November 22, 2017
Bitstamp partners with Masterpayment for cryptocurrency purchases
Partnership offers customers fast, convenient and secure payment processing for four cryptocurrencies
NEW YORK -- Bitstamp today announces Masterpayment, an independent payment processor specializing in the requirements of the new cryptocurrency markets, as its new partner for credit card processing and acquiring of cryptocurrency purchases. This partnership will allow Bitstamp customers to enjoy faster and more convenient transactions, while maintaining the same high-caliber security.
Masterpayment, first mover in cryptocurrency markets, merges the core capabilities of an acquirer with those of a payment service provider and adds the regulatory framework of a renowned bank, which provides added value, including payout options in 14 settlement currencies, as well as corporate accounts via the in-house acquiring bank. Bitstamp customers can still spend USD or EUR using Visa and Mastercard credit or debit cards to purchase bitcoin (BTC), litecoin (LTC), ether (ETH) and ripple (XPR). The transaction fees will decrease from eight per cent to five per cent.
“Here at Bitstamp, we’ve always sought to make access to digital currencies as safe, simple and secure as possible,” said Miha Grčar, head of business development at Bitstamp. “That’s why we are excited about our partnership with Masterpayment, which is ideally positioned to help us follow through on these goals.”
Bitstamp sets aggressive goals for customer satisfaction in the rapidly evolving cryptocurrency environment. In just the past four months, Bitstamp announced the launch of ether on its trading platform, a partnership with Swissquote to offer bitcoin trading on the online bank’s platform, and making newly generated bitcoin addresses at Bitstamp Segwit compatible. Partnerships with providers like Masterpayment allow Bitstamp to continue to meet the demands of a growing customer base as the industry becomes more mainstream.
“We are proud to be working with Bitstamp to lay the foundation for a long-term partnership in the field of cryptocurrencies. The demand of users for flexible payment methods is increasing and we look forward to being able to provide that,” said Christian Mangold, managing director at Masterpayment.
Bitstamp customers will experience smoother and faster purchases as well as enhanced security. Standardized security procedures such as 3D Secure, as well as special fraud-prevention mechanisms between the payment gateway and Bitstamp based on bilaterally accepted parameters, ensure a permanent fine-tuning of the risk system and monitoring of transactions.