Merchant Site PayIvy.com Acquired by Digital Currency Investor Newnote Financial
After its recent purchase of the bitcoin exchange Cointrader.net, Canadian company Newnote Financial has now moved into the multi-vendor website market. On May 12, 2015, the Vancouver-based corporation announced its acquisition of PayIvy.com, an online site that allows vendors to register and sell digital products and services, including ebooks, software, graphic designs, web designs and intellectual property.
PayIvy co-founder Lode Kennes says in apress releasethat the company hopes to better reach its potential following the acquisition.
“With the investment from Newnote, PayIvy will be able to serve more sellers with features that no other site can offer,” he said.
Kennes, along with co-founders Ton Manh Nguyen and David Snyder, will stay on at PayIvy to assist with daily operations and development.
“This is a very strategic acquisition for Newnote,” said Newnote CEO and President Paul Dickson. “Each of our services will be integrated into one another utilizing our APIs.”
Besides Cointrader.net, Newnote also owns and operates the CoinExchange Android app, Coinpayments.net, and the BitVisits.com paid-to-surf advertising platform, in addition to several other cryptocurrency-related assets.
“Merchants can now set up shop with PayIvy.com, accept payments through Coinpayments.net, convert bitcoin to cash on Cointrader.net, and transfer the funds into their bank account or remit overseas instantly,” says Dickson. On April 24, 2015, Newnote announcedthat it had signed a strategic partnership with Rebit.ph of the Philippines to enable remittances.
PayIvy merchants are also able to protect their digital wares from online piracy and other unauthorized software distribution and sharing. Custom fields enable customer data collection and an advanced affiliate program is available for sellers looking to promote their products. The site accepts various crypto-currencies, including bitcoin, litecoin and omnicoin via Coinpayments.net.
Dickson stressed Newnote’s commitment to cracking down on recent illicit sales of Netflix and other accounts through the PayIvy site.
“Our priority is to protect intellectual property,” Dickson said in a telephone conversation with Bitcoin Magazine.
In its first six months of operation, PayIvy has registered over 10,000 merchants, processing over $200,000 per month in sales. Newnote reports paying a purchase price of CDN $260,000 in cash and stock.