Enjoy no BitPay fees on your first crypto purchase via Simplex.
Terms and conditions apply. Not available in HI, LA, and NY. https://t.co/4acMB5U8x2
3.5/ 5
Our score
Good
Settlement
CryptoStablecoinsFiat
Settle in stablecoins
Yes
Self-hosted option
No
Business verification (KYB)
Yes
What is BitPay?
BitPay is a cryptocurrency payment processor and wallet provider founded in 2011. Its merchant service handles crypto checkout, invoices, refunds, settlements and payouts, while its app provides a separate self-custody wallet for buying, storing, swapping and spending crypto. BitPay says more than 1 million wallets have been created.
Company and backers
BitPay was founded by Tony Gallippi and Stephen Pair. The company is headquartered in Atlanta, United States. Reported funding includes $510,000 from angel investors in January 2013, $2 million led by Founders Fund in June 2013, $2.7 million from Horizons Ventures in December 2013, and $30 million from Index Ventures, RRE Ventures, Virgin Group, Richard Branson and Jerry Yang in May 2014.
How the gateway works
Merchants create a BitPay account and complete business verification before using the production service. The platform can generate hosted invoices and provides a merchant dashboard for payment status and refunds. Its developer materials include an API, an open-source WooCommerce plugin and an open-source Magento 2 plugin. The Magento integration includes an IPN endpoint that updates order status after payment confirmation.
Merchants can price orders in local currency and choose settlement in bank-transfer fiat, BTC, BCH, XRP or supported USD stablecoins through the WooCommerce integration. The wider service supports multiple networks, including Solana, Arbitrum, Optimism and Base. The separate BitPay app uses self-custody wallets, so wallet users control their keys rather than placing those app balances with BitPay.
Fees and availability
Payment amounts in the Magento 2 integration must exceed $1 USD. Geographic restrictions apply, and supported settlement currencies and payment methods vary by service and jurisdiction. Business verification is part of account setup.
Track record and risks
BitPay relocated its headquarters to Atlanta and announced seed funding in January 2013. It received a New York virtual currency license in July 2018. The company marked its 15th anniversary in June 2026, and its website reported 1M+ wallets created.
Merchants remain exposed to provider and settlement counterparty risk while funds are handled by the gateway. Crypto payments do not provide ordinary chargebacks. Incorrect or irreversible transfers can create refund problems. Volatility can affect funds before settlement. Regulatory or geographic restrictions can limit availability. A theft of 5,000 BTC occurred in December 2014; BitPay later sued its insurance provider over coverage.
Founders
Tony GallippiCo-founder
Stephen PairCo-founder
Best for:Ecommerce merchants accepting cryptoBusinesses needing fiat settlementWooCommerce and Magento storesMerchants offering crypto payouts
Pros and cons
Pros
- Fiat and crypto settlement options are documented
- Open-source WooCommerce and Magento 2 plugins
- Supports Solana, Arbitrum, Optimism and Base
- Includes invoices, refunds and merchant payouts
- New York virtual currency license since July 2018
Cons
- Business verification is required for merchant account setup
- Geographic restrictions apply across BitPay services
- Settlement options vary by integration and jurisdiction
- Merchants carry provider and pre-settlement volatility exposure
- A 5,000 BTC theft occurred in December 2014
Our review
3.5/5
Good
BitPay offers mature merchant settlement and ecommerce integrations, but its fee schedule, asset coverage and country availability require account-level confirmation.
BitPay is an established payment gateway founded in 2011 by Tony Gallippi and Stephen Pair, with headquarters in Atlanta and a New York virtual currency license received in 2018. Its backers include Founders Fund, Horizons Ventures, Index Ventures, RRE Ventures and Virgin Group. The company's operating record also includes a 2014 theft of 5,000 BTC, which led to litigation with its insurance provider over coverage.
Merchants using the WooCommerce plugin can settle payments through bank transfers in supported fiat currencies or receive BTC, BCH, XRP and USD stablecoins.
BitPay provides an API, developer documentation, an open-source Magento 2 plugin and an open-source WooCommerce plugin. The Magento integration handles sandbox testing, payment status updates and order refunds. Merchants using WooCommerce can display prices in local currencies and issue refunds through the BitPay dashboard. BitPay also provides hosted invoices and payout tools.
Merchant registration requires business verification. Geographic limits apply, requiring store operators to designate permitted countries inside the Magento configuration instead of referencing a global list. The gateway eliminates credit card chargebacks, yet transfers sent with incorrect addresses or amounts remain difficult to reverse. Merchant balances handled during settlement also involve counterparty exposure.
BitPay serves businesses seeking fiat or stablecoin settlement through prebuilt ecommerce modules. However, it is not configured for organizations that require a fully self-hosted gateway architecture. The companion BitPay App provides self-custodial storage for retail users, though merchant balances processed through the gateway remain custodial during processing.
Specs
| Settlement | Crypto, Stablecoins, Fiat · unverified |
|---|---|
| Integrations | Magento 2, WooCommerce · unverified |
| Invoicing | Yes · unverified |
| Mass payouts | Yes · unverified |
| Self-hosted option | No |
| Business verification (KYB) | Yes · unverified |
| Settle in stablecoins | Yes · unverified |
| API & SDKs | Yes · unverified |
Not disclosed by the provider: Processing fee, Coins supported, Recurring payments, Point of sale, Merchant countries.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
Hosted crypto invoices
Merchants can create BitPay invoices and track payment states through the merchant dashboard, including refunds.
Fiat settlement
The WooCommerce integration supports bank-transfer settlement in EUR, USD, GBP and other supported fiat currencies.
