Bitnet, an enterprise bitcoin payments processor, and PAY.ON, a white label provider global payment gateway solutions, this week formed a partnership that will enable payment service providers globally to offer bitcoin as a payment method via PAY.ON’s RESTful API-based payment platform.
PAY.ON’s clients, ranging from local payment providers to multi-national PSPs servicing the world’s largest retailers, can now enable their merchants to add bitcoin to their checkout pages quickly and easily. Thanks to the Bitnet partnership, PAY.ON’s PSP clients will be able to offer bitcoin payments without exposing their merchants to the risk of fraudulent transactions or volatility in the price of bitcoin.
Bitnet, as a bitcoin payment processor, services both merchant and PSP ecosystems. Founded and staffed by a team of ex-Visa and ex-CyberSource payment professionals, Bitnet allows merchants to set prices in local currency, accept bitcoin payments from consumers, and settle the transaction in the merchant’s currency of choice. Bitnet guarantees payment within seconds with its Instant Approval service, preserving the typical merchant checkout flow that is designed for card acceptance, and therefore simplifying implementation
Markus Rinderer, CEO and Founder at PAY.ON, noted:
PAY.ON and Bitnet have built robust, industry-leading payment processing technology based on the same fundamental principles. Flexibility, scalability, and security are delivered through RESTful APIs, making bitcoin acceptance simple for our network of payment service providers and their merchants. Enabling cross-border e-commerce has always been a core part of PAY.ON’s offering, so we are delighted to be partnering with Bitnet to further strengthen the global payment options available through our platform.
John McDonnell, CEO and Founder at Bitnet, stated:
Our partnership with PAY.ON enables us to achieve scale by enabling bitcoin acceptance for over a hundred PSPs globally. PAY.ON is an innovative technology company that powers payments infrastructure at a global level, and we are excited to be working with their team to bring bitcoin acceptance to their PSP clients around the world.