Bitchain technology is moving fast and capturing the attention of markets. Recently it launched its commission free payments with their Bitcoin ATMs. Bitchain installed a new bitcoin ATM in the municipality of La Jonquera, next to the Spanish-French border. This was the sixth bitcoin ATM operated by Bitchain at the moment. The company previously installed two machines in Barcelona, one in Hospitalet de Llobregat, one in Madrid and one in Athens.
At the Mobile World Congress of February 2016 Bitchain presented the APP Chip Chap, a universal wallet for criptomonedas that lets you manage different payment systems, acquire Bitcoins and exchange them for Euros or other currencies legal tender, transfer money safely or make payments and transfers from mobile, among other features.
Chip Chap is the most complete digital wallet world that can manage and interconnect the traditional banking platforms with virtual currencies like Bitcoin. Thus, you can buy Bitcoins and store. It will also allow, among other applications, further conversion to Euros and withdraw cash from ATMs traditional banking.
What is Chip Chap
Chip Chap is a company founded in Castellón specialized in different digital management services and money transfers. Chip Chap allows everyone to withdraw bitcoin from the cash machine. This is the first application that merges the new world of cryptocurrencies with the daily use money. Chip Chap is creating the first fast cash withdraw (FCW) solution that uses decentralized cryptocurrency such as bitcoin and secured bank system.
Born in an environment of collaboration and experimentation called Entropy Factory located in different houses in the village of Les Coves de Vinromá – Castellón (Spain), an “incubator” with a new socio-economic model that aims to revolutionize the economy and enhance the quality of life through decentralization, reducing intermediaries and innovation of technologies and processes. In such environment starts the collaboration between Lluis Santos and Vicent Nos, the founders of ChipChap and other payment media companies, who are added Amir Taaki, Pablo Martin (Caedes) and Peter Todd, founders of Darkwallet, internationally recognized bitcoin experts that represent the purest branch banking concept of emancipation. As part of this collaboration was a fair and accessible to everyone ChipChap economy also offer its services to extend the use of another cryptocurrency, faircoin, it in the second cryptocurrency with an international network of cash out at over 10,000 ATMs in Spain and Poland.
— Chip-Chap (@chipchapapp) June 10, 2016
ChipChap have an application on the market that allows you to use bitcoin and other prepayment methods in stores and also withdraw cash at different stores and ATMs in the world as said above over 10,000 ATMs in Spain and 4,000 in Poland are already available. It also has a global network with more than 18 payment methods integrated throughout the year as Paypal and Neteller and others. ChipChap becomes the biggest network on the planet to Cryptocurrency and the reference processor about payment methods using Cryptocurrencies. Thus, intended as a tool of interconnection between the Cryptocurrencies and prepayments to eliminate the wall of banking regulation, adapting to each country, following the AML / CFT standards.
Mexicans can buy Bitcoin From 5,000 Major Retailers with Chip Chap
Mexican residents can now buy Bitcoin at 5,000 retail locations. In Mexico, it is rather common for retailers to offer an E-Money converting service on their premises.
Mexican retailers are facing one major issue when it comes to doing business, and that is collecting revenue. In the news Mexico is plagued by acts of delinquency, brought upon merchants by the risk associated with cash transactions and processing card transactions is always associated with rather high fees. Also, most of the Mexican population does not even have access to a bank account.
A Mexican-based company Paynet integrated a tool that lets retailers provide a safe and fast payment solution to customers. And this new payment method is supported by several major commercial brand “chains”.
Not only does this new payment method by Paynet allow retailers to increase their overall revenue, but it also lets customers set up a flexible payment structure. Plus, in doing so, your brand has the right tools to grab a largest market share. It is through the Paynet infrastructure that Chip Chap now lets you buy Bitcoin from several major store chains.
The process itself is very straightforward, and can be used at major retailers such as 7-Eleven, Cefemex, Tiny Market and El Asturiano. Customers can generate a barcode with the Chip Chap mobile application, which will then guide you to the nearest participating retailer where you can redeem your Bitcoins.
Not only does this process make Bitcoin more attractive – and potentially popular – in Mexico, but it could also bring additional business and revenue to the participating retailers. With 5,000 locations participating from the start, Chip Chap is off to the races to stake their claim in the South American Bitcoin space.
Paying with Mobile- Chip Chap App
With Chip Chap app you can exchange money between Bitcoin, HalCash, PaySafeCard and Paynet.
The available conversions are as follows:
- Bitcoin to Halcash – Withdraw cash with your Bitcoins in 10000 spanish (euro) and poland (zloty) ATM
- Bitcoin to Bank Transfer – Send money directly into your bank account using your bitcoins.
- Bitcoin to virtual VISA card – Creates a virtual VISA card from your bitcoins and use it to pay in online commerces.
- Paynet to Bitcoin – Buy Bitcoins in Mexico (with pesos) directly at merchants that accept Paynet, generates the bar code and go to the nearest store in order to pay and get the bitcoins.
- EasyPay to Bitcoin – Change Euros for Bitcoin in greek ATMs. Choose the EasyPay service in the app, fill out the required fields and go to the closest ATM to deposit the Euros.
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, but users should be able to purchase bitcoin around the world. Right now, the app is available on Android and for iPhone users.
Chip Chap free app 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.
In Spain and Poland, once users have converted into their payment system of choice, the app leverages a network of existing ATMs that accept the vouchers, so that users can cash out of bitcoin at the ATMs