In recent times, we have seen the number of news related to Bitcoin, the best-known virtual currency on the Internet, grow, and there is so much interest in this currency that the first ATM in Europe, located in Helsinki, has just appeared. In this sense, there are already merchants interested in enabling their customers to make their payments through Bitcoins, either in their virtual stores or in their physical stores, or perhaps both. This is where the Spanish startup Pagobit (pagobit.es) comes in, whose founders have given a short interview in Loogic, where they talk about the solutions they offer to merchants themselves.
The founders themselves consider Pagobit as the first Bitcoin payment processor in Spain, second in Europe, and one of the pioneers internationally. Pagobit act as a payment gateway in the case of online stores and offer virtual data phones to physical stores to be used through mobile devices. Once the payments are accepted and the clients pay for their purchases using this virtual currency, Pagobit will convert to the local currency and make the bank transfer to the bank account of the merchants themselves. As advantages, as its founders comment, defaults are avoided and they can receive international payments with little cost or complications, among others.
At the moment, the service is in private beta phase and closed to some 200 potential registered customers, although those interested may leave their email addresses and may be invited to participate later. For now, there is so much demand that they have that they are overwhelmed trying to offer their services with the resources they currently have.
So it is possible that at any time we can see local businesses allow payments through this virtual currency, of course it is a new market where the average user is not yet used to it.