Verotel, a popular Dutch payment processing platform specialising in pornographic websites’ subscriptions, has started to accept bitcoins.
The virtual currency can now be used to buy adult entertainment online anonymously. Jason Collins, VP Business Development at Verotel, explained: "The anonymous nature of Bitcoin makes a lot of business sense.
Go deeper with GlobalData
"No credit card needed to access adult content online is a no-brainer. There is no credit card statement and there are no disputed charges by the spouse of the cardholder. An ideal world for any adult entertainment consumer."
Over 50,000 membership merchants can now create a Bitcoin payment option in Verotel’s Control Centre. They are charged 1% and Verotel doesn’t currently process Bitcoin refunds.
The transactions are processed by BitPay, a payment processor that focuses on virtual currencies, and regulated by the Dutch Central Bank.
Verotel will only enable merchants to accept Bitcoin under the same strict content regulations than for credit and debit card to avoid fraud and illegal content.
Tony Gallippi, BitPay co-founder and CEO, said: "We believe that BitPay’s order volume will increase significantly with this new partnership."
The new Bictoin functionality was originally released by Verotel in closed beta in January 2014.
Related articles:
Verotel partners with BitPay for Bitcoin payments
Vending machine appeals to "grass roots" of Bitcoin community
