BCH Payment Processor System to Permit the Columbian Merchants for a 100% Fund Peso ConversionMay 30, 2018
Andrés Rivera and Javier Barrera, two of the Bitcoin Cash proponents believed that the evolution of cryptocurrency would be strengthened by the network of BCH. With that reason, they recently established a payment processor, which they call as Bitek.co.
The company is offering its merchant the opportunity to process with the payable invoices, as well as account services. This is made possible because Bitek platform gives them the ability to accept the BCH and then convert the assets into Columbian peso.
Bitek is a new payment processor for the Bitcoin Cash network. It is a system that permits the merchants coming from Columbia to accept the BCH and then convert the funds into peso when they choose to. As with Bitek’s business model, it seems to be the same with the Bitpay service since Bitek also offers BCH-based processing, accounting services, and invoices to its users.
At the same time, the system offers the users a community section that can be found on its website. The web section is for the merchants who desire to announce that they already accept BCH. For those who are interested in this service, all you have to do is to register and then fill out the information asked for a payment gateway and for the receiving deposit in Columbian peso and BCH.
The founder of Bitek, Javier Barrera spoke recently at Satoshi’s Vision Conference held in Tokyo, Japan. He detailed the process on how he and his team integrated the BCH into the retail market of Columbia. Apart from that, both Andrés Rivera and Javier Barrera explained on Diariobitcoin, a Latin-American publication, earlier this week about their passion for BCH. They both explained they believed that BCH can be a better Bitcoin and it’s the asset that best suit with the meaning, as well as with the philosophical line being proposed by the Satoshi Nakamoto.
Barrera explained that the system possessed three benefits for the merchants who are searching go BCH payment gateways. The benefit such as accounting and liquidity with remuneration in the Columbian peso and the protection from the crypto volatility can be possible since BCH deposit could acquire similar peso at the same day.
The rates of exchange are based on the estimates that stem from the local exchanges and the trading platforms such as Bittrex. The same with other crypto payment processors, the merchants can have the ability to convert 100% funds into Columbian peso or a fraction of it.