Stripe Bitcoin

San Fransico based payment provider, Stripe has just announced that their users can choose to accept Bitcoin payments starting from January, 2015. Stripe had already launched beta testing of Bitcoin payments back in March, 2014.

Stripe allows online businesses to receive credit card payments through the internet. The company supports payments throughout more than 14 countries and is utilized by many major online businesses including Shopify, Lyft and Task Rabbit to process payments.

Stripe announced that users currently using their API can easily accept Bitcoin payments. Coders can turn on Bitcoin payments in either “live mode” (real Bitcoin transactions and addresses) or “test mode” which involves receiving 3 fake Bitcoins from Stripe to test the service. The consumer interface is expected to look similar to other online Bitcoin paying mechanisms.

In response to this move, Stripe is expected to evolve into a major player in the world of Bitcoin payment processors. Braintree, a Paypal subsidiary and one of Stripe’s competitors, has partnered with Coinbase to implement Bitcoin payments in September, 2014.

Stripe is considered a Bitcoin friendly business and is continuously working to increase payment options available to its users. Greg Brockman, the CEO of Stripe, has pointed out in a number of his public speeches the potential of Bitcoin and how it could unbundle the present financial system into interconnected layers ruled by independent companies. He also believes that simplifying transactions is pivotal when it comes to popularizing cryptocurrencies, especially Bitcoin.

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