Bitcoin Cash (BCH) is experiencing a tidal wave of merchant acceptance after Bitpay announced full integration of BCH payments across its entire network of vendors and merchants. The move dramatically expands the real-world utility of BCH, allowing users to spend the cryptocurrency at thousands of locations worldwide.
Thousands of Merchants and Nonprofits Now Accept BCH
Bitpay, one of the leading cryptocurrency payment processors, has fully enabled bitcoin cash support for all merchants that use its payment processing services. This includes a wide range of prominent brands such as Newegg, Apmex, Vultr, Namecheap, eGifter, Gyft, Zeek, Wefunder, Heifer International, Vodi, and JM Bullion. Nonprofits and charities like Save the Children, the Internet Archive, the Electronic Frontier Foundation, and Wikipedia are also among the organizations now accepting BCH.
The integration comes after a period of significant merchant growth for Bitpay, which expanded its footprint across the U.S., South America, Asia, and Europe following the 2017 cryptocurrency boom. BCH supporters have been particularly pleased with the low network fees compared to Bitcoin (BTC), making it an attractive option for everyday transactions.
BIP70 Wallet Support and Cross-Border Payments for South Korea
Bitpay also made BCH payments compatible with the Payment-Protocol (BIP70) used in its invoices. Wallets that now support this feature include BRD Wallet, Bitcoin Core, Edge (formerly Airbitz), Electrum, Mycelium, Copay, Bitpay, and the Bitcoin.com Wallet. This ensures a seamless checkout experience for BCH users across multiple wallet providers.
In another major development, Bitpay partnered with South Korean exchange Bithumb to launch a cross-border payment solution that leverages BTC and BCH to reduce the cost of international payments for South Korean businesses. Bitpay executive Sonny Singh noted that South Korean companies often process invoices ranging from $100,000 to $5 million USD. "A 1-2% savings on each invoice can lead to dramatic cost savings," Singh explained.
Additionally, Coinbase, another major cryptocurrency platform, has previously integrated BCH support and allows its merchant plugin to process BCH payments. Together with Bitpay's latest move, Bitcoin Cash is now accepted by an unprecedented number of merchants globally, further solidifying its position as a viable digital currency for everyday commerce.