BitPay, a bitcoin payment and wallet service announced today they are now beginning the work to require a payment protocol wallet for all BitPay invoices. The updated requirement is an effort to improve service, and to cut down on the thousands of customer support requests every month to correct transaction errors. BitPay stated that when mistakes happen, sending refunds back to customers is a bad solution. It is costing customers time and money, and it costs merchants successful orders.
For BitPay, the protocol eliminates user error in bitcoin payments. When a payment protocol wallet interacts with a payment protocol URL, it creates an SSL-secured connection to the true owner of the receiving bitcoin address (in this case, BitPay). Instead of copying and pasting a bitcoin address and entering any BTC amount, customers simply click or copy/paste a payment protocol URL on a BitPay invoice. If their wallet also processes payment protocol, the correct receiving bitcoin address and the correct sending amount are locked in automatically…
Read Full: BitPay invoices to require payment protocol for bitcoin transactions
