Dish to Accept Bitcoin as Payment29 May, 2014 By: Chris Tribbey
Starting in July Dish Network will begin accepting Bitcoin — the controversial peer-to-peer payment system and digital currency — as payment from its pay-TV subscribers.
Dish said the move makes it the largest company yet to accept the “cryptocurrency,” which allows consumers to pay for transactions without the need for banks.
“We always want to deliver choice and convenience for our customers and that includes the method they use to pay their bills,” said Bernie Han, EVP and COO for Dish. “Bitcoin is becoming a preferred way for some people to transact and we want to accommodate those individuals.”
Dish will use online payment processor Coinbase to facilitate transactions, which will convert Bitcoin payments to U.S. dollars. Currently one Bitcoin is worth nearly $570.
“We’re excited to support Dish and their current and new subscribers for their Bitcoin transactions,” said Coinbase co-founder Fred Ehrsam. “This is a large step forward in the growing momentum of customers paying companies in Bitcoin for things we do every day, like watching premium TV. As a Bitcoin payment processor, Coinbase will help Dish make the payment experience easy for our customers and make it easy for Dish to receive immediate credit in dollars, at an attractive cost for Dish.”