Digital Transactions Authoritative, insightful and timely information for payments professionals
Online payment processor Payza announced Monday that its customers can now use funds in their Payza accounts buy alternatives to Bitcoin, the cryptocurrency market leader. The news comes six months after Payza launched a service enabling customers to sell so-called altcoins such as Ethereum, Ripple, Litecoin, Dash, Monero, and Zcash.
Bitcoin and more than 30 altcoins now can be bought or sold directly through Payza’s online platform, Leicester, England-based Payza said in a news release. The company said it wants to make the process of trading cryptocurrencies, which many consumers find mysterious, as easy as possible.
“We’re excited about the potential of this new technology and want to share our excitement with as many people in as many places as possible by providing a service that’s easy to use even for those just getting started with cryptocurrencies,” chief executive Firoz Patel said in a statement. “That doesn’t mean our services are just for beginners; I think that dedicated cryptocurrency enthusiasts will also appreciate our range of services, unique model, and competitive pricing.”
The cryptocurrency trading process isn’t yet as simple as it will be in the future, according to Payza. While users can hold Bitcoin in their Payza wallets, they still need an external wallet to hold any altcoins bought through Payza.
“The company is already developing the next cryptocurrency feature that will enable members to hold altcoins (the first of which will be Dash) within their Payza e-wallets as well,” Payza said.
Payza, which recently announced it was recruiting independent sales organizations to market its services to online businesses, says it has 14 million business and consumer customers in 190-plus countries.
