Australia’s igot.com forays into bitcoin payment processing space

Australian startup igot.com has launched its bitcoin payment processing solution services.

Australia’s igot.com forays into bitcoin payment processing space

It also announced that it received new funding from ForexMinute.com.

The new service will convert Bitcoin payments instantly to 10 different fiat currencies.

The solution will allow both electronic retailers and physical stores spread across the world to accept Bitcoin for goods and services, paying a fixed transaction fee of 0.5%.

It will be available in countries including India, Hong Kong, Singapore, Denmark, France, Greece, Italy, Luxembourg, Netherlands, Portugal, Sweden, UAE, New Zealand, and United Kingdom etc.

The service, which includes cloud reporting and full stack APIs and integration support, will be integrated with existing merchant accounts.

igot.com co-founder Rick Day said: “Accepting bitcoin through igot has multiple advantages for merchants. Integration take just minutes, and it protects businesses from both credit-card chargebacks and price volatility.

“Over time, we will work with POS solutions to integrate igot’s service into their existing hardware. Right now, accepting bitcoin requires almost no effort from the merchant and, once sales start coming in, igot automatically converts the bitcoin to fiat currency and places it in the merchant’s bank account,” Day told Bitcoin Magazine.