New Feature: Send Interac e-Transfers to anyone from your Bitcoin Wallet
AnnouncementBylls

4 mins

5 months ago

Francis Pouliot
Francis Pouliot

CEO

New Feature: Send Interac e-Transfers to anyone from your Bitcoin Wallet

Send Interac e-Transfer payments to anybody in Canada funded with Bitcoin sent directly from your own Bitcoin wallet, and our biggest upgrades to Bull Bitcoin's payment services (Bylls) since 2013!

Bull Bitcoin’s bill payment services were launched over 8 years ago to encourage Canadians to opt-out of the legacy fiat banking system with Bitcoin.

Tens of thousands of Canadians now use our services every month to pay their bills and send bank transfers to anybody in Canada by paying invoices directly from their own Bitcoin wallet.

Since 2013, users can pay off any Canadian credit card and any of the 14,000 Canadian billers we maintain in our database. In 2017, we added the ability to register custom billers (personal payees) using the recipient’s bank account details.

And now, we’re finally making your Canadian bank account completely obsolete: you can send e-Transfers to anybody in Canada using only their email address or phone number!

We've been working hard on improving the user experience, and we're delighted to release three amazing new features:

  • Interac e-Transfer payment options
  • Sell Bitcoin to your account balance (or someone else's)
  • New payment recipients management dashboard (previously "my billers")

Interac e-Transfer

First, let's go over how it works:

  • Create a new recipient by adding their name and email address.
  • Create a default "secret question" and "secret answer", or choose a new one every time.
  • To create an e-Transfer order, simply select a recipient and add the dollar amount you want the recipient to receive.
  • Bull Bitcoin will generate a Bitcoin invoice for the amount you want to send.
  • Pay the invoice using your Bitcoin, Lightning Network or Liquid Network wallet.
  • Bull Bitcoin will send the Interac e-Transfer to the recipient.
  • You give the "secret answer" to the recipient.
  • The recipient will accept the e-Transfer and the money will be instantly available in their account.

Understand the implications of this: you can fully opt-out of the banking system in Canada, and you would be able to pay for everything you need using your Bitcoin wallet and Bull Bitcoin. Combined with our Credit Card payment option and our list of over 14,000 Standard Billers, it is hard to think of something that you could not conceivably pay using Bull Bitcoin.

Sell Bitcoin to Account Balance (or someone else's)

We are adding a new option when selling Bitcoin: receive the Canadian dollars in your Bull Bitcoin account balance, which you can use to buy Bitcoin on Bull Bitcoin at a later time.

You can also sell Bitcoin and add Canadian dollars to someone else's account balance. This can be used to facilitate payroll solutions: the employer sends Bitcoin to Bull Bitcoin, Bull Bitcoin adds the Canadian dollar amount to the employee's account balance, the employee can purchase Bitcoin at their convenience, or the employee can request a fiat withdrawal.

New Payment Recipients Management Dashboard

Bull Bitcoin is a powerful platform for all sorts of payments use-cases. We have created a new Payment Recipients dashboard that allows you to take full advantage of all of our payment features.

You create payment recipients of 5 different types:

  • Bank accounts
  • Credit Cards
  • Interac e-Transfers
  • Standard Billers
  • Bull Bitcoin account balances

A "Payment Recipient" is a combination of one of these payment methods, and some identifying information, that allows Bull Bitcoin to perform the payment. You can create these recipients by filling out a form (the information required depends on the payment method).

Examples of recipients:

  • your credit card
  • your mom's landlord e-transfer email
  • your gardener's bank account
  • your tax bills :(
  • your small businesses' electricity bill
  • your employee's Bull Bitcoin account

There is no limit to what kinds of recipients you can create!

We now also have a list of all your payment recipients, which makes it a lot easier for you to manage your accounting and budget.

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