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The biggest bitcoin processing company, BitPay decided to stop offering the unlimited starting plan for new clients and changed their pricing policy for the Business plan.

According to the statement of BitPay co-founder Tony Gallippi, the new scheme will support small businesses all over the world: 

“The new Starter Plan will remain free for up to $1,000 daily and 30 transactions per month, giving many small businesses more than enough access to our platform for their needs. For merchants who process over 30 transactions a month, a 1% fee will be applied to those additional transactions.”

The plan will include a free weekly batch bank settlement to support converting bitcoins to dollars and euros. 

“Daily bank settlements, and settlements to other banking systems, will be offered to merchants on our Business plan,” says BitPay.

The Business plan will be moving from a fixed-price $300 monthly subscription to a usage-based 1% fee plan. The customers who choose this plan will have access to multi-user login, payment dashboard enhancements, simplified refund and ability to convert bitcoins into dollars every day for free.

The only plan option that remains unchanged will be the Enterprise plan.

“Merchants on our Enterprise plan have contract pricing that will not change. Our Enterprise merchants will continue to get first access to new features as well as priority service and support,” says BitPay.

BitPay is one of the leading bitcoin processing companies in the world. It was founded in 2013 in Atlanta, Georgia. According to the publicly available information, it processes more than $1 million in bitcoin a day. In 2014, the company became a target of a successful hacker attack, which cost BitPay more than $1.8 million.

BitPay is one of the leaders on the American bitcoin market. Recently, BitPay joined the block size debate and sided with Blockchain, Circle and Xapo in support of the BIP101 Bitcoin improvement proposal. If BIP101 is implemented, the maximum block size in the blockchain will grow from the current 1MB to 8MB at the beginning of 2016, with further doubling every two years.

 

Roman Korizky