Alternet launches global payment processing business in partnership with BitPay

Posted On 05 Sep 2014

Tag: Alternet, Bitpay, Payment processing business

Alternet Systems, a business facilitation and investment company, announced today that its wholly owned subsidiary, Alternet Payment Solutions, had launched its global payment processing business in partnership with one of the two largest Bitcoin payment processors, BitPay. The plan, according to Alternet Systems CEO Henryk Dabrowski, is:

“Providing a next generation digital currency and payment ecosystem focused on three distinct segments of the marketplace which includes comprehensive currency processing, identification and transmission.

“Our strategic agreement with BitPay will allow us to initiate our sales process with several potential clients in Latin America and the Asia-Pacific region. […] We now have a reliable and secure partner to fulfill transactions with Bitcoin. Together, we will enable customers the ability to fulfill digital currency transactions online and through mobile devices.”

The non-exclusive agreement will allow Alternet to distribute BitPay-backed business-to-business Bitcoin conversion services to businesses worldwide. Alternet will begin its sales process with various potential clients in Asia-Pacific and Latin America. BitPay will provide a reliable currency conversion service, and Alternet will provide the resources and expertise needed to expand into new markets.

This kind of partnership makes a lot of sense, and you can expect to see more like it as Bitcoin moves into the developing world.

From left to right: Tony Gallippi. BitPay executive chairman; Brett Dulaney, executive director of the Bitcoin St. Petersburg Bowl; and Stephen Pair, BitPay CEO.

Tony Gallippi, co-founder of BitPay, had this to say about the deal:

“Digital currency adoption and user demand for alternative payment methods continue to rapidly grow globally. We believe in the vision and successful past experience of introducing disruptive payment technologies that Alternet Systems possess, and look forward to working together to expand our global reach.”

About the Author

Raised by a pack of feral journalists, Andre is a lean, mean, insight machine, who sleeps with a copy of "The Wealth of Nations" under his pillow and has strong feelings about fractional reserve lending. He also makes videogames.