Bitstamp partners with Net1 for cryptocurrency purchases
Net1 says its wholly owned subsidiary, Masterpayment, a payment processor specialising in cryptocurrency markets, has been appointed as a new partner for credit card processing and acquiring for cryptocurrency purchases for digital currency exchange, Bitstamp.
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%.
“Here at Bitstamp, we’ve always sought to make access to digital currencies as safe, simple and secure as possible,” said Miha Grcar, 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.”
Read: How Net1 will make money after social grant contract ends
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