Coinpip announce Bitcoin payment via SMS functionality

Coinpip is to launch a new payment option, enabling anyone to send Bitcoins to anyone in the world via SMS.

The Singapore based payment processor is collaborating with US based 37coins, who have developed an SMSWallet, meaning people shall be able to send Bitcoins through a CoinPip Merchant Point of Sale from a mobile phone; and it doesn't even need to be a smartphone - since the technology shall be using SMS, therefore any mobile phone will work.

CoinPip's co-founder, Anson Zeall, wants to enter the Hong Kong and Indonesian markets very soon, with an eye for the entire South East Asia region later on, elaborating,

“The mobile market in South East Asia is extremely massive but the usage of smartphones is still lagging. So QR code scanning is not that useful. Thus the collaboration with 37coins is going to make Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term more convenient for everyone else.”

Whilst Johann Barbie, CTO of 37Coins explained,

“The 37coins gateway system is distributed, and modeled after Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term itself. A person that deploys a gateway gets a tiny % of the transaction which turns it into an entrepreneurial opportunity.”

The 3G market in a lot of countries is still very limited, and it's particularly these regions that CoinPip are looking to target, I think this is an excellent idea. I wrote an article in late April, explaining that for Bitcoin and altcoins to really become what they seek to achieve, will take some time, due to their very innate nature of virtualizing the economy. However, with SMS being perhaps the only technology that can be considered truly ubiquitous, it will no doubt make this underlying goal more achievable and realistic.

The official launch shall take place in two days time, at the BOOST Bitcoin Event in Singapore.