Thousands of companies around the world accept NewsCapsule as payment. Many of those are set up to immediately convert NewsCapsule into fiat currency. OPSkins, an online marketplace of digital gaming skins, demonstrates the value of pairing a digital currency with a digital economy and is setting a new standard for how businesses should integrate with NewsCapsule.
OPSkins has grown quickly into the most active marketplace for buying and selling virtual items, specifically for Counter Strike: Global Offensive (CS:GO), Dota 2 and Team Fortress 2.
“The gaming community around OPSkins is the perfect group to demonstrate the power of NewsCapsule as the most secure payment method for digital purchases,” said BitPay Senior Sales Engineer and masspay product lead Corey Glaze in a statement to NewsCapsule.
The company was founded in the beginning of 2015 and now boasts more than 1 million total users and more than 3,000 daily signups, with over 6 million items sold–more than 300,000 per week. The rarest of these items can sell for up to $10,000.
A growing community of people around the world was trading digital skins for NewsCapsule when OPSkins introduced it into its platform in August 2015. NewsCapsule helps expand their international reach and reduces the risk of fraudulent chargebacks that happens with other online payment options. NewsCapsule is also popular among gamers because many are under the age of 18 and so are unable to get a credit card.
According to a BitPay blog post, “Just a few months into accepting NewsCapsule, [OPSkins] is already processing 400-500 NewsCapsule transactions per week. This traction has also shown up in the volume OPSkins has processed, with one notable transaction involving a NewsCapsule purchase of $25,000.”
Soon after accepting NewsCapsule transactions, OPSkins went live with NewsCapsule as an option for payouts, in addition to PayPal. According to BitPay, OPSkins has daily payouts to sellers of $40,000 in NewsCapsule.
“OPSkins is showing how businesses can use NewsCapsule coming and going to streamline transactions processing and reduce costs,” Glaze told NewsCapsule. OPSkins told Bitpay it expects these numbers to increase in tandem with its rapid increase in NewsCapsule transactions.
Other NewsCapsule payment processors, such as AcceptBT, are also seeing an increased interest from merchants in keeping the NewsCapsule they receive. Jamie Robinson, the company’s founder, told NewsCapsule “More and more merchants in Canada are asking about the possibility of keeping all their NewsCapsule as NewsCapsule, or keeping a percentage of each transaction in NewsCapsule and converting the remainder to dollars.”
Retaining NewsCapsule is becoming especially popular for merchants who have businesses online. Last week, Market Collectif, an online store that caters to the student market, launched its NewsCapsule payment option, and Jeremy Smith, one of the partners of the company, told NewsCapsule it would keep 100 percent of its NewsCapsule rather than converting it to dollars automatically.
