BitPagos logo

BitPagos is a payment processor focussed in Latin America, emerging markets and countries with weak currencies. The company was established in mid-2014 as a Bitcoin brokerage startup. It enables process credit card and bitcoin payments, settle in dollars to avoid volatility and payout via a wire transfer or bitcoins.


Main information

  • Country: United States
  • Headquarter: Palo Alto
  • Type: Payment Processor
  • Round: Seed
  • Cost: $0.03 million
  • Date: 1-Sep-2013
  • Investors: NXTP Labs

In order to its expansion strategy BitPagos at the end of 2015, has acquired Argentinian Bitcoin exchange Unisend Argentina.


Interview With Founder Of BitPagos, 8,000 Stores To Offer Purchase of Bitcoin in Argentina

BitPagos is a brand whose clients are, first of all, traders, it was aimed at providing B2B payments. Over the past year and a half, they are focused most of our efforts on users and consumers, so there is a need for a brand that is better suited to our mission.

BitPagos employees have discovered a new, not directly derived from bitcoin opportunity: using blockchain, digital cryptocurrency registry, The company has created a payment system that allows users to buy goods online without the need to use a credit card and without checking the creditworthiness. But neither the seller nor the buyer actually use bitcoins.

This is extremely important for emerging markets, because credit cards, the most obvious way to make purchases online, there is not at all. A alternatives such as cash on delivery are ineffective and have a high percentage of failures. In Latin America, for example, the proportion of the population with credit cards is below 20%. At the same time, millions of people are not clients of banks at all, i.e. they do not have Bank accounts.

Riplo Credit

The Ripio Credit system, developed by BitPagos, allows people to shop online without a Bank account and credit card.

Customers first enter some data including an identification number of a citizen, registration in social networks and address. The company claims that their system can run a credit check for one day or even faster. (Those who have a bitcoin wallet from BitPagos will be granted credit immediately, as they have a payment history.) After receiving permission for a loan, the client can choose one of the options of credit payments: among the proposed options may include deferred payment (for example, at the end of the month), or phased payment (monthly installments for six months).

The company BitPagos makes money due to the fact that charges little interest on such payments. At the same time, since transactions are carried out through the payment system of the company, without the involvement of conventional clearing and credit institutions whose services increase the cost of transactions, the company can significantly reduce interest rates for its customers.

Start-up does not share income with sellers, but the latter win in another. Since the share of on-line sales in Latin America is less than 2% of total sales, solutions of this type are extremely important for any company offering its goods or services online. Such solutions are designed to remove the main constraint on the income of these companies and allow companies to increase their share.

Ripio system is available in Argentina, but the company plans to expand the territory and cover first Brazil, and then other parts of Latin America. CEO Sebastian Serrano, a serial entrepreneur who had previously worked at the Argentine Ministry of Finance, said that emerging markets such as Africa and Asia, where banking services and credit cards were also available to only a small part of the population, formed the potential for further development.


Tools include email invoicing, virtual terminals, shopping cart integrations and an Android App

In the news

BitPagos boosts latin american bitcoin bet
BitPagos bringing bitcoin developing world
BitPagos – Una excelente alternativa económica Bitcoin para países en miras de desarrollo
Is Bitcoin the financial revolution Latin America needs
BitPagos allows Latin American merchants to avoid sky high payment fees by accepting bitcoin
BitPagos Raises $600,000 Seed Round to Boost Bitcoin Use in South America
BitPagos sella hito bitcoin para la region recibe usd 600k de inversion


BitPagos Official website
@BitPagos on Twitter

See Also on BitcoinWiki