According to the announcement by BitPay, the company is going to allow brick-and-mortar businesses to use Bitcoin Cash for payments. As the company already supports Bitcoin, the customers will have the opportunity to use both BTC and BCH cryptocurrencies when paying for services.
Retail businesses have been using BitPay Checkout service since 2014. Now the network has expanded to multiple cities around the world, including Toronto, Madeira Beach, and Paris. As the interest in crypto payments grows, Bitpay is working on giving its customers more flexibility, so adding BCH support was a logical step, especially taking into the account the coin’s recent staggering growth.
The process of paying with cryptocurrency using BitPay is really simple: the customer scans BitPay Checkout QR code from a screen of a mobile, and the retailer gets receive local currency bank transfer the next day.
BitPay also claims that the new update will feature an improved Payment Protocol as well as tools designed to “minimize the impact of cryptocurrencies price volatility” for investors. The BitPay’s processing fee is only 1%.
BCH is growing very rapidly, which triggered accusations of artificial price inflation. According to these allegations, a large mining group regularly burns a certain amount of coins, which boosts the market of the crypto assets. Other experts deny such possibility.