BitInstant’s press release announcing their expanded service offering was published by various media today. Excerpts:
"By simplifying this exchange, customers now just visit BitInstant’s website, print out a receipt, and deposit physical cash for the virtual currency at their nearest retail or convenience location. Bitcoins are credited to their account within 30 minutes."
"Bitcoin enables users to transfer funds instantly to any other Bitcoin account holder in the world. There is no middle-man or controlling entity."
"Instead of waiting 3-5 business days for a wire transfer across an ocean, Bitcoin transfers are immediate and have zero fees (for the most part). They also prevent merchants from suffering costly chargebacks, or requiring customers to expose personal information."
[Ediitor’s note: Through a partnership with ZipZap, cash deposits for processing through BitInstant can be accepted in the U.S. and U.S. Territories (e.g., Puerto Rico) at WalMart, 7-11, Moneygram locations (e.g., CVS) and many other locations. Boleto is the payment system for accepting payment from customers in Brazil.]