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Election 2024

ZipZap Resumes Cash-to-Bitcoin Services for UK Shoppers

ZipZap has formally reinstated its bitcoin buying service at more than 20,000 retail locations in the UK.

By Pete Rizzo
AccessTimeIconJun 24, 2014 at 12:57 p.m. UTC
Updated Aug 18, 2021 at 3:05 p.m. UTC
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Global cash transaction network ZipZap has formally reinstated its bitcoin buying service at more than 20,000 partner retail locations in the UK.

The news follows an abrupt halt of the company's digital currency services this March, when its UK-based payment processor PayPoint said it would require more regulatory clarification regarding bitcoin to support the offering.

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    • This resumed service is the result of ZipZap's new partnership with payments acceptance network Payzone. The Ireland-headquartered company has thus far indicated it does not share PayPoint's reservations about the burgeoning payment technology.

    Mark Mellor, director of sales and marketing at Payzone, said in the announcement:

    "We are very excited to partner with ZipZap and participate in the digital currency economy."

    Alan Safahi, founder and CEO of ZipZap, further told CoinDesk that the move marks an end to service interruptions for in-store digital currency buyers. He explained that the service has also been retooled to factor in feedback from a rocky first launch with PayPoint in December, stating:

    "When we launched, we had a lot of people going to stores and trying to buy bitcoin and they had trouble communicating to the retailers. [...] In order to do this right, we've had to do some marketing to the agents and employees. So, this time around we hope to do a better job of handling the messaging."

    Expanded services

    The news finds ZipZap aiming to expand its bitcoin services in line with its wider goal of providing both cash-in and cash-out services to digital currency consumers around the globe.

    Safahi suggests that beyond the troubles in the UK, ZipZap has global expansion in its sights, stating:

    "Overall, we'll have about 35 countries we'll have cash-in through our network to buy bitcoin. In the next few months, we're also going to be launching [new] countries for cashing out."

    This network, the CEO suggests, will be used to help position ZipZap to influence bitcoin remittance. While he was short on the details, he indicated that the company is currently examining major remittance markets and opportunities for tapping into the demand for potential bitcoin services there.

    A full list of countries where ZipZap services are available can be found on its official website.

    Long-term effort

    Speaking more broadly about macro developments in the bitcoin space, Safahi explained that he was not surprised by the decision of PayPoint to suspend its bitcoin support.

    He believes such complications with financial partners will be common for bitcoin businesses, at least in the short term, even if the ecosystem is primed for long-term success.

    Safahi explained:

    "In time they'll all come aboard. It just takes different companies, different kinds to come onboard to understand the great innovation that bitcoin is, [...] not just the currency but also the platform itself."

    Image via ZipZap

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