1 day ago Through BitPay, WeWork will accept Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Paxos (PAX), and several other cryptocurrencies as payment for its offerings. The company will also pay. With the BitPay Wallet, you control your private keys and money and you're using code that's 100% open source for community testing and audits. The following features are built into this version of.
ATLANTA--(BUSINESS WIRE)--BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, today announced that US cardholders of the BitPay Prepaid Mastercard can add their card to Apple WalletTM and spend with Apple Pay®. With Apple Pay, BitPay cardholders can make secure purchases in stores, in apps, and online. In addition, customers waiting on delivery of their plastic card can add their virtual card to Apple Wallet via the BitPay Wallet app and can start spending immediately. Support for Google Pay and Samsung Pay is planned for later this quarter.
“We have thousands of BitPay Wallet app customers using the BitPay Card who are always looking for new places and ways to spend their crypto,” said BitPay CEO Stephen Pair. “Adding Apple Pay and soon Google and Samsung Pay makes it easy and convenient to use the BitPay Card in more places from day-to-day items to luxury purchases.”
BitPay continues to innovate its global blockchain solutions to make paying with Bitcoin and other cryptocurrencies faster, easier and safer than ever before. The BitPay Wallet app is designed to enable customers to manage and spend Bitcoin, and also turn it into dollars and spend with the BitPay Card.
For power blockchain users, the BitPay Wallet app supports an array of options to buy and store crypto and make online payments. Users can instantly buy gift cards from hundreds of top retailers in store and online. The BitPay Card enables customers to instantly convert cryptocurrency into fiat currency, which is then loaded onto the card and can be spent anywhere Mastercard debit is accepted around the world. Customers can also use the cards online for purchases and to withdraw cash from ATMs.
The BitPay Wallet app supports Bitcoin, Bitcoin Cash, and Ether, as well as four dollar-pegged stablecoins, USDC, GUSD, PAX and BUSD.
To add a card to Apple Wallet, cardholders need to have the most recent version of the BitPay app, 12.1.0 which is available in the App Store. To order the BitPay Prepaid Mastercard, visit https://bitpay.com/card/
About BitPay
Founded in 2011, BitPay pioneered blockchain payment processing with the mission of transforming how businesses and people send, receive, and store money. Its business solutions eliminate fraud chargebacks, reduce the cost of payment processing, and enable borderless payments in cryptocurrency, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. For more information visit bitpay.com.
BY USING THIS CARD YOU AGREE WITH THE TERMS AND CONDITIONS OF THE CARDHOLDER AGREEMENT AND FEE SCHEDULE, IF ANY. This card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Mastercard International. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank ©2014.
Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.
Apple Wallet and Apple Pay are trademarks of Apple Inc., registered in the U.S. and other countries.
The Treasury Department’s Office of Foreign Asset Control continues to focus enforcement activities on digital currency companies. This focus is likely to increase given recent comments by Janet Yellen, the head of the Treasury department, criticizing digital currencies and the utility of this rapidly growing new technology. Last year, OFAC announced an enforcement action against BitGo, a digital wallet asset management service.
In OFAC’s latest enforcement action, BitPay, Inc. (“BitPay”), a private company based in Atlanta, Georgia, which provides payment processing for merchants to accept digital currency as payment for goods and services, agreed to pay $507,375 to settle violations of various OFAC sanctions programs.
Bitpay Payment Gateway
BitPay engaged in 2,102 violations of sanctions programs in the Crimea region of the Ukraine, Cuba, North Korea, Iran, Sudan and Syria. In particular, BitPay processed transactions for customers with merchants in the United States and elsewhere using digital currency on BitPay’s platform, even though BitPay had location information, including Internet Protocol (IP) addresses and other location data about those persons prior to completing the transactions.
As a result, BitPay transacted transactions totaling approximately $129,000 worth of digital currency transactions with BitPay merchant customers. Specifically, BitPay received digital currency payments from its merchant customers on behalf of the merchants’ buyers who were located in sanctioned jurisdictions, BitPay converted the digital currency to fiat currency, and then BitPay relayed that currency to its merchants.
Between approximately June 10, 2013 and September 16, 2018, BitPay processed 2,102 transactions on behalf of individuals who, based on IP addresses and information available in invoices, were located in sanctioned jurisdictions. BitPay screened its merchant customers against OFAC’s SDN List and conducted due diligence on them to ensure they were not located in sanctioned jurisdictions. However, BitPay failed to screen location data that it obtained about its merchants’ buyers to confirm the location and screen the customers against OFAC’s SDN List.

Specifically, BitPay at times received information about merchants’ buyers, including a buyer’s name, address, email address, and phone number. Starting in November 2017, BitPay also obtained buyers’ IP addresses. BitPay’s transaction review process failed to review and analyze buyer identification and location data. As a result, buyers who were located in Crimea, Cuba, North Korea, Iran, Sudan, and Syria were able to make purchases from merchants in the United States and elsewhere using digital currency on BitPay’s platform.
BitPay did not voluntarily disclose the sanctions violations. OFAC determined that the violations were not egregious. OFAC determined that BitPay failed to exercise due caution or care for its sanctions compliance obligations when it allowed persons in sanctioned jurisdictions to transact with BitPay’s merchants using digital currency for approximately five years, even though BitPay had sufficient information to screen those customers.
BitPay implemented sanctions compliance controls in 2013 for conducting due diligence and sanctions screening on its merchant customers but failed to extend its controls to merchants’ buyers. Notwithstanding this omission, BitPay employees were trained that BitPay was subject to sanctions prohibitions involving Cuba, Iran, Syria, Sudan, North Korea, and Crimea, as well as sanctioned individuals and entities.
To remediate the violations, BitPay has blocked IP addresses that originate in Cuba, Iran, North Korea, and Syria from connecting to the BitPay website or from viewing any instructions on how to make payment. In addition, BitPay checks physical and email addresses of merchants’ buyers when provided by the merchants to prevent completion of an invoice from the merchant if BitPay identifies a sanctioned jurisdiction address or email top-level domain; and implemented “BitPay ID,” a new customer identification tool that is mandatory for merchants’ buyers who wish to pay a BitPay invoice equal to or above $3,000. As part of BitPay ID, the merchant’s customer must provide an email address, proof of identification/photo ID, and a selfie photo.
Bitpay Payment Gateway Integration Php
OFAC’s enforcement action underscores the importance of sanctions compliance for digital currency companies and the implementation of risk-based sanctions compliance controls commensurate with their risk profile. As stated by OFAC, “Companies that facilitate or engage in online commerce or process transactions using digital currency are responsible for ensuring that they do not engage in unauthorized transactions prohibited by OFAC sanctions, such as dealings with blocked persons or property, or engaging in prohibited trade or investment-related transactions.”

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