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Q & A with BitPay

by Raven Davis

Chances are that if you’ve been reading any tech news lately you’ve heard about BitPay, a rapidly growing Payment Service Provider (PSP) that specializes in ecommerce and B2B. BitPay allows for businesses and individuals to conduct instantaneous transactions, worldwide, using the bitcoin currency. It has significantly lower fees than credit cards and does not require the exchange of personal information, eliminating identity theft and fraud risks. The co-founders of BitPay, Anthony Gallippi and Stephen Pair, both Georgia Tech alumni, realized a need for a payment processor for bitcoins, a digital currency created in 2009. This need led to the founding of BitPay in 2011.

Want to learn more about bitcoin? Check out our article.

Your Pitch:
BitPay (@bitpay) is the largest Payment Service Provider (PSP) specializing in ecommerce, B2B, and enterprise solutions for virtual currencies.

Stephen Pair and Tony Gallippi
Read more about Tony Gallippi: Forbes

We are located in Atlanta, because it is the hub of payment processing in the U.S., and is driven by forward-thinking, innovative individuals and businesses.

BitPay currently has 20 employees.


May 2011

Funded or bootstrapped:
We were initially bootstrapped and raised $2.7 million in May 2013.

Price of Services(S):
We have four available pricing platforms ranging from 1% per transaction to all-inclusive pricing with zero transaction fees from $30 to $3000 per month.

What Customers Get:
Our merchants receive easy ecommerce tools, retail POS plugins, 20 shopping cart plugins, daily bank deposits to over 30 countries, merchant support, and more.

How’d You Get The Idea For It:
BitPay was created after the realization that there was a beneficial technology (Bitcoin), but users were unable to use it to purchase goods and services, simply because businesses lacked the tools to implement Bitcoin as a form of payment. The company’s founders set out to develop the best way to seek out a solution to a consistent
problem. And BitPay was born.

Where do you gain your insights from and how do you stay on top of emerging trends?
BitPay is in constant communication with our merchants and partners to insure that we staying ahead of the curve.

What’s Unique About Your Company Culture:
We foster a creative and collaborative environment driven by like-minded, intelligent individuals.

What You Need Most Right Now:

We need a larger office to accommodate BitPay’s rapidly growing team.

See Them In The News:


[Photo Credit: Marin/Hypepotamus]

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