The Payment Protocol standard enables secure payment requests, secure payment destinations, and payment experience improvements. These include payment recieved notifications, pre-determined refund addresses, and secure proof of payment.
1. True Wallets
True Wallets are bitcoin wallets with which users control the keys to their own bitcoin.
To send bitcoin, wallet software uses a secret key, much like a password, to move the bitcoin. The new owner's wallet software then stores its new secret key.
Account services manage a bitcoin wallet on behalf of users, much like a bank manages a customer's funds.
Account services can be used as bitcoin wallets, though users should keep in mind many of these institutions do not insure consumers from the loss of deposits via theft, fraud, or bankruptcy. It is also not uncommon for account services to delay sending bitcoin, which can slow down purchase experiences and cause unnecessary hassle for users.
If you are trying to make a payment from one of these services to a BitPay invoice, and the payment hasn't been sent, we recommend contacting the institution's support services. If you are unsure about the status of your payment, please feel free to contact our support team.