Payza goes Bitcoin. Now offers to withdraw funds to BTC

Payment processing firm Payza is expanding its offered services to now incorporate a Bitcoin exchange.

The feature is something Payza calls Withdraw Funds by Bitcoin, and as the name suggests gives users the ability to withdraw funds from their Payza account directly to their Bitcoin wallet. While not calling the new service an “exchange”, the new feature allows users to buy Bitcoin in a fast and easy manner.

“This is our first step into the exciting space of cryptocurrency, currency that exists solely in the digital world. At Payza, we’re very interested in Bitcoin and cryptocurrency, and we have big plans to expand the way Bitcoin can be used on our platform,” stated a Payza blog post.

Bitcoin withdrawals can take up to 3 days to be completed. Payza assures its users that the exchange rate is locked at the moment the user chooses to withdraw the funds, in order to eliminate the ups and downs associated to Bitcoin exchange rates.

Withdrawing in Bitcoin through Payza is fairly simple, and can be completed in 3 steps:

1. In your Payza account select “Withdraw Funds” on the top navigation bar and then select “Bitcoin”.

2. Select the currency (Balance) you wish to use, enter the Bitcoin address for your wallet, and enter the amount you wish to withdraw, then click “Next”.

3. Verify the details, enter your Payza Transaction PIN and click “Withdraw” to complete the transaction.

According to a blog post announcing the new service, Payza is planning on finding other ways to incorporate Bitcoin and other Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. No word yet on any exact plans like supporting 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 in the digital currency, but our feelings tends towards the notion. The service is available to Payza users spanning over 190 supported countries.

Oddly enough, another payment firm, NETELLER, went public on its stance against Bitcoin, and its plans to not incorporate it in the future.