Bitcoin payment services provider Bitnet has partnered with Zooz, a payment services platform, allowing its clients to now accept bitcoin.
Bitnet processes bitcoin payments for its merchants, with a focus on large companies. It recently partnered with France-based Limonetik to bring bitcoin payments to its e-commerce clients, and with blockchain data provider BlockCypher to help preempt double spending.
Zooz, with offices in New York, London and Israel, provides payment solutions for merchants that aim to optimize the way payments are processed. Solutions include ‘Smart Routing’, which seeks to integrate into a merchant’s infrastructure to “intelligently analyze and optimize all transactions,” and ‘Omni-Channel’, which consolidates user information.
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The overall objectives are to reduce payment processing fees, something which Bitcoin can potentially assist with, as well as easily enable multiple payment channels. Also offered are analytics to identify valuable market opportunities.
Nathan Jackson, VP Europe at Zooz, said, “We have seen the growing interest in digital currencies among our customer base and are excited to partner with Bitnet to add bitcoin to our service offering.”
Bitnet charges merchants a maximum of 1% per transaction, and the fee can decrease for large transaction volumes. The startup raised $14.5 million in funding last year.
The integration marks the latest in a shift seeing bitcoin acceptance gravitating more toward payment processors, and less with individual merchants.