Microsoft became by far the largest company to accept bitcoin to date. The software giant is the second-most valuable company in the US, worth over $390 billion. The company indicates on its payments page that it will accept bitcoin to top up a Microsoft account. Bitcoin funds can then be used to purchase apps, games and videos for its Windows, Windows Phone and Xbox systems. Thus, like in PayPal’s high-profile move to accept bitcoin, it can only be used for digital goods at this time.
BitPay is facilitating the integration, although they have yet to make a formal announcement. For BitPay, the partnership is a huge boost as it gains traction in a highly competitive market with rival processors Coinbase and GoCoin. BitPay last week added DriveWealth, Xsolla and Bitstraat for bitcoin payments support.
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There are also more catches to Microsoft’s integration. Products purchased with bitcoin are not eligible for refunds. The company’s support team should be contacted for erroneous payments. The restrictions bear some resemblance to Dell’s policies for accepting bitcoin, which stipulate that only Coinbase account holders are eligible for refunds on bitcoin purchases.