Canadians Can Now Pay their Credit Cards Bills with Bitcoins

By Diana Ngo

Canadian startup YesToBitcoins.com announces a new service that allows local users to pay their credit cards bills using the digital currency.

"The idea came from asking, why can't I use bitcoins to pay my credit card bill?" explained YesToBitcoins.com's founder Darwin Ramon.

"The technology is already here, so why do I have to wait until the banks catch up?"

According to a company's release, Canadian residents are now given the ability to pay all Canadian credit cards, including 4 types of American Express cards, 23 MasterCards and 33 different VISA credit cards, with bitcoins. Bitcoin payments are processed by BitPay, and the credit card payment itself is done from PC Financial Bank, reads the announcement. 

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American Express Chief Ken Chenault Sees Potential in Bitcoin’s Technology

By Sydney Ember

Many Bitcoin supporters hope that the virtual currency will one day transform the payments system by enabling the nearly instantaneous transfer of value across the globe.

But Kenneth I. Chenault, the chief executive of American Express, isn’t quite ready to give in to digital money.

“The reality is, we compete with any form of payments” Mr. Chenault said on Thursday at the DealBook conference in Manhattan.”Everyone focuses on the displacement of Bitcoin and the credit card industry.”

But, he added, “there’s a reason credit cards were invented.” In particular, he said, people want the ability to defer payments.

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