Bitcoin payments processor, BitPay relos HQ to Atlanta and plans software center
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Bitcoin payment processor BitPay will relocate its headquarters to Atlanta, where it will open a software development center.
Bitcoin is a digital currency that is the most widely used alternative currency. All bitcoins converted at the current market price would be worth more than $100 million, according to Wikipedia.
Orlando-based BitPay has developed a suite of software tools that allow businesses to collect payments over the bitcoin peer-to-peer payment network.
BitPay, an automated payment processing system for the bitcoin currency, enables online merchants to accept bitcoins, as a form of payment, just as easily they accept payments from credit cards, debit cards, or Paypal.
BitPay, which has raised $510,000 in seed funding, decided to relocate to Atlanta — drawn by the region's cluster of fintech companies.
Georgia is home to more than 90 fintech companies, according to the Technology Association of Georgia (TAG).
Four of the top 20 American Banker FinTech 100 companies are headquartered in Georgia:NCR Corp, First Data, Total System Services Inc. (TSYS) and Equifax Inc.
Metro Atlanta, with its inexpensive tech talent and available real estate, is attracting a number of corporate software development operations....
...Over the past year, BitPay has seen transaction volume accelerating with average quarter-to-quarter growth of 50 percent over the past four quarters. The total dollar value of all orders processed by BitPay in 2012 is over $3 million, and all orders were paid using bitcoin.
“Identity theft affects 10 million victims per year, and payment fraud totals over $100 billion per year,” states Anthony Gallippi, co-founder and CEO of BitPay. “Bitcoin is an enabling technology, it is a global peer-to-peer payment network that will solve these problems.”
Bitcoin is a digital currency that is the most widely used alternative currency. All bitcoins converted at the current market price would be worth more than $100 million, according to Wikipedia.
Orlando-based BitPay has developed a suite of software tools that allow businesses to collect payments over the bitcoin peer-to-peer payment network.
BitPay, an automated payment processing system for the bitcoin currency, enables online merchants to accept bitcoins, as a form of payment, just as easily they accept payments from credit cards, debit cards, or Paypal.
BitPay, which has raised $510,000 in seed funding, decided to relocate to Atlanta — drawn by the region's cluster of fintech companies.
Georgia is home to more than 90 fintech companies, according to the Technology Association of Georgia (TAG).
Four of the top 20 American Banker FinTech 100 companies are headquartered in Georgia:NCR Corp, First Data, Total System Services Inc. (TSYS) and Equifax Inc.
Metro Atlanta, with its inexpensive tech talent and available real estate, is attracting a number of corporate software development operations....
...Over the past year, BitPay has seen transaction volume accelerating with average quarter-to-quarter growth of 50 percent over the past four quarters. The total dollar value of all orders processed by BitPay in 2012 is over $3 million, and all orders were paid using bitcoin.
“Identity theft affects 10 million victims per year, and payment fraud totals over $100 billion per year,” states Anthony Gallippi, co-founder and CEO of BitPay. “Bitcoin is an enabling technology, it is a global peer-to-peer payment network that will solve these problems.”
Source: http://www.bizjournals.com/atlanta/blog/atlantech/2013/01/bitcoin-payments-processor-bitpay.html