Bitpanda has launched a crypto bill payment service in Europe. Citizens of the European Union can now pay their utility bills and subscriptions using cryptocurrencies. Bitpanda Pay allows them to convert money from their cryptocurrency wallets to fiat and then send it to any IBAN account. The company announced their new service this week.
Bitpanda is a cryptocurrency exchange which has been on the market since 2014. A licensed subsidiary is running their new payment service. It’s called Bitpanda Payments and it’s a registered payment service provider under the European regulation PSD2.
Bitpanda Global Exchange is based in Vienna, Austria. On the exchange they use their own token called BEST. Starting this winter traders who use the token will get a 25 percent discount on their trading fees. The exchange offers trading pairs in euro.
More services for paying bills with crypto
The announcement by Bitpanda stands out, because that company has been running a cryptocurrency exchange for the past five years. However, it’s not the first company to allow bill payments using crypto. In Europe there’s another service called Piixpay.com, while Australians have been using LivingRoomOfSatoshi.com for years already. In the United States a simple search will lead you to DigitalBillPay.com.
Adoptions of crypto payments slowly growing
It’s not going fast, more slowly more companies are allowing payments with cryptocurrencies. Payment processors like Bitpay, Coingate and CoinPayments allow consumers to pay in crypto, while retailers receive fiat. In addition Point-of-Sales terminals are moving forward as well. Many POS devices now allow cryptocurrency payments directly or through one of those payment processors.
In recent weeks we’ve seen many announcements coming from France. Next year 25 thousand retailers will accept cryptocurrencies, including major brands like sneaker shop Foot Locker, supermarket Conforama and make-up retailer Sephora. On top of that tobacco stores all over the country will be selling vouchers for cryptocurrencies, making it easier than ever to buy bitcoin.
Also published on Medium.