GoMining Launches Bitcoin Payment System to Compete with Square
- GoMining, a mining company, aims to simplify bitcoin payments for retailers.
- The company’s payment system, GoBTC Pay, processes transactions entirely in bitcoin, unlike competitors like Square that convert to fiat.
- CEO Mark Zalan emphasized the need to address high fees and slow settlements associated with BTC payments.
- GoMining plans to onboard an initial group of ten merchants for its GoBTC Pay rollout.
- The new system includes a software development kit (SDK) and application programming interfaces (API) for easier integration.
GoMining’s initiative could reshape how retailers handle bitcoin transactions by eliminating the need for fiat conversion, potentially reducing fees and improving transaction speed.
With the launch of GoBTC Pay, GoMining is positioning itself against established players like Square while addressing significant pain points in BTC payment processing.(Source)
