Love in the Time of Algorithms
Hip to Be Square
Good news, singletons: you can now spend your Bitcoins to help you get laid. OKCupid has begun accepting the popular decentralized digital currency as a form of payment. Payments will be accepted via Bitcoin wallet website Coinbase, according to an announcement on its blog.
Betabeat first reported two weeks ago that the IAC-backed site was considering accepting Bitcoins after a Reddit user posted a screenshot from an alleged OKCupid representative claiming that the company was looking to expand its payment options.
Visa and Mastercard have long dominated the retail payment business (after all, when was the last time you saw someone flaunting a Discover card?). But now, Dwolla*–which recently launched an NYC office–and the San Francisco-based Square may be collaborating to knock the two legacy institutions off their pedestal.
Quartz reports that there may be a deal in the works between the two–one that would benefit both merchants and customers. Square provides a way for businesses to process credit card payments without clunky POS systems; Dwolla allows users to instantaneously transfer money with a flat fee of $.25. By teaming up, the two could really give the dominant credit card processing companies a run for their money.