to their actions during the 2017 Blocksize Wars. It has blossomed since then into one of, if not the, most widely used self-hosted payment processing stack…
Following the successful acquisition, Gilded CTO Ken Gaulter will be joining the engineering team at Bitwave to ensure a smooth transition. Bitwave, a San Francisco-based tech company that focuses on enterprise accounting for the crypto industry, announced a strategic acquisition of Gilded Finance, a leading provider of Web3-focused accounting and financial reporting tools. According to…
Bitcoin only exchange Bull Bitcoin, has announced that it has expanded its services to enable Costa Ricans and foreigners to buy and sell Bitcoin using SINPE Movil, the country’s primary fiat payment system, in partnership with circular BTC economy project Bitcoin Jungle, according to a press release sent to Bitcoin Magazine. This collaboration not only opens…
In a recent appearance on CNBC’s Squawk Box, former PayPal President David Marcus shared his vision for Bitcoin, aiming to transform it into a global payment network. Marcus, who is the CEO of Lightning Network infrastructure company Lightspark, emphasized the importance of expanding Bitcoin’s utility beyond just a store of value. During the interview, Marcus…
The director of Digital Currency Research Institute of the People’s Bank of China said that online platforms have the responsibility to adhere to the regulatory requirements. On Sunday, September 3, Changchun Mu, director of the Digital Currency Research Institute of the People’s Bank of China, emphasized the importance of wallet providers in enabling CBDC payment…
The decision to consolidate these operations coincides with Rakuten’s unveiling its financial performance for the second quarter. Rakuten Group, a prominent player in the Japanese e-commerce sector, has unveiled its plan to bring together its payment and point businesses under Rakuten Card, its established credit card arm. The strategic move aims to improve the company’s…
The new MPI license makes it possible for Blockchain.com to offer regulated digital payment token services to institutions and accredited investors. On August 1, the Monetary Authority of Singapore (MAS), the Singapore Central Bank, granted Blockchain.com a major payment institution (MPI) license. The crypto exchange is now able to provide accredited customers with digital payment…
Securing this license would mean that TikTok would be directly competing with big e-commerce companies like Shopee and Lazada in Southeast Asia. Short video platform TikTok’s parent company ByteDance is recently in the early stages of discussions in order to secure a payment license in Indonesia. This shall further help TikTok to bolster its e-commerce…