By Stan Higgins,
Bitcoin micropayments startup SatoshiPay is developing a new proof-of-concept with Visa Europe’s innovation unit.
The concept, according to SatoshiPay founder Meinhard Benn, involves the integration of the startup’s technology with Visa’s card payments structure, allowing for automated micropayments from a person’s Visa account to a SatoshiPay wallet.
Benn said that the proof-of-concept seeks to “establish a safer method of purchasing small amounts of bitcoin using credit and debit cards”.
Denn continued:
“During the PoC, we will establish a safer method of purchasing small amounts of bitcoin using credit and debit cards. With a process for fiat payments in place, we will also integrate other payment local methods like direct debit or instant bank transfers.”
Benn said Visa plans to work with the firm to explore how its technology could be used for machine-to-machine payments and IoT devices. Other plans include a future user study conducted in conjunction with Visa Europe Collab on micropayments for web content.
The project isn’t Visa Europe Collab’s foray into bitcoin. Last year, the company unveiled a remittance app concept developed in partnership with Epiphyte.