Bitnet Partners with Payment Solutions Platform Zooz

Bitcoin payment services provider Bitnet has partnered with Zooz, a payment services platform, allowing its clients to now accept bitcoin.

Bitnet processes bitcoin 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 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.

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 Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term 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.