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22 Jan '13, 2pm

BitPay Surpasses 10,000 Bitcoin Merchant Transactions, Zero Cases of Payment Fraud

ATLANTA--(BUSINESS WIRE )--BitPay , Inc., the world leader in bitcoin payment processing, has successfully processed more than 10,000 bitcoin payments for their merchants. In their first 10,000 transactions, BitPay has experienced exactly zero cases of payment fraud. Not a single payment received has failed to confirm over the bitcoin peer-to-peer network, and reversals are not possible with bitcoin payments. Companies can now ship their merchandise with confidence to any country on Earth. This is a welcome relief for internet merchants who are battling payment fraud every day. “We have a good grasp of all the edge conditions and scalability issues that a typical company would face integrating bitcoin payments, since we’ve done this over 10,000 times” The key benefit that companies are starting to realize with bitcoin is the fraud mitigation. With credit cards, one out of ...

Full article: http://eon.businesswire.com/news/eon/20130122006082/en/Bi...

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