Global cash transaction network ZipZap has formally reinstated its bitcoin buying service at more than 20,000 partner retail locations in the UK.
This resumed service is the result of ZipZap's new partnership with payments acceptance network Payzone. The Ireland-headquartered company has thus far indicated it does not share PayPoint's reservations about the burgeoning payment technology.
Mark Mellor, director of sales and marketing at Payzone, said in the announcement:
Alan Safahi, founder and CEO of ZipZap, further told CoinDesk that the move marks an end to service interruptions for in-store digital currency buyers. He explained that the service has also been retooled to factor in feedback from a rocky first launch with PayPoint in December, stating:
The news finds ZipZap aiming to expand its bitcoin services in line with its wider goal of providing both cash-in and cash-out services to digital currency consumers around the globe.
Safahi suggests that beyond the troubles in the UK, ZipZap has global expansion in its sights, stating:
This network, the CEO suggests, will be used to help position ZipZap to influence bitcoin remittance. While he was short on the details, he indicated that the company is currently examining major remittance markets and opportunities for tapping into the demand for potential bitcoin services there.
A full list of countries where ZipZap services are available can be found on its official website.
Speaking more broadly about macro developments in the bitcoin space, Safahi explained that he was not surprised by the decision of PayPoint to suspend its bitcoin support.
He believes such complications with financial partners will be common for bitcoin businesses, at least in the short term, even if the ecosystem is primed for long-term success.
Image via ZipZap
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.