29 Jul '13, 2pm

Bitcoin debit card iBTCard will offer lower processing fees for merchants

Bitcoin debit card iBTCard will offer lower processing fees for merchants

A new way to pay by bitcoin is on the horizon, a bitcoin debit card called iBTCard . That name stands for International Bitcoin Transfer Card. The company behind the project, Tradecoinz LLC, is hoping to provide an alternative payment method to VISA and MasterCard, but in a way that most people can recognise and understand. We spoke to the founder and CEO of Tradecoinz, Cameron Halter , who told us that iBTCard will register with FinCEN as a money services business (MSB). He also stated that there will be policies in place to prevent theft and money laundering. One of those methods is a numerical one-time password (OTP) embedded on the card itself. Halter is looking to undercut the incumbents of the payment card world (i.e. MasterCard and VISA) by offering lower fees for merchants – between 0.5% and 1.25%. In addition to lower fees, Halter said that iBTCard will control th...

Full article: http://www.coindesk.com/bitcoin-debit-card-ibtcard-will-o...

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