BitPay Partners With $1.5 Billion International Payment Startup Adyen

NEWSINBRIEF
Yessi Bello Perez
Feb 3, 2015 at 15:31 UTC  |  Updated  Feb 3, 2015 at 19:02 UTC

Adyen, a company that provides payments services for online retail giants like Uber, Facebook and Spotify, has added a bitcoin option to its platform.

BitPay and Adyen have partnered to offer bitcoin payments to gamers using Jagex, the UK-based developer behind popular online game MMORPG RuneScape.

An early adopter of the free-to-play gaming model, Jagex, is the first merchant to accept bitcoin payments through Adyen's platform, credited with processing $25bn in transactions last year.

Commenting on the rollout of bitcoin as a payment option, David Parrott, payment services director at Jagex, said:

"As a business that operates on a freemium model - where the payment process needs to be compelling enough to convert cost-free customers into paying ones - not having a barrier to entry for bitcoin users makes sense."

Tony Gallippi, BitPay's co-founder and executive chairman, commented that Adyen is "a strong partner to help expand bitcoin adoption worldwide".

Adyen raised $250m in venture capital last month, putting it at a $1.5bn valuation.

The announcement follows increasing investment in the startup ecosystem, with leading global brands like Microsoft and Virgin Galactic already accepting bitcoin.

Disclaimer: CoinDesk founder Shakil Khan is an investor in BitPay.

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