Amsterdam — Merchant service provider Verotel recently introduced Bitsafe — a new suite of affordable banking tools that allow adult merchants to handle their online business with more security, discretion, and safety — during the global Fintech conference, Money20/20.

Bitsafe tools include a unique IBAN, free talent and affiliate payments, a domain registration tool, a prepaid debit card and cash payouts. Another important change is that all processing settlements will be calculated daily instead of weekly. The outstanding balance will be available on demand, enabling Verotel merchants to receive their payments every day.

These tools, in addition to the company’s current service offering, will be available this summer.

“We believe that that the internet should be a place to engage in financial transactions, free from privacy infringement, identity theft and governmental control,” said Joost Zuurbier, CEO at Verotel.

“With the introduction of Bitsafe, we have found a new way for global merchants, adult talent, affiliates and alike to benefit from new upcoming European payment service regulations by providing them a Basic Payment Account that is fully compliant with European AML, PSD, PSD2 and GDPR regulations,” Zuurbier continued.

Starting July 2, all Verotel customers will automatically receive credentials to their new Bitsafe account. Merchants and affiliates, such as resellers and talent, will be able to open up a free Bitsafe account. These Bitsafe accounts are available to both individuals and businesses regardless of whether they are processing payments with Verotel or not.

Privacy is a key element for everyone working within the adult industry. With the introduction of the new European General Data Protection Regulation (GDPR) in May 2018, Verotel and Bitsafe allow you to register or transfer your domains while protecting your identity online. Domain names can be registered with Bitsafe at cost price, making this service the cheapest domain solution available. Bitsafe also offers additional privacy protection for a nominal fee that further safeguards your digital assets and ensures your continuity.

“Combining the trust in payments and domains makes perfect sense,” said Marcel Trik, managing director at Verotel.

“With Bitsafe we are not only protecting your money but also your digital assets in one single discreet account. We firmly believe that everyone should have the right to participate on the internet and conduct their business in a safe and secure environment,” Trik continued.

Also this summer, Verotel and Bitsafe will introduce two new exciting payment products allowing Bitsafe account holders to take their money out in cash. This is done by either using a prepaid debit card with PIN (accepted in most shops and ATMs worldwide) or receiving cash from a remittance agent.

“We are really excited to announce these new tools to an industry that is known to adopt new and innovative online technologies,” Zuurbier continued. “As a Fintech Scale-up, we understand the world of finance, identity and privacy and we combine these elements in one single brand. While adult businesses, talent and affiliates are marginalized by various parties across the world, Verotel will continue to serve the global adult industry from our European headquarters in Amsterdam – free from prejudice.”

Media may contact Alex Foster with questions via alex@verotel.com.