Georgia-based bitcoin merchant processing provider BitPay has announced the launch of the Bitcoin Payment Protocol, a wallet update designed to eliminate the “human error in making a bitcoin payment”.
In the official announcement, the company said the update would reduce friction at the point of sale by eliminating the need for consumers to copy the address and amount into their wallet. At checkout, users who scan a QR code or click to initiate payment will only be presented two options, pay or don’t pay.
Thought this may sound like a small improvement, Stephen Pair, CTO and co-founder of BitPay, explains these errors can create inefficiencies that can bog down the payments network.
February 21, 2014 at 07:34PM
