The Era of Cryptocurrency Payments Arrives: Bitopro Collaborates with BNC Pay to Launch “BitoPay”
Over the past year, several exchanges in Taiwan have introduced cryptocurrency payment services and partnered with merchants, allowing cryptocurrencies to be used not only for investment but also for everyday consumption and payments.
Bitopro Group, one of Taiwan’s largest exchanges, has now unveiled the highlights of “BitoPay” today. BitoPay is a cryptocurrency payment tool launched by Bitopro in collaboration with payment brand BNC Pay, enabling consumers to easily use cryptocurrencies for consumption and payments, while also seamlessly integrating merchants into the cryptocurrency market.
Merchants who have partnered with BNC Pay can now use the BitoPay service, and these partnerships will continue to expand, increasing support for local stores that accept cryptocurrency payments. Consumers simply need to scan the merchant’s QR code using the Bitopro app to initiate the payment process.
Consumers can choose from three mainstream cryptocurrencies for payment, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). After entering the SMS verification code, a “Transaction Successful” page appears, completing the cryptocurrency payment process. Consumers can also view past transaction details on the BitoPro website or app.
Based on our firsthand experience, the overall payment process of BitoPay is simple and fast, providing consumers with a user experience similar to current mobile payment methods. For partnering merchants, the platform will directly remit New Taiwan Dollars to them based on each transaction order, avoiding the inconvenience and exchange rate risks associated with receiving cryptocurrencies. This ensures convenience and diversity in transactions while providing merchants with an opportunity to engage in the cryptocurrency market.
Zheng Guang-tai, the founder of Bitopro Group, stated that the greatest significance of this collaboration is to gradually enable users to accept this concept. “Just like when AI emerged, we didn’t really know how quickly it would come. But once OpenAI was introduced, it quickly gained popularity. We can no longer afford to slowly contemplate it as we did in the past, so we must plan ahead.”
️Further reading:
Bitopro’s registration volume increases tenfold! How did an 11-second short video trigger a historic peak in “point-to-coin” exchange?
Temporary exemption of merchant transaction fees
In order to embrace the benefits of cryptocurrency and target stores with high consumer purchasing power, businesses can now activate BitoPay in the BNC Pay member area. Once approved, they can quickly enable cryptocurrency payment functionality and take advantage of the official promotion of exempting merchants from BitoPay transaction fees.
In other words, from now until July 31,
transaction fees for orders completed using BitoPay during this period will be waived,
providing merchants and consumers with more diverse payment options and promoting the application and convenience of cryptocurrencies in the Taiwanese market. After the free period ends, merchants will resume paying a 2% transaction fee.
Bitopro has observed an increasing demand for cryptocurrency payment among users recently. The second phase of the BitoPay service is already in preparation and is expected to be open later this year, allowing for payments with different currencies, including Bitopro Coin (BITO Coin).