Today we're happy to announce that BitPay merchants can now accept payments in Bitcoin Cash (BCH). It's now easy for BitPay merchants to do business with a growing, passionate community of Bitcoin Cash users and accept a currency with a market cap of more than $15 billion.
Adding support for Bitcoin Cash is another important step in our vision for blockchain payments. BitPay merchants can already immediately accept Bitcoin (BTC) from users around the world. By adding functionality for a new payments blockchain like Bitcoin Cash (BCH), we're expanding the reach and scale of our merchants' BitPay checkout experiences.
Bitcoin Cash will give BitPay merchants another great way to receive blockchain payments from customers around the world, without the risk of credit card fraud or chargebacks. A fork of the Bitcoin (BTC) network and codebase, Bitcoin Cash (BCH) offers the same security, speed, and cost benefits of Bitcoin (BTC) for payments. And with our platform, merchants can accept payments for both blockchains and get direct bank deposits the next business day with just a 1% transaction fee.
And since Bitcoin Cash costs only pennies (or less) for customers to send, it's great for BitPay merchants who want to accept blockchain micro-transactions for things like video games, food delivery, or app downloads.
When our merchant's customers choose to check out with BitPay, they'll now see the option to pay with Bitcoin (BTC) or Bitcoin Cash (BCH). They can make a selection and continue to payment with the currency type that works best for them.
BitPay's Modal Invoice Example
BitPay's i-Frame Invoice Example
We are continuing our work to make great blockchain payment experiences for businesses and their Bitcoin customers. Now we're excited to continue building a great payment processing platform for Bitcoin Cash also.
For our next steps, we are working to enable settlements in Bitcoin Cash, giving our merchants another way to get paid for payments accepted via BitPay. We will also bring Bitcoin Cash to our mass payouts product which businesses can use to pay out vendors, affiliates, developers, and other payees worldwide.
Our team has put in a lot of work to make it possible for BitPay merchants to accept Bitcoin Cash. We look forward to your feedback as we continue to release improvements to this new feature. Now go try it out!