iPayYou, a Seattle-based online wallet provider, has added bitcoin payment option for users who wish to shop on Amazon.
With the addition of bitcoin payments, users can purchase popular gift cards such as Amazon.com and Starbucks and send their gift cards to anyone or can sell back to iPayYou. Bitcoin users can also pay anyone via mail without asking them to pre-create a bitcoin address.
Additionally, they can also buy and sell bitcoins by funding their account via an ACH transfer in the USA by using any of the major bank accounts. In case if the money is sent to a wrong address, the payment can be canceled at any time before the recipient claims it.
“We’ve removed a lot of complexity compared to other options. We actually transfer funds from iPayYou’s bank account to Amazon. They don’t even know its bitcoin,” Gene Kavner, CEO of iPayYou told to Bitcoin.com.
iPayYou does not use its pooled wallet to keep all funds, instead, it is kept in user’s personal bitcoin account. Users can retain full control over their funds and can see balance directly on the blockchain. iPayYou plans to launch ‘Lock Your Price’ feature soon, where it lets users lock the USD price so that their recipients see the amount intended to pay them.
