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.
Bitmarket.ph is positioned as a payment processor, merchant directory and marketplace for merchants in the Philippines. Transactions are processed using real-time BTC to PHP exchange rates and successful transactions are remitted in as fast as 24 hours or the next banking day. Merchants are protected from the volatility of the Bitcoin price because they still get the cash value of their transactions. Bitmarket currently runs on a web app, Android tablet POS, API and now an SMS gateway.
With Internet connections in the Philippines recorded as one of the most expensive and slowest in the ASEAN region and most small business owners and mom and pop stores on tight budgets to acquire a POS, TxtPay makes it quick and convenient to transact with a digital currency.
John Bailon, Co-Founder and Chief Technological Officer of SCI says this of TxtPay: “Nobody really thinks about the “sari-sari” stores or bazaar and pop-up stalls, when it comes to electronic cash payments. With Bitmarket.ph’s TxtPay, we have established the SMS point of sale system to allow and enable all these smaller merchants to accept Bitcoin payments at a lower cost.”
SCI continues to be at the top of its game by creating such innovating systems to facilitate Bitcoin adoption in their country. They were the first company to bring in a Bitcoin ATM to the Philippines, as well as producing different products under their umbrella to promote Bitcoin awareness.
Bitmarket.ph (http://bitmarket.ph) is the first Bitcoin payment processor, marketplace and merchant directory for Bitcoin merchants in the Philippines. With the goal of furthering Bitcoin adoption in the Philippines, we enable merchants of all sizes to accept Bitcoin payments online from anywhere in the world.
Transactions are processed using real-time BTC to PHP exchange rates and cash conversions are provided in as fast as 24 hours or the next banking day. Merchants are also protected from the volatility of the Bitcoin price, as they still get the peso value of their transaction. Bitmarket runs on a web app, Android tablet POS, SMS gateway and API for varied merchants.
ABOUT SATOSHI CITADEL INDUSTRIES Satoshi Citadel Industries, Inc. (SCI) (http://sci.ph) a startup corporation that invests in Bitcoin, the first worldwide digital currency that is changing the way the people think about money. Launched last May 2014, it is the first and largest universal Bitcoin company in the Philippines. It boasts of 6 Bitcoin related products: Bitmarket.ph (Payment Processor), Rebit.ph (Rebittance Service), Coinage.ph (Order-Book Exchange), Bitstars.ph (Bitcoin Faucet), PrepaidBitcoin.ph (Prepaid Bitcoin Load Cards, and Bitoy the Bills Ninja (Bills payment service).