[2014-08-06] Global Payments Signs Referral Agreement with BitPay

[Kprawn]

http://investors.globalpaymentsinc.com/releasedetail.cfm?ReleaseID=864618

one of the largest worldwide providers of payment solutions, today announced that it has signed a referral agreement with BitPay, the world leader in business solutions for the bitcoin digital currency. This relationship allows Global Payments to incorporate the cryptocurrency into its product suite and to offer bitcoin payment acceptance to its worldwide merchants.

It's coming, hold on to your hats.

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[LiteCoinGuy]

http://www.cnbc.com/id/101898588


big one 

[Kosta#]

It's funny in it's own way: Global Payments use of bitcoin will accelerate bitcoin taking over traditional financial services (like Global Payments)

[gmx95]

Its amazing how fast the industry develops.

[cryptofan5]

With this and similar good news we are getting lately, why the price hasn't started to climb yet? Shouldn't all this hype already boosted the demand?

[seriouscoin]

With this and similar good news we are getting lately, why the price hasn't started to climb yet? Shouldn't all this hype already boosted the demand?

Oh you can be sure the price will follow.
Its always lagging behind merchants adoption.

[freedomno1]

This is great news
Global payments is a big payment processing system so having users accepting it is great stuff sooner or later that lagging price will catch up as well

[Kprawn]

The hype is one thing, but adoption another. Merchant adoption in it self is also not a guarantee, that the price will go up. {It will push the demand for BTC up, but merchants convert the BTC they received into fiat and it place more BTC in circulation on the exchange, which push the price of BTC down, if there is less demand for it, than the users asking for it}

If this makes sense... So you will only see a increase in the price of BTC when the demand is bigger than the supply.

The merchants might have accepted BTC as a payment option, but the people paying must be converted to use it still. {Once that is done, the demand for BTC will go up, and if the demand is higher than the supply, the price of BTC will explode.

So we need a lot of merchants to apply incentives at first, to get people to adopt BTC as the preffered payment method. {In the form of discounts}