Bitcoin is making headway in the remittance market, simply because it is a far cheaper option for sending money to anyone else in the world. Especially when comparing digital currency to traditional payment methods, there is a large margin of overhead fees that can be removed with a Bitcoin transaction. Satoshi Citadel Industries is building up their unbanked remittance service and have raised an additional US$100,00 in funding.
Philippines, 21st of September – Bitmarket.ph, a product of Satoshi Citadel Industries, Inc. (SCI), has just launched its new point of sale system “TxtPay”. The system utilizes SMS to allow merchants to accept Bitcoin payment for their transactions. Compared to some products like 37coins that allow receiving and sending of Bitcoin via SMS, and Text2pay which allows customers to pay via SMS, Bitmarket.ph’s TxtPay enables merchants to receive these payments without an Internet connection or an Android Tablet device.