BIPS, a bitcoin merchant processor and wallet provider, has teamed up with Fidor Bank in Germany, to extend the offer of free bank settlements for its Danish merchants to its European merchants as well.
The collaboration with Fidor Bank allows BIPS to provide free Single Euro Payments Area (SEPA) bank settlements to its merchant customer base.
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BIPS CEO Hans Henrik H Heming said, "This initiative will further strengthen our commitment to lower fees for our merchants."
"Being able to offer reduced bank transfer fees is not only good news for our own business, but for every merchant that uses our payment gateway," H Heming added.
BIPS believes that the partnership with Fidor Bank will help it to capture a larger market share in Europe and enable it to tap into the technological advantages offered by virtual currencies.
In order to foray into new markets, BIPS is also looking to forge new banking relationships in the future. BIPS provides bitcoin payment processing, recurring billing, and other products and services.
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By GlobalData
