In order to apply for a merchant account with Instabill, prospective merchants seeking payment solutions, need to provide the necessary know-your-customer (KYC) documents. Once the merchant’s application is approved, merchants have the option of receiving payouts in Bitcoin from Instabill contingent on having/opening a Bitcoin account with a reputable Bitcoin wallet.
As an e-commerce payments pioneer, Instabill’s interest in Bitcoin and digital currency is consistent with the company mission that embraces new technology.
In September 2014, Instabill started offering banking options for digital currency companies and startups. The announcement that was welcomed as Instabill currently provides Bitcoin merchant accounts to several domestic and international Bitcoin merchants.
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