When we started BitPay in 2011, we saw an opportunity to finally give merchants around the world relief from interchange fees. Today BitPay is proud to announce a new free plan which offers basic payment processing free-of-charge, forever.

For decades, businesses have watched their profits erode from rising processing fees. Today’s Internet payment system is built around credit cards, which were created in the 1950s — before the Internet existed. When card issuers began offering rewards and cash-back bonuses to shoppers, they started increasing the interchange fees to cover the costs. Without many alternatives, merchants have been forced to accept that interchange rates are not going down.

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