Category Archives: Bitcoin

Payment giant Worldpay supports Bitcoin only slowly

The answer to this question, according to Worldpay vice president Chester Ritchie, depends entirely on how you interpret the question. To date, there has been no internal Bitcoin integration into the $3.6 billion company, Ritchie said. However, the company, like many other payment processors, is working on interfaces to provide the best possible service to customers.

“I don’t know how well it’s known,” Richie said in an interview with CoinDesk at Money20/20 in Las Vegas, “but we have some partners already working on a Bitcoin solution.”

Does Worlpay support Bitcoin revolution and the Blockchain?

Ritchie stressed that Bitcoin revolution and Coinbase have already created excellent solutions so that small as well as large companies can accept Bitcoin payments in addition to credit card payments. Chester Ritchie’s personal opinion is that you simply have to wait and see whether Bitcoin revolution and blockchain technology will prevail and whether they can be used to enrich or even revolutionize the business model of Worldpay and other international payment processors.

The technology is currently becoming increasingly popular as software for databases and asset management, says Richie. New application examples are being tested here every day, after payment processing, according to Richie, has proven to be problematic in some cases.

“Is Bitcoin the real digital currency that can revolutionize today’s payment traffic,” Richie asked in the interview. “I’m still a little sceptical about this because of the limited number of coins. People probably prefer to hoard it rather than spend it, and I don’t know if that’s good for a currency.”

Market observation of the Bitcoin loophole

However, Richie is enthusiastic about the development of the Bitcoin loophole, even though it is clear that he sees the technology as something new or at least entertaining, which does not quite do justice to the practical application and ultimately convinces consumers and companies as in this Bitcoin loophole review.

This does not mean, however, that the company is not approaching Bitcoin in small steps. According to Richie, Worlpay is already working on introducing Bitcoin to the SecureNet gateway. He is not quite sure what this will look like in the end like pearce engineering.

Wordpay also works closely with the Georgia Institute of Technology, one of the few universities to offer special Bitcoin courses, on Bitcoin.

At the university, students can already load their student card with Bitcoin and use it to pay in campus shops and canteens. In addition, the university has had its own Bitcoin wallet branded.

Headquartered in Atlanta, Worlpay works closely with the technology incubators in Gerorgia. Here, for example, hackathons are sponsored by the international payment service provider:

“We have a ‘sandbox’ in which we make our software available to the students and enable them to work out solutions or ideas for specific problems or applications with us. So we keep each other up to date,” Riechie said and added:

“Large companies are not innovative, it’s usually the small ones!