Customers wanting to buy apps, games and videos from Microsoft Windows' online stores can now use Bitcoins as payment.The new service went live on Wednesday night.
To use the Bitcoins to pay for online purchases, a customer must create a Microsoft account then load the money. Customers can only load $100 of Bitcoins at a time and cannot be refunded. The money can be used to buy apps, games and other digital content from the Windows, Windows Phone, Xbox Games, Xbox Music and Xbox Video stores. The service is currently limited to U.S. customers, The Telegraph reported.
"Most Bitcoin transactions should process immediately. If it doesn't, please wait up to two hours for the transaction to complete before contacting support," said a support page on Bitcoin on Microsoft's website. "Money added to your Microsoft account using Bitcoin cannot be refunded, so make sure to review your transaction before paying with your digital wallet."
Microsoft has paired with the startup Bitpay to process the Bitcoin payments, but both have not announced any formal partnership yet. Techcrunch reached out to Microsoft and Bitpay but neither has responded yet.
Meanwhile, Forex reported that Bitcoin has reversed its losses after Microsoft made the announcement. The value started at $340 then surged to $353.98.
Microsoft is not the first to accept Bitcoin payments for online purchases. In July, Dell announced that it would start accepting Bitcoin payments with Coinbase as its pay processor. In St. Petersburg, Fla., about 100 businesses have accepted Bitcoin payments.
"I've been accepting bitcoin for months, even before the bowl game sponsorship," Patricia Francati, owner of Genaro Coffee Company, said in a press release. "It's the cheapest way for me to accept payment, and it attracts customers to my shop. What more could I ask for?"
"I like that the currency is universal," said Mark Ferguson, owner of Fergs Sports Bar and Grill. "Our area gets a lot of international tourists, and this gives those customers a way to pay without exchanging their money."
