SNAP Interactive has announced its intention to start offering Bitcoin as a payment option.
Announced in a press release yesterday, the dating company said it will be rolling out the cryptocurrency payment option on two products in the SNAP portfolio in early August.
Bitcoin payments will become available on Camfrog and Tinychat, but SNAP said it has plans to roll out the digital payment offering across its entire portfolio.
As for why it is introducing the payment option, SNAP said it hopes it will boost use of its products among international users, while also bringing lower fees for these international payers and helping to reduce chargebacks.
Further to this, SNAP said it wants to allow broadcasters on its live streaming service to be able to receive payments in cryptocurrency.
SNAP CEO Alex Harrington said: “Since inception, SNAP has been an early adopter of innovative technologies to build a differentiated experience and loyal customer following.
“We’ve learned that a digital currency payment option would better serve our global user base, allowing easier access to the premium features and functionality of our live video platforms.
“We are big believers in the revolutionary impact of blockchain technology in support of digital currencies and other innovations, and will be looking forward to further blockchain and cryptocurrency integrations in the future.”
OkCupid was one of the first to allow bitcoin as a payment option for its A-list subscription service, OkCupid co-founder Sam Yagan saying at the time that “there’s no question that these digital currencies are going to be the future.”
Badoo also added bitcoin in 2015, rolling the payment option out in 20 countries to pay for premium features.
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