We’re excited to announce that Blockchain’s 41 million wallets are now compatible with BitPay’s Payment Protocol.
BitPay’s Payment Protocol ensures that customers send the right amount of cryptocurrency quickly enough to pay a business. It acts like the cashier at a retail store when you’re paying with cash. If you accidentally pay too much or too little, the cashier can notice and help you correct the mistake.
Payment Protocol does the same before you pay with cryptocurrency because, once you send it, that cryptocurrency is out of your control and needs to be sent back. During peak congestion, it costs more to get a transaction immediately confirmed. With Payment Protocol, BitPay ensures that transactions are properly formed, including the correct amount and necessary fee for fast confirmation. Other cryptocurrency processors that don’t take these steps can see very high payment error rates and a poor user experience.
In short, Payment Protocol allows for payments with far less hassle and unnecessary refunds which makes for a better payment experience for you or your customers. And with Blockchain Wallet now supporting Payment Protocol, there are potentially millions more shoppers for businesses accepting cryptocurrency.
If you are one of Blockchain’s millions of users, you can now easily shop with BitPay merchants