Pocopay Adding Bitcoin to Its Range of Services

February 12, 2016 By: Ryan Kennedy

Bitcoin continues to gain traction, both among new financial technology startups and traditional banking institutions.

This time, European fintech bank and online payment company Pocopay is adding bitcoin support to its range of services. The addition of bitcoin comes at a time when Pocopay and other fintech startups are struggling to find new customers and bring new and innovative services to their clients.

Unlike traditional banks, Pocopay does not offer deposits or loans to its clients. However, it does offer unique payment solutions that traditional banks do not offer. First, the firm has enabled QR code payments, meaning their clients can pay for a range of goods and services with a mere scan of their phone.

QR code payments have yet to take off in a major way, but they are growing and many online shops accept QR code payments. Additionally, Pocopay offers a NFC MasterCard debit card for €2.99. This particular account type does offer deposits.

By adding bitcoin to its arsenal, Pocopay has enabled its clients to pay for goods and services with bitcoins through their debit cards. The impact of developments like this could potentially be major. After all, the entire point of fintech companies is to disrupt.

Even though there are no deposits offered on some account types, some clients may not need that service anyway. By utilizing a bitcoin wallet, many clients can bypass a traditional bank account all together.