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This article was published on February 20, 2014

Payment provider Balanced partners with Coinbase to help marketplaces process Bitcoin transactions

Payment provider Balanced partners with Coinbase to help marketplaces process Bitcoin transactions Image by: KAREN BLEIER
Ken Yeung
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Ken Yeung

Ken Yeung is a reporter for The Next Web based in San Francisco, CA. He carries around a big camera & likes to write about tech, startup Ken Yeung is a reporter for The Next Web based in San Francisco, CA. He carries around a big camera & likes to write about tech, startups, parties, and interesting people. Follow him on Twitter, on Facebook, and Google+.

Balanced, a payments API service for marketplaces, has partnered with Coinbase in a move that enables more than 450 marketplaces to now accept payments via Bitcoin.

Primarily a payment service that helps companies process credit card transactions, Balanced is now adding Bitcoin to its portfolio, joining numerous services accepting this transaction type, including Overstock.com. Company co-founder and CEO Matin Tamizi said in a statement: “We want to enable new commerce by supporting the growth of marketplaces. Allowing consumers to pay any way they want to, as often as they want to, whether via credit card or bitcoin, is aligned with our goals.”

Coinbase also provides a payments API that lets Bitcoins be accepted via email, on a merchant’s website, or in their e-commerce store. It handles Bitcoin transactions for more than 23,000 merchants and 960,000 consumer wallets.

Photo credit: KAREN BLEIER/AFP/Getty Images