Verotel Now Accepting Bitcoin

Rhett Pardon

AMSTERDAM — Internet payment service provider Verotel is now accepting bitcoin payments through

The bitcoin payment option currently is in beta for some merchants; all Verotel clients will be able to use it by March 15.

"No credit card needed to access adult content online is a no-brainer," said Jason Collins, Verotel's vice president of business development. "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."

Integration of bitcoin in the Verotel platform is already done, Collins said. Merchants can simply enable the bitcoin payment option in the Verotel Control Center.

Verotel takes a flat fee of 1 percent of all bitcoin transactions, and payments are scheduled weekly payable in U.S. dollars, euros or British pounds.

Verotel, however, isn't using bitcoin as a payout currency for now, only because of its volatile exchange rate. Instead, bitcoin transactions are converted into each individual merchant's currency at the time of the transaction.

Tony Gallippi, BitPay co-founder and CEO, said that he believes that BitPay's order volume will increase significantly with this new partnership with Verotel.

"We are proud to share our powerful, reliable and scalable tools to accept bitcoin with the high risk industry," he said.

Verotel is based in Amsterdam, with offices elsewhere in the Netherlands and in the U.K. and Czech Republic. Verotel, established in 1998, processes credit card transactions in more than 60 currencies from 50,000 online clients.