Simplex is a cryptocurrency fintech company, providing worldwide online merchants with a fraudless payment processing solution. It is currently focused on the cryptocurrency ecosystem, and serves exchanges, brokers and wallets. Simplex is collecting multiple data points on every transaction and every user. Using this data, Simplex's AI machine learning algorithms correctly analyze and assess if a certain transaction is too risky. Then, it employs in-flow verification mechanisms to decrease fraud while increasing conversion. Today Simplex prevents fraud on transactions totaling tens of millions of dollars each month. Founded in 2014, Simplex started operating in the bitcoin ecosystem, and is soon expanding its services to the e-commerce industry.
- StatusNot Verified
- Form of BusinessCompany
- In Business Since2011
Business Description
BitPay was founded in 2011, while Bitcoin was still in its infancy. We saw the potential for bitcoin to revolutionize the financial industry, making payments faster, more secure, and less expensive on a global scale.
We started BitPay because we wanted to make it easy for businesses to accept bitcoin payments. We are currently the largest bitcoin payment processor in the world, serving industry-leading merchants on six continents. We've created a seamless, secure bitcoin payment experience used daily by hundreds of thousands of bitcoin users.
Payment processing was our first contribution to the Bitcoin ecosystem, but it is not our last. With Bitcore, we're building an open source platform to power the next applications of Bitcoin. The BitPay secure bitcoin wallet is giving consumers a powerful toolkit for getting started right with bitcoin payments, and the BitPay Card gives bitcoin users a fast way to convert bitcoin into dollars and spend their funds anywhere Visa® is accepted.
Bitcoin's future looks very bright, and we plan on remaining on the forefront of this technology, creating more tools and services for everyone to use in innovative new ways.
