{"id":19580,"date":"2019-08-13T17:55:12","date_gmt":"2019-08-13T17:55:12","guid":{"rendered":"http:\/\/ci027cfe70e00326c3"},"modified":"2025-01-27T21:33:03","modified_gmt":"2025-01-27T21:33:03","slug":"bitpay-upgrades-offerings-and-tightens-identification-measures","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/culture\/bitpay-upgrades-offerings-and-tightens-identification-measures","title":{"rendered":"BitPay Upgrades Offerings and Tightens Identification Measures"},"content":{"rendered":"
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Cryptocurrency payment facilitator BitPay has announced a range of product upgrades to improve service delivery to customers, according to a blog post<\/a>. And the roster of changes includes tightened security measures.<\/p>\n

BitPay\u2019s Service Upgrades<\/strong><\/h3>\n

First on Bitpay\u2019s list of upgrades is the introduction of the BitPay Dashboard, a feature which will provide a much more personalized experience for shoppers using the platform. The dashboard will house the user’s transaction histories and BitPay’s new payment features going forward. The product is live for current customers but noncustomers can create a dashboard with an email and password, according to the post.<\/p>\n

Next up is BitPay ID; a cross-platform identification feature that simplifies the login process for accessing multiple BitPay products. In the blog post, BitPay says the ID system would work like the Apple ID, the user identification feature that is ubiquitous on all Apple products. Use of BitPay ID will be required to access the dashboard and BitPay business accounts. <\/p>\n

Sharing Your ID<\/strong><\/h3>\n

The upgrades include the introduction of a new identification measure to cover high-value refunds, payments and payouts. In addition to BitPay ID, selected users will have to go through a one-time verification process. During this stage, they will verify their identities with data such as their photo ID, passport number and social security number. <\/p>\n

\u201cThis process helps us improve our identity verification efforts and reduce payment risk for BitPay\u2019s merchants,\u201d according to the announcement. \u201cIt\u2019s also a requirement for us to be able to offer verified users future services like Bitcoin payouts, or faster onboarding for people who want to get BitPay prepaid products.\u201d<\/p>\n

The requirement will apply to cases in which users make payments of $3,000 or more to a BitPay merchant, request refunds of $1,000 or above or request BitPay payouts. <\/p>\n

BitPay is one of the few companies that had a stellar 2018 despite the prolonged bear market, processing<\/a> over $1 billion in payments. <\/p>\n

\u201cMerchants are now able to easily accept Bitcoin payments in a simple, easy way without any support issues,\u201d Sean Rolland, head of product of BitPay, said at the time. \u201cThis was our biggest request by our enterprise merchants.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency payment facilitator is adding a user-experience upgrade and requirement identification for high-value transactions.<\/p>\n","protected":false},"author":3435,"featured_media":10242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[783,2635],"class_list":{"0":"post-19580","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-culture","8":"tag-bitpay","9":"tag-identity"},"author_data":{"id":3435,"name":"Jimmy Aki","nicename":"jimmy-aki","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/jimmy-aki-promo-image-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/bitpay-upgrades-offerings-tightens-id-measures.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/19580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3435"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=19580"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/19580\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/10242"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=19580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=19580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=19580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}