OneBit, a bitcoin wallet app that enables its users to pay with bitcoin at any credit card accepting store, has entered the alpha stage of development. OneBit announced that users are testing the application worldwide, and that it will go into closed beta very soon.
OneBit began as an NFC payment tool for MasterCard’s PayPass, which would have been used to pay with bitcoin at any MasterCard accepting stores. The application was developed at a Mastercard Hackathon by entrepreneur and OneBit CEO Toby Hoenisch, who received positive feedback from the credit card processor. Hoenisch said:
“I have been fascinated by Bitcoin for the last three years, but never quite found the right idea to form a company around until now. […] We managed to get MasterCard and DBS bank interested in OneBit and with their help, I am confident that we can build OneBit without getting burned like Charlie Shrem did.”
Mastercard helped OneBit secure a partnership with a card issuer and to raise funding rounds for the development of its application.
OneBit made clear, however, that they haven’t partnered with Mastercard. Hoenisch said:
“To be clear: We don’t have