Kvě 23

Rumors Regarding Overstock.com no Longer Accepting Bitcoin Are False

Source: bitcoin


There are rumors floating around on the Internet stating how Overstock.com would no longer be accepting Bitcoin payments. That is not the case, as the payment method is still listed on their checkout page. Judd Bagley of Overstock has also confirmed the company will keep accepting Bitcoin payments.

Also read: Ether to Blame for Bitcoin’s Decline?

No Reason To Panic For Overstock.com Users

The confusion started becoming more apparent when one Reddit user posted a screenshot of a chat conversation with one of the Overstock.com representatives. However, this conversation was “from a friend”, and evidence like that always has to be taken with several pinches of salt. As you can see in the discussion below, the representative mentioned how Bitcoin is no longer an accepted payment method.

This caused quite a bit of consternation among Bitcoin enthusiasts on Reddit, although these claims were deemed invalid when someone pointed out how Bitcoin is still on the checkout page. After a different company representative had checked with the marketing supervisor, it turned out Bitcoin is still accepted, but the company removed their rewards pay option.

Some users may have experienced issues when trying to complete a Bitcoin purchase on Overstock.com, which may return an error regarding an invalid certificate. However, this doesn’t seem to be a problem on the end of the company, but rather an unknown issue with their payment processor, which is Coinbase.

Although this shows how not all of the Overstock.com support agents are informed about the Bitcoin situation, the important thing is that cryptocurrency payments are still possible. There may be some training left to do in regards to customer support staff and the payment methods Overstock.com is accepting, though, but that is a topic for a different discussion.

Judd Bagley, the Communications Director of Overstock.com, was notified of this confusion on Reddit and weighed in on the current bitcoin situation. He stated how “Bitcoin remains in our DNA, and on our checkout page”, which puts all of the speculation to rest. He later on confirmed that statement on Twitter.

What are your thoughts on this story? Was the Bitcoin transaction issue a problem due to a Coinbase SSL bug? Let us know in the comments below!

Source: Reddit

Images courtesy of Overstock.com, Shutterstock

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Rumors Regarding Overstock.com no Longer Accepting Bitcoin Are False

Bře 31

Cashila Announces Convenient Buy and Sell Feature For Ethereum

Source: bitcoin

Bitcoinist_Digital Currency

There seems to be no love lost between central banks and companies active in the world of Bitcoin and blockchain technology. But at the same time, Cashila is the world’s first Bitcoin payment processor with a license by a Central Bank, showing there is a way to bridge the gap between both sides of the financial sector. The new service offered by this company lets users buy, sell, and store Ethereum in a quick and convenient way.  

Also read: Wheel of Doge Allows Players to Use Any Coin Through ShapeShift

Cashila Ventures Into The Ethereum World

It is not uncommon to see existing Bitcoin platforms explore the Ethereum side of things as well since there is a lot of revenue to be made from doing so. Various Bitcoin exchanges offer consumers a way to easily buy and sell Ether, the token of the Ethereum protocol. Kraken, Bitfinex, Coincheck, and Korbit are just a few of the platforms to have done so in the past year.

But when it comes to payment processors, there does not seem to be any indication of them looking to embrace Ethereum soon. Cashila is the first one to do, and they have big plans for expanding their service in the next few weeks. Right now, the company is best-known for enabling users to make daily payments – or direct wire transfers – to anyone in the European Union by using Bitcoin. Moreover, users can receive Bitcoin or payments denominated in EUR to their online Cashila wallet.

But ever since the Ethereum developers released Homestead, there has been growing internal talk about the addition of Ether to the Cashila platform. Although it remains unclear whether or not this new service will be a standalone platform or just a part of the current services, the plan is to let Cashila users exchange between EUR and Ether on-the-go. In return, this should bring additional liquidity to both markets.

Cashila Co-founder Jani Valjavec stated:

“Buying Ether is currently too hard for an average person. That’s why we’re building the easiest possible way for one to buy and securely store Ether.”

To make the process of buying and selling Ethereum a lot more convenient for users, the company has been actively developing a new unnamed service. Although the name remains unknown for now, we do know the new service will let users buy and sell Ether with just one click, at a fixed price.

Additionally, the new service will support both the ETH and EUR wallet, allowing for quick conversions between both types of currency. Last but not least, it will be possible for EU customers to deposit and withdraw funds through SEPA, assuming one live sin any of the countries supporting this payment method.

