BitPay stops ‘free and unlimited’ bitcoin processing for new merchants

Announcements | October 5, 2015 By:

BitPay announced it will no longer offer its “free and unlimited” introductory service to new merchants looking to accept bitcoin as payment.

“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,” said Bitpay executive chairman Tony Gallippi.

Gallippi downplayed the idea the change would have a substantial impact on customers, adding that “nearly all merchants” processing enough transactions chose to upgrade to a paid subscription package.

Starter Plan customers who process more than 30 transactions a month, the company said, would be charged a 1% fee on additional transactions. Likewise, subscribers to the company’s Business Plan aimed at enterprise users will now be charged a 1% fee based on use, rather than a $300 recurring monthly cost.

The pricing change, Bitpay said, was made following improvements to the platform including a new payments dashboard and upgraded refund and invoice adjustment tool.

BitPay is a Bitcoin payment processor