BitPay Review 2026: Crypto Payments Gateway, App, Card, Fees, KYC & Availability
BitPay sits in a very specific lane: it’s the bridge between crypto and ordinary commerce. Not “trade 200 altcoins with leverage,” but “accept a payment, settle it, move on with business,” plus a consumer app that tries to make crypto spending feel less like a science experiment.
That focus is why BitPay keeps showing up in two places at once:
- Merchant side: checkout, invoices, plugins, payouts, settlement.
- User side: pay bills, buy gift cards, spend via card, and pay merchants that support BitPay invoices.
If your goal is utility—turning crypto into payments—BitPay is one of the most established options in the market.
Quick platform snapshot
| Category | BitPay at a glance |
|---|---|
| Founded | 2011 |
| Founders | Stephen Pair, Tony Gallippi |
| Current CEO | Stephen Pair |
| What it is | Crypto payments company: merchant checkout + invoicing + settlements + payouts; consumer app for spending crypto |
| Core merchant products | Online & in-store crypto acceptance, invoicing/email billing, settlements to bank, donation tools, crypto payouts (BitPay Send), APIs & plugins |
| Consumer products | Self-custody wallet app + browser extension, bill pay, gift cards, crypto debit card, buy/swap/sell tools (where available) |
| Merchant fees | Tiered: 2% / 1.5% / 1% + $0.25 per transaction (monthly volume based; higher fees may apply for high-risk industries) |
| KYC/AML | Required for many BitPay transactions/products (BitPay ID); merchants/donees are onboarded under AML requirements |
| Licensing/regulation | U.S. licensed money transmitter (state-by-state); licensed for Virtual Currency Business Activity in New York; EU operations via BitPay B.V. supervised by the Dutch Central Bank |
| Restricted regions | Sanctioned + unsupported country lists published by BitPay (plus US state-level limitations) |
1) Background: history, founders, leadership
BitPay was founded in 2011 by Stephen Pair and Tony Gallippi. The company is headquartered in the United States and is led by Stephen Pair (CEO).
Unlike exchanges, BitPay’s public narrative has always been about payments infrastructure: reduce chargeback fraud exposure, expand global payment options, and offer merchants a settlement path that doesn’t require them to become crypto traders.
2) Licensing and regulation (what BitPay is, legally)
BitPay operates as a regulated financial services business rather than a “pure software protocol.”
Key points BitPay publishes:
- In the United States, BitPay states it is a licensed money transmitter (state-by-state) and lists licensing disclosures (including a published NMLS ID).
- BitPay states it is licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services.
- For EU-facing services, BitPay states BitPay B.V. is registered with and supervised by the Dutch Central Bank under Dutch AML/CTF frameworks.
Practically, this matters because BitPay is compliance-forward: if you want the convenience of “pay any bill with crypto” or “buy gift cards instantly,” you should expect identity verification to show up more often than it would in a simple self-custody wallet.
3) Full list of BitPay services and products (complete catalog)
A) Merchant crypto acceptance (online payments)
BitPay’s core merchant stack includes:
- Hosted checkout (BitPay invoice flow for customers)
- Payment buttons / pay links for simple implementations
- E-commerce integrations via plugins for platforms like Shopify, WooCommerce, Magento, BigCommerce, and others
- REST APIs and SDKs for custom checkout experiences
Invoice mechanics: BitPay invoices are time-sensitive and typically expire after 15 minutes, with exchange rates locked during the invoice window.
B) In-store payments (POS)
For retail scenarios, BitPay supports in-person acceptance through checkout/POS-style flows designed for QR-based invoice payments.
C) Email billing / invoicing
BitPay supports:
- Email billing and invoice requests (useful for B2B and services businesses)
- Customer pays an invoice in supported crypto within the invoice window
D) Settlements (getting paid)
Merchants can settle proceeds:
- To a bank account in fiat currency
- In cryptocurrency
- Or as a mix of fiat and crypto
BitPay also publishes support for major fiat settlements (including USD/EUR/GBP) and crypto settlement options (including BTC/ETH/USDC), depending on the merchant setup and region.
E) Stablecoin payments
BitPay supports stablecoin-style payments through supported networks/tokens (notably Ethereum and Polygon token ecosystems), allowing customers to pay invoices using token rails where supported.
F) Crypto payouts (BitPay Send)
BitPay Send is positioned as a business product for:
- Mass payouts (payroll, affiliates, contractors, creators)
- Vendor/customer payouts
- Global distributions in supported cryptocurrencies
G) Crypto donations
BitPay offers merchant/donee-style donation tooling for nonprofits and fundraising campaigns (invoice-based donation payments).
H) Exchange rates and pricing tools
BitPay provides exchange-rate tooling used to calculate invoice totals, lock prices during invoice windows, and support settlement conversions.
4) Consumer products: BitPay app ecosystem
A) BitPay Self-Custody Wallet (mobile app)
BitPay offers a self-custody wallet app where the user controls keys. Core features include:
- Store, send, receive crypto across supported networks
- Portfolio-style management
- Built-in flows for spending and payments (BitPay-powered features)
B) Browser extension
BitPay also provides a browser extension designed for payments and commerce-style crypto flows.
C) Pay Bills (bill pay with crypto)
BitPay supports paying a wide range of bills (including credit cards and mortgages) using crypto through its bill pay product, subject to geographic restrictions and verification requirements.
D) Gift cards
BitPay sells gift cards from major brands through its app/extension checkout flows, paid with supported cryptocurrencies.
