Chinese Retailer Surges 25% After Saying It Will Accept BTC

09 January 2018   653

LightInTheBox, online retailer which sells goods ranging from wedding dresses to electronic devices announced on January 5 that cryptocurrency is a legitimate means of payment on its main sites, LightInTheBox.com and MiniInTheBox.com. It is stated that all transactions would be processed through BitPay.

I’m glad to introduce bitcoin as a new payment channel to our customers. We think blockchain could potentially be an important technology for us.

Alan Guo
CEO, LightInTheBox

Right after the announcement the company saw its shares surge from US$2.38 to US$3.52 at the start of trading on Monday. The shares later retreated, finishing Monday at US$2.81.

LightInTheBox SharesLightInTheBox Shares

Before yesterday’s surge, the share price had shed 26% between early January last year and January 2, 2018.

However, LightInTheBox is not the only US-listed Chinese company to see its share price spike after announcing an interest in cryptocurrencies. Chinanet Online Holdings, a Nasdaq-listed internet company, surged more than 600% on January 4 after it said a day earlier it would collaborate with another Chinese firm to develop blockchain-related technologies.

iPayment to cooperate with Aliant Payment Systems

iPayment, Inc., a payment provider for small and medium-sized businesses (SMBs), today announced a partnership with Aliant Payment Systems
23 May 2018   74

This new partnership will allow iPayment to facilitate digital currency acceptance for merchants and their channel partners. 

Our goal at Aliant is to be one of the first adopters and facilitators of cryptocurrency in the traditional payments space. Partnering with an established, quality organization like iPayment helps us achieve that goal. We are looking forward to mutually moving into a new territory of block chain and cryptocurrency and providing our shared clients with an alternative form of accepting and processing secure, cost-effective payment transactions.
Eric Brown
Founder, CEO, Aliant Payment Systems, Inc.

Aliant Payment’s Crypto Processing Gateway provides merchants with the possibility  to accept cryptocurrencies like Bitcoin or Litecoin, in both digital and card-present environments.

The payments landscape is always changing. iPayment is continually pursuing partnerships with organizations that not only anticipate these changes, but develop innovative solutions to address them – and that is exactly what Aliant has done. We’re looking forward to cultivating this partnership and introducing crypto payment acceptance to our channel partners and adding it to our overall product offering.
Denise Tahali
Senior Vice President, Partner Sales, iPayment, Inc. 

From this new product innovation, iPayment is aimed on small business enablement and delivering efficient services and resolves for business developments. Aliant also lets e-commerce and mobile vendors worldwide to adopt different payment forms, and it provides a complete line of credit card machines, ATMs and payment technology. 

With the help of this collaboration, iPayment can now supply Aliant’s Crypto Processing Gateway to partners and merchants who wish to accept these forms of digital payments.