[South Africa] Masterpayment picked as cryptocurrency purchases partner for Bitstamp
Net 1 UEPS Technologies has announced that its wholly owned subsidiary, Masterpayment, an independent Payment Processor specializing in the requirements of the new cryptocurrency markets, has been appointed as a new partner for credit card processing and acquiring for cryptocurrency purchases for Bitstamp, a leading global digital currency exchange and the largest Bitcoin exchange in the EU in terms of volume.
This partnership will allow Bitstamp customers to enjoy faster and more convenient transactions, while maintaining the same high-caliber security.
Masterpayment merges the core capabilities of an acquirer with those of a payment service provider and adds the regulatory framework of a renowned bank, which provides added value as for an example, the payout in 14 settlement currencies, as well as corporate accounts via the in-house acquiring bank.
Bitstamp customers can still spend USD or EUR using Visa, Mastercard credit or debit cards to purchase bitcoin, litecoin, ethereum and ripple. The daily buying limit of 5000 USD/EUR and monthly buying limit of 20,000 USD/EUR remain the same, with transaction fees decreasing to 5 percent.
"Here at Bitstamp, we've always sought to make access to digital currencies as safe, simple and secure as possible," said Miha Grčar, Head of Business Development at Bitstamp. "That's why we are excited about our partnership with Masterpayment, which is ideally positioned to help us follow through on these goals."
Bitstamp sets aggressive goals for customer satisfaction in the rapidly evolving cryptocurrency environment. In just the past four months, Bitstamp announced the launch of ether on its trading platform, a partnership with Swissquote to offer bitcoin trading on the online bank's platform, and making newly generated bitcoin addresses at Bitstamp Segwit compatible.
Partnerships with providers like Masterpayment allow Bitstamp to continue to meet the demands of a growing customer base as the industry becomes more mainstream.
"We are proud to be working with Bitstamp to lay the foundation for a long-term partnership in the field of cryptocurrencies. The demand of users for flexible payment methods is increasing and we look forward to being able to provide that," said Christian Mangold, Managing Director at Masterpayment.
Bitstamp customers will experience smoother and faster purchases as well as enhanced security. Standardized security procedures such as 3D Secure, as well as special fraud-prevention mechanisms between the payment gateway and Bitstamp based on bilaterally accepted parameters, ensure a permanent fine-tuning of the risk system and monitoring of transactions.