Bitcoin could be accepted over Facebook, Uber and Spotify in Adyen/BitPay partnership
Tue 3 Feb 2015
Adyen, the online payments service used by top online merchants such as Facebook, Uber, Airbnb and Spotify, has today added a bitcoin option as payment method, in collaboration with BitPay.
The Netherlands-based startup, valued at $1.5bn (approx. £993mn), lists over 3,500 international e-retailers, including four of the five leading tech firms in the US. Adyen processed $25bn in payments last year, and last month raised a total of $250mn in Series B funding.
“It’s such a great partnership,” said Sonny Singh, CCO of BitPay. “Adyen’s focus on e-commerce is perfect for bitcoin. It means firms don’t need to overcome the integration issues with bitcoin as it will now be already included in their existing infrastructure.”
Jagex, a UK-based games developer, will be the first company to accept the cryptocurrency payments over the Adyen platform. It has been reported that a US company is likely to follow Jagex in introducing the Adyen/BitPay integration over the next few months.
“Interest in bitcoin continues to grow among merchants,” said Roelant Prins, CCO at Adyen. “As a business focussed on merchant needs, we are excited to give merchants the ability to securely accept bitcoin payments, alongside over 250 payment methods and 187 transaction currencies that we currently offer,” he added.
Bitpay already supports secure bitcoin transactions for a number of leading firms including Microsoft, WordPress, and Virgin Galactic.
According to BitPay, over 100,000 global e-retailers accept bitcoin payments, with around 53 per cent using the BitPay platform.
“Merchants choosing Adyen and BitPay will receive all the advantages of working with a stable, scalable payments platform, where bitcoin is seamlessly integrated into the Adyen payments flow, reporting, and settlement,” explained Tony Gallippi, BitPay co-founder and executive chairman.
He concluded: “Adyen is a great company and a strong partner to help expand bitcoin adoption worldwide.”