Low Costs And No Verification Needed

One of the biggest drawbacks for novice users is how they have to go through a thorough verification procedure before being able to buy Ethereum on most exchanges. Cashila is taking a different approach, as users will not need to provide any documentation to verify their identity. However, there will be an EUR 1,000 trading limit in place, which can be lifted by submitting the necessary documents.

Most convenient exchange solutions charge – sometimes rather high – fees for that particular service, but Cashila wants to keep the costs a slow as possible. Based on the information we have received, there will be a 1% fee applied to trades, and conversions to SEPA can be done any working day. Moreover, storing ETH can be done through the secure online wallet, which will support 2FA for all the key actions.

What are your thoughts on this new service announcement by Cashila? Are you looking forward to giving it a try? Let us know in the comments below!

Source: Press Release Via Email

Images courtesy of Cashila, Ethereum, Shutterstock

The post Cashila Announces Convenient Buy and Sell Feature For Ethereum appeared first on Bitcoinist.net.

Cashila Announces Convenient Buy and Sell Feature For Ethereum

Led 14

Adyen Can Bring Bitcoin To Major Businesses Like Netflix And Uber

Source: bitcoin

Adyen Can Bring Bitcoin To Major Businesses Like Netflix And Uber

In the world of finance, there is no shortage of companies willing to process payments on behalf of businesses. Adyen is one of the most-valued European payment processing companies in the world today, and they have recently announced new partnerships with Netflix, Easyjet, and others. What makes this news even more interesting is how Adyen partnered with BitPay last year to work with Bitcoin payments as well.

Also read: A Payment Processor’s Perspective: Interview with Moneris

Adyen Announces New Partnerships And Major Growth

With so many companies to compete with in the payment processing scene today, it is hard to stand out from the rest. Adyen is one of the companies managing to make a new for itself despite fierce competition. In fact, the Dutch company reported a revenue of US$350m throughout 2015, which is more than twice the amount generated during 2014.

In a surprising turn of events, the revenue increase is mostly attributed to the list of existing merchants relying on Adyen to process payments. A lot of these companies have been able to increase their overall sales, which is a good sign for online commerce as a whole. But the good news didn’t end there, as Adyen announced several new strategic partnerships.

Among the list of new partners are popular brands such as Netflix, Easyjet, and Burton. Considering how companies such as Uber, Spotify, and Facebook have been using Ayden’s services for quite some time now, the future’s looking very bright for this European startup.

However, there are some things that could prove to be a worry for Adyen in the future. According to founder Pieter van der Does, 10 percent of the merchants using Adyen’s services generate close to 90 percent of the company’s total revenue. While these numbers are not uncommon in the payment processing industry, the newly signed partners will hopefully help even the playing field in the future.

What sets Adyen apart from any other payment processor is how the company lets merchants take payments without going through banks. As a result, this creates a global payment ecosystem that works for customers all over the world. This also opens up a lot of opportunities in the mobile space, which represents close to half of the company’s transactions.

Bringing Bitcoin To Merchants All Over The World

Very few people are aware of Ayden also accepting Bitcoin as a form of payment. During the summer or last year, the Dutch startup partnered with BitPay to bring Bitcoin payments to merchants around the globe. Or to be more precise, any of their clients would be able to accept Bitcoin payments in a heartbeat if they want to do so.

Now that Adyen has partnered with Netflix – who have hinted at a potential integration of Bitcoin payments in the future – the rumours are becoming more persistent. Even companies like Uber, Facebook, and Easyjet could start accepting Bitcoin payments as soon as tomorrow. Consumer demand will force their hand in that regard, and once enough customers ask for Bitcoin payments, companies will have no choice but to accept digital currency payments.

What are your thoughts on the progress made by Adyen so far? Will they help bring Bitcoin payment integration to more prominent retailers? Let us know in the comments below!

Source: Telegraph UK

Images courtesy of Adyen, Shutterstock

The post Adyen Can Bring Bitcoin To Major Businesses Like Netflix And Uber appeared first on Bitcoinist.net.

Adyen Can Bring Bitcoin To Major Businesses Like Netflix And Uber

Led 14

A Payment Processor’s Perspective: Interview with Moneris

Source: bitcoin


Bitcoin is evolving rapidly on a global scale as one of most important financial technologies of the century. Many businesses have decided to integrate Bitcoin, yet many continue to not accept it. I have covered the issue of Bitcoin adoption in-depth in my Bitcoin in Business series. I had the opportunity to interview Moneris chief product and marketing officer Rob Cameron regarding Moneris, their opinion on Bitcoin, and how blockchain technology will influence the financial sector.

Also read: Coinprism Releases OpenChain 0.5 With Various Improvements

Moneris is one of North America’s largest provider of payment processing solutions and allows merchants to accept multiple methods of payments both physically and online. Currently, Moneris provides payment solutions to more than 350,000 merchant locations and provides hardware, software, and the systems needed in order to successfully manage business operations. I interviewed Mr. Cameron to find out more about Moneris and how Bitcoin is affecting their operations.


How is Moneris different than other payment processors?

Mr. Rob Cameron of Moneris

We are a pioneer in EMV-chip and PIN/signature implementation with over a decade of experience.  We invest heavily in ongoing research and development  in payment innovation.  An example of this is Moneris was the first company to launch a mobile point of sale (mPOS) solution that accepts chip and PIN/signature debit and credit card payments in North America.  Previously there were only magnetic stripe based options.   

We are also putting our experience to work.  As the first processor to integrate EMV technology in Canada, we gained a wealth of knowledge on the implementation process, which helps to set us apart in the U.S. market especially following the October 2015 EMV liability shift. With the key learnings we gained from the EMV-rollout in Canada, we have created educational materials to inform our current and potential U.S. partners and business merchants, helping them to make a seamless transition to EMV-enabled solutions.

Going forward, what innovations and new products/services does Moneris plan to offer merchants?

We always look for opportunities to expand our product and service offerings and will continue to seek out business partners to collaborate with, providing our merchants innovative and value-add solutions for their business.

We will maintain a focus in offering mobile point-of-sale solutions (mPOS), in particular smartphone and tablet based systems that are EMV-chip and PIN/signature ready. Industry trends show that 46 percent of the overall POS systems in market today are mPOS devices and new customers boarding with Moneris are following this trend, electing to use our mobile options. Mobile is the way of the future and we will continue to invest in technology innovation for this space.

Our merchants value the flexibility that our integrated solutions offer as well. We develop payments hardware and software that can be integrated into their pre-existing business management solutions. These solutions are customizable for the needs of the merchant.  

Does Moneris currently or plan to offer Bitcoin support to merchants in the near future?

We see Blockchain as having tremendous potential in enabling innovation in financial services and spend time considering the implications.  We are one of the founders of the  Fintech cluster in Canada at MaRS where we have exposure to many innovative companies.  In terms of Bitcoin specifically, we have evaluated various options of providing this capability to our merchants.  Based on demand we will introduce this capability to the market.

In your opinion, how important will blockchain technology be for the financial industry?

Blockchain has the potential to revolutionize the financial industry.  Participants in the financial ecosystem constantly look to improve security, reduce settlement times and increase service levels in an increasingly global market.   Blockchain offers the promise of delivering all of this and more at a fraction of current costs thanks to its distributed ledger architecture.  With so many of the top financial services firms along with innovative startup firms working on various implementations towards solving these real issues, we should expect to start seeing results at scale soon.    

Does Moneris offer flexible plans and services to provide solutions to both small and large merchants?

Moneris offers scalable solutions to suit the needs of businesses of all sizes. From standalone and integrated retail POS devices, to unattended payment technologies, to a complete line of mPOS solutions and online payment processing platforms. We have competitive product and service offerings for merchants of any size in all industry verticals.  We also believe in partnering for success and work with smaller firms all the way up to industry leaders like Apple as one of their Mobility Partners to deliver what’s best of the merchant and the end consumer.


It is very clear that Moneris believes in the potential of Blockchain technology as well as the practical applications of the blockchain and the many projects that will come in the near future as a result of the technology. Payment processors such as Moneris will be very important in driving business adoption of Bitcoin as a whole as well as empowering consumers to take control of greater financial freedom.

You can learn more about Moneris right here.

What do you think about Moneris and their views on Bitcoin? Let us know in the comments below!

Images courtesy of Pixabay and Moneris


The post A Payment Processor’s Perspective: Interview with Moneris appeared first on Bitcoinist.net.

A Payment Processor’s Perspective: Interview with Moneris