Yesterday BitPay announced a new, free-forever plan for merchants and other users wishing to use their Bitcoin payment processing services. Moolah then announced they were planning to do the same with their cryptocurrency services, and were bringing it forward after hearing of BitPay’s new plan.
We agree with @bitpay that we should be making it easier for people. From tomorrow, we'll be removing transaction fees from our packages…
— Moolah (@moolah_io) July 30, 2014
This is big news, as a completely free payment solution is pretty much unheard of — and both of these newly launched, free plans are sure to raise a few eyebrows once they become known to those who are currently paying large fees to PayPal or other payment processing businesses.
Tony Gallippi, BitPay’s Co-founder and Executive Chairman, commented in a press release:
We have set a goal to enroll one million merchants by the end of 2016. When we started BitPay in 2011, we saw an opportunity to finally give merchants around the world relief from interchange fees. By offering a basic plan that is free and unlimited, forever, we give merchants yet another reason to be excited about bitcoin.
These aren’t some half-free, entice you in and then whack on extra charges payment plans either, from the looks of it. Both offer unlimited volume, and some much-needed merchant tools like instant conversion into FIAT currency. Paid options are available, with extra support options and other non-crucial features — but I’d say for a majority of people accepting crypto, the free plan will be more than enough to service their needs.