Colombian Food Delivery App Accepts Crypto Payments
BitPay and Bitso have teamed with a Colombian delivery app that operates throughout Latin America to take cryptocurrency payments.
With the inevitable growth of technology assets, more merchants and businesses have been examining their underlying technology more closely. According to a Reuters report, Colombian delivery app Rappi is one of the most recent companies to try crypto payments.
Sebastian Mejia, the company’s president, said:
“It’s a first step that will allow us to learn more about the crypto world and continue to incorporate it into Rappi,”
Currently, the company has 200 locations across nine countries. Rappi