Visa and SatoshiPay Partner to Test Bitcoin Micropayments

Bitcoin micropayments startup SatoshiPay is working with Visa Europe’s innovation arm to develop a new concept.

Research into the project was announced earlier this year, when Visa Europe’s Collab said it was exploring bitcoin micropayments on connected devices. At the time, the company noted it was working on smart light bulbs that could automatically pay for electricity.

According to SatoshiPay founder Meinhard Benn, the concept involves integrating Visa’s card payment structure with SatoshiPay payment technology, allowing micropayments to be automatically made from an individual’s Visa account to a SatoshiPay wallet.

Benn said the concept is an exploration into creating a more secure way to buy small amounts of bitcoin using credit and debit cards.

“At the conceptual stage, we will create a more secure way to buy small amounts of Bitcoin using credit and debit cards,” he said. “Once fiat payments are complete, we will also integrate other local payment methods such as direct debit or real-time bank transfers.”

Benn said Visa plans to work with them to explore how these technologies can be applied to machine-to-machine payments and Internet of Things devices. Other plans include working with Visa's European Collaborative to conduct future user research on micropayments for web content.

The project is not Visa Europe Collab’s first foray into the bitcoin space. Last year, the company announced a partnership with Epiphyte to develop a remittance app concept.

Visa Europe declined to comment.