E) Crypto debit card (BitPay Card)
BitPay offers a crypto debit card product that converts crypto into spendable fiat at the point of use (availability depends on region and eligibility). It’s positioned for everyday spending wherever the card network is accepted.
F) Buy / swap / sell (where available)
BitPay advertises the ability to buy, swap, and sell crypto through the app/website experience, generally via integrated rails and partners. Availability and supported assets depend on location and compliance constraints.
G) Merchant directory
BitPay maintains a directory of merchants where users can spend crypto, plus “pay with BitPay” style invoice flows at participating merchants.
5) Supported cryptocurrencies (what BitPay accepts for invoices)
BitPay states invoice payments support:
- Bitcoin (BTC) on-chain and Lightning
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Dogecoin (DOGE)
- XRP
- Ethereum (ETH) and Ethereum tokens (including stablecoins)
- Polygon (POL, formerly MATIC) and Polygon tokens (including stablecoins)
BitPay also publicly discusses broader expansion to support “100+ coins and tokens” for payments overall, but invoice payment support follows BitPay’s published invoice-eligible list and token/network coverage.
6) Fees and costs (clear, merchant-first)
A) Merchant processing fees (published tiered pricing)
BitPay’s standard merchant processing fees are tiered by cumulative monthly volume:
- < $500,000/month: 2% + $0.25 per transaction
- $500,000–$999,999/month: 1.5% + $0.25 per transaction
- ≥ $1,000,000/month: 1% + $0.25 per transaction
BitPay notes higher fees may apply for high-risk industries.
B) Network fees
Customers pay normal blockchain network fees (gas/miner fees) when sending payments. Those are separate from BitPay’s processing fees.
C) Invoice timing cost (15-minute window)
Invoices are designed with a 15-minute rate lock and expiration. If a customer misses the window, the invoice must typically be regenerated and paid again at the new rate.
7) KYC and AML (what’s required, and when)
BitPay is explicit that ID verification may be required for transactions that use BitPay’s services.
Key published behavior:
- BitPay states it may require a BitPay ID for “any transactions using our service,” including paying a BitPay invoice, buying gift cards, and using BitPay products.
- Merchants (and donation recipients/donees) are onboarded under AML/CTF requirements, meaning BitPay collects business and beneficial-owner information as required by regulation.
Important distinction:
- A “self-custody wallet” can exist without KYC in general, but BitPay-powered commerce flows frequently involve verification because BitPay is a regulated payments provider.
8) Availability and restricted jurisdictions
BitPay publishes two layers of geographic limits:
Sanctioned countries/territories (published list)
- BitPay lists sanctioned jurisdictions including: Belarus, Congo (Republic of the Congo), Cuba, Iran, Iraq, Ivory Coast, Liberia, Myanmar, North Korea, Sudan, Syria, Zimbabwe.
- Unsupported countries/territories (published list)
- BitPay lists additional unsupported jurisdictions including: Algeria, Bangladesh, Bolivia, Brazil, British Virgin Islands, Cambodia, Cayman Islands, China, Croatia, Egypt, Hong Kong, India, Indonesia, Japan, Kyrgyzstan, Nepal, Nigeria, North Macedonia, Pakistan, Palestine (Occupied Palestinian Territory), Russia, Serbia, Singapore, South Africa, South Korea, Taiwan, Turkey, Ukraine, United Arab Emirates (merchant restrictions noted), Vietnam.
BitPay also notes:
- The list may change, may be non-exhaustive, and US availability can vary by state.
Who BitPay is best for
- Merchants who want crypto checkout with bank settlement and predictable fees
- Businesses that want email invoicing and mass payouts in crypto (payroll/affiliates/contractors)
- Consumers who want “crypto spending utilities” like bill pay and gift cards
- Anyone who prefers a compliance-forward provider over a pure “anonymous payment link” experience
FAQ
- What is BitPay, exactly?
BitPay is a crypto payments company that provides merchant checkout, invoicing, settlement to bank accounts, and business payouts—plus a consumer app for spending crypto. - Who founded BitPay?
BitPay was founded in 2011 by Stephen Pair and Tony Gallippi. - Who is BitPay’s CEO?
Stephen Pair is the CEO. - Is BitPay an exchange?
No. BitPay is primarily a payments provider, not a trading exchange with an order book. - What fees does BitPay charge merchants?
BitPay publishes tiered merchant processing fees: 2% / 1.5% / 1% + $0.25 per transaction, based on monthly volume (with higher fees possible for high-risk industries). - Why do BitPay invoices expire?
BitPay invoices are typically valid for 15 minutes. The exchange rate is locked during that window to reduce volatility risk. - Does BitPay require KYC?
Often, yes. BitPay states it may require a BitPay ID for transactions using its services, including invoice payments, gift cards, and BitPay products. Merchants are onboarded under AML requirements. - What cryptocurrencies can pay a BitPay invoice?
BitPay states invoices support BTC (on-chain & Lightning), BCH, LTC, DOGE, XRP, ETH + Ethereum tokens (including stablecoins), and Polygon + Polygon tokens (including stablecoins). - Can merchants settle in fiat?
Yes. BitPay supports settlement via bank deposit in fiat, settlement in crypto, or a mix of both, depending on merchant configuration and region. - Which countries are restricted?
BitPay publishes lists of sanctioned and unsupported jurisdictions (and also notes US state-specific limitations). If your country is listed, BitPay services may not be available.