Crypto settlement
Settlement options listed for WooCommerce include BTC, BCH, XRP and USD stablecoins such as USDC.
Ecommerce plugins
Open-source plugins are available for WooCommerce and Magento 2, with a Magento IPN endpoint for order updates.
Merchant payouts
The developer documentation includes payout invitations and a flow for sending payouts to recipients.
Multichain payments
The service supports networks including Solana, Arbitrum, Optimism and Base.
Self-custody wallet
The BitPay app lets users store, buy, swap and spend crypto through self-custody wallets.
Inside BitPay
BitPay App
The self-custody app lets users store, buy, swap and spend crypto across multiple networks. It also supports gift cards and bill payments, with more than 1 million wallets created according to BitPay.
BitPay Payment Processing
The merchant service provides crypto checkout, hosted invoices, a merchant dashboard, settlements and payouts. Merchants can configure payment handling and use API tokens for integrations.
Magento 2
The open-source Magento 2 plugin adds BitPay checkout to Magento 2.4.6 or higher. It includes test and production endpoints, invoice status updates, refunds and a minimum transaction amount of over $1 USD.
WooCommerce
The open-source WooCommerce plugin accepts supported cryptocurrency payments and lets merchants price orders in local currency. It supports bank-transfer settlement in supported fiat currencies, crypto settlement and refunds through the merchant dashboard.
BitPay screenshots
What users say about BitPay
A summary of public reviews and discussions on third-party sites, checked Oct 17, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.
User reviews
No user reviews yet. Have you used BitPay? Share your experience below.
Funding and investors
$35.2MTotal raised
4Rounds
8Investors
-
Funding round May 2014 $30MIV Index VenturesVenture capital JY Jerry YangVenture capital RV RRE VenturesVenture capital RB Richard BransonVenture capital VG Virgin GroupVenture capitalSource
-
Funding round Dec 2013 $2.7MSource
-
Funding round Jun 2013 $2MSource
-
Funding round Amount undisclosed
FAQ
Who founded BitPay?
BitPay was founded in 2011 by Tony Gallippi and Stephen Pair. The company is headquartered in Atlanta, United States.
What are BitPay's merchant fees?
Fee terms depend on the merchant account or applicable service terms. In the Magento 2 integration, transactions must be over $1 USD.
Is BitPay available in every country, and does it require KYC?
BitPay has geographic restrictions and requires business verification during merchant account setup. The Magento integration also requires merchants to select the countries they want to support.
Is BitPay safe for merchants?
BitPay has operated since 2011 and received a New York virtual currency license in 2018, but a theft of 5,000 BTC occurred in 2014. The BitPay App is self-custody, while merchant processing involves provider and funds-held risk.
Which coins and networks does BitPay support?
The documented WooCommerce integration supports Bitcoin, Ether, Ripple, Bitcoin Cash and USD stablecoins, with settlement options including BTC, BCH, XRP and USD stablecoins. BitPay's multichain materials also list Solana, Arbitrum, Optimism and Base.
Does BitPay support ecommerce checkout?
Yes. BitPay provides an open-source Magento 2 plugin, an open-source WooCommerce plugin and API documentation for merchant payment processing. The plugins support payment status updates, invoices and refunds.
Latest from BitPay on X
🆕 Receive a 5% Boost on Select Gift Cards for October.
Check out the BitPay App to see which monthly gift cards are boosted.
📱Download the app here: https://t.co/jIgyLvdkf8
Terms of Use: https://t.co/Lmbxin19Az
Terms and Conditions Apply. Not available in HI, LA, and NY: https://t.co/FbZzJfjUzb
Check out the BitPay App to see which monthly gift cards are boosted.
📱Download the app here: https://t.co/jIgyLvdkf8
Terms of Use: https://t.co/Lmbxin19Az
Terms and Conditions Apply. Not available in HI, LA, and NY: https://t.co/FbZzJfjUzb
Cash App Pay is now available through @MoonPay on BitPay.
Eligible US customers can use their @CashApp balance at checkout when buying digital assets with MoonPay.
Terms and conditions apply. Not available in HI, LA, and NY. https://t.co/hnhEgKURQL
Eligible US customers can use their @CashApp balance at checkout when buying digital assets with MoonPay.
Terms and conditions apply. Not available in HI, LA, and NY. https://t.co/hnhEgKURQL
🆕 Receive a 5% Boost on Select Gift Cards for October.
Check out the BitPay App to see which monthly gift cards are boosted.
📱Download the app here: https://t.co/34lgDew6Uf
Terms of Use: https://t.co/GK7g9MpkzV
Terms and Conditions: https://t.co/3fV1d0gcCA https://t.co/9Wd8DBKF5y
Check out the BitPay App to see which monthly gift cards are boosted.
📱Download the app here: https://t.co/34lgDew6Uf
Terms of Use: https://t.co/GK7g9MpkzV
Terms and Conditions: https://t.co/3fV1d0gcCA https://t.co/9Wd8DBKF5y
🎟️ Save more on your next Concert, Game, or Show!
Get a 5% boost on Stubhub gift cards for October on the BitPay App.
📱Download the app here: https://t.co/34lgDewEJN
Terms of Use: https://t.co/GK7g9MpSpt
Terms and Conditions: https://t.co/3fV1d0gKs8
Get a 5% boost on Stubhub gift cards for October on the BitPay App.
📱Download the app here: https://t.co/34lgDewEJN
Terms of Use: https://t.co/GK7g9MpSpt
Terms and Conditions: https://t.co/3fV1d0gKs8
Recent public posts from @BitPay, shown as published. Not reviewed or endorsed by CryptoReview.
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