iPay You, a Seattle, Wash.-based bitcoin wallet created by Gene Kavner, a former director of Amazon Associates and a Microsoft veteran, allows users to send bitcoin to people who don’t already have a bitcoin account, using text or email.
It also makes it possible to buy bitcoin using a U.S. bank account – the web app supports 16 major banks.
How It Works
To make a payment, the user fills in the recipient’s email or bitcoin address on a simple screen on the app. They also write the recipient’s name. Next, they click “continue” and confirm the transaction. It takes three to four business days for bitcoin to be deposited into an iPay You wallet.
It is possible to set the app on automatic withdraw so that funds sent to the app automatically deposit the funds in a bank account. It takes two to three business days for the funds to deposit in a bank account. The wallet shows the expected transaction completion date.
To transfer bitcoin into an iPay You wallet, the user clicks