Chip Chap, the “e-money converter” app, released a new version that supports worldwide bitcoin purchases via credit card.
The beta app allows users to purchase bitcoin using the 3-D Secure protocol for Visa and MasterCard credit card transactions. There are processing fees. So far, the team has tested transactions in Europe, Russia, and the United States, but users should be able to purchase bitcoin around the world, according to Chip Chap CIO and co-founder Vicent Nos Ripolles. Right now, the app is available on Android.
Chip Chap is an “e-money converter” as it supports a variety of payment methods and vouchers, including Bitcoin, Ukash, and Paynet. When users click in to make a new transaction in the app, alongside these other cash-in and cash-out methods is a “Bank card” option:
Users enter the amount of bitcoin (in Euros) that the user wants to send to their bitcoin address then follow instructions from their credit card provider.
As far as vouchers go, the app supports payment systems that work in Spain, France, England, and Mexico. Chip Chap can be used at a total of 400,000 stores—those that accept these alternative payment methods and support the Chip Chap's API—worldwide. The smartphone app and a connection are all that are required to make the conversions between them.
And in Spain and Poland, once users have converted into their payment system of choice, the Android app leverages a network of existing ATMs that accept the vouchers, so that users can cash out of bitcoin at the ATMs. For example, this video shows the first Poland ATM transaction made with the app.
Last week, Chip Chap snagged a 1 million euro investment from Bitchain, the Spain-based Bitcoin ATM provider. The two companies share a lofty goal of creating and managing “the largest network of ATMs to sale and purchase Bitcoin in the world.”
The app is in beta. Users who experience any problems can notify Chip Chap.
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