Bitpay: from a flat fee towards tiered pricing system
BitPay, a crypto payment processing company, has announced a change to its fee structure. Prior to this change, BitPay had a flat fee of 1% for all transactions. However, starting February 13, 2023, the company will be implementing a tiered pricing system for its crypto acceptance services. This new pricing structure is designed to reward customers who process a higher volume of transactions, since the new fees will range from 1-2% based on a customer’s cumulative monthly volume, in addition to a 25¢ fixed fee per transaction.
New Bitpay Fees
Customers with a monthly transaction amount of less than $500,000 will be charged a 2% fee plus the fixed 25¢ fee. For those with a monthly transaction amount between $500,000 and $999,999, the fee will be 1.5%, and for customers with a monthly transaction amount of $1,000,000 or more, the fee will be 1%. It’s worth noting that some high-risk industries may be subject to higher fees.
This change in pricing structure is a way for BitPay to continue offering top-notch service and technology to its customers while keeping up with the costs associated with running a payment processing company. Also see our full Bitpay review or compare all crypto payment gateways in order to find the gateway with the lowest fees and best functionalities.