BitPay Introduces New Pricing Model

BitPay, the leading bitcoin payment processor has made away with freebies. Merchants planning to use BitPay as their payment gateway can no longer avail the free and unlimited introductory service.

The change in pricing plans was recently announced by BitPay in one of their blogposts. The company’s blog states that as they continue to improve the platform, they will no longer be offering their “unlimited” starter plan to new merchants. The new starter plan announced by BitPay will have free limit of up to $1000 per day and 30 transactions per month. Any additional transactions beyond the free limit will incur a transaction fee of about 1 percent.

The new BitPay starter plan is going to be effective from the first of next month. Even the business plan offered by BitPay has undergone some changes, where the company will now charge 1% per transaction instead of the earlier subscription model of $300 per month.

With the new plan, the company will be able to generate more revenue than it previously did. From a small or mid-sized company’s point of view, they will also benefit from percentage model when they are experimenting with bitcoin payments. With the new Business plan, mid-sized merchants wouldn’t have to spend $300 upfront, but instead pay 1% transaction fee for each transaction.

The new pricing plans follows the latest set of improvements made to the platform. BitPay users will now have a brand new payments dashboard along with upgraded refund and invoice adjustment tools.

However, customers using Enterprise plan will not be affected as there is no change in pricing for them. The Enterprise plan users will continue to get the latest updates as soon as it is released along with priority service and support.

Since its launch in 2011, BitPay has emerged as the leader in bitcoin payments sphere with various big names like Microsoft, Warner Bros Records and NewEgg as its customers.

READ MORE: BitPay Lost $1.8 Million to Hackers Last Year, Court Records Divulge



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