BitPay CEO Unveils Bitcoin Debit Card at Consensus 2016 Conference

BitPay unveiled today their new bitcoin debit card offering. The new card program was announced in a presentation by BitPay CEO Stephen Pair, at the 2-day blockchain conference Consensus 2016, currently being held in New York.

According to a CoinDesk report, the new card is issued by Metropolitan Commercial Bank and can be used in all 50 states. The card can be ordered by BitPay users for a price of $9.95 and can be loaded using any bitcoin wallet, or thought direct deposit via BitPay’s Payroll API, which allows US-based W-2 employees to have their salary paid in bitcoin.

In his presentation, Pair explained that BitPay has been experiencing a month-to-month increase in transaction volume since October of 2014. Pair also provided a chart showing a 100% increase in transactions from April of last year (60,000 records) through March of this year (120,000 records).

Pair said that there is no fee to load the card with funds, but mentioned that there is a fee to activate the card as well as various ATM usage charges.

 

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