Coinify is a merchant payment service provider platform that accepts blockchain payments and also offers a trading platform for customers to buy and sell Bitcoin

Country: Denmarkcoinify

Year: 2014

Concept

  • Coinify offers two distinct services: a merchant payment service provider (PSP) platform for businesses on which they can accept blockchain payments and a trading platform for users to buy and sell Bitcoin using either their Visa/Mastercard or bank account
  • The merchant solution, available as an API, supports 17 blockchain currencies (including Bitcoin, Ether and Ripple) and offers the option of paying out in the local currency
  • Coinify generates revenue by receiving and selling Bitcoin: it receives Bitcoin from payments, that it keeps for its trading activity where there is demand. Coinify then pays merchants in the local currency
  • Coinify is currently market leader in Europe and is working on expanding its presence in Asia

Consumer Benefits

  • Increase margins: companies can decrease transaction fees and increase margins by up to 3% compared with other payment forms such as credit card payments
  • Zero chargebacks: blockchain technology ensures that users have a transparent and unchangeable payment history, meaning they are unlikely to chargeback on questionable transactions
  • Conversion to local currency: merchants are paid in local currency

How To Use

  • Users can sign up using either their Facebook or Google accounts

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