ATLANTA--(BUSINESS WIRE)--BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, today announced its acceptance of the Company of the Year Award in alternative payments from leading market research and consulting firm, Frost & Sullivan.
Frost & Sullivan Chairman David Frigstad said, “BitPay is a true industry leader, delivering best practices in growth, innovation, and leadership.” Frigstad cited BitPay’s foresight in recognizing a gap in blockchain payments and seizing first-mover advantage as among the reasons BitPay was chosen.
In its research, Frost & Sullivan determined BitPay to be an innovative low-cost way for merchants to open up to a new customer base. Furthermore, Frost & Sullivan found that BitPay helps merchants avoid having to hold cryptocurrency and multi-vendor integrations required of other transfer options and enables faster cross-border transactions with minimal risk.
In addition to expanding their merchant’s customer base, eliminating chargebacks, and integrating easily, Frost & Sullivan commended BitPay for its leadership in developing the landscape around financial regulations compliance.
BitPay CEO and Co-Founder Stephen Pair said, “It’s an honor to be considered among the world’s top payment companies and to be named Company of the Year. We expect to onboard more new merchants this year than ever before, and we appreciate Frost & Sullivan recognizing the value proposition we bring.”
Frost & Sullivan’s Best Practices Recognition Awards are presented each year to companies predicted to encourage significant growth in their industries, identified emerging trends before they became a marketplace standard, and created advanced technologies that will catalyze and transform industries in the near future.
Founded in 2011, BitPay pioneered blockchain payment processing with the mission of transforming how businesses and people send, receive, and store money. Its business solutions eliminate transaction fraud, reduce the cost of payment processing, and enable borderless payments in cryptocurrency and fiat, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Visa® Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. For more information visit bitpay.com.
The BitPay Visa® Prepaid Card is issued by Metropolitan Commercial Bank, member FDIC, pursuant to a license from Visa, U.S.A. Inc. “Metropolitan” and “Metropolitan Commercial Bank” are registered trademarks of Metropolitan Commercial Bank © 2014. Use of the Card is subject to the terms and conditions of the applicable Cardholder Agreement and fee schedule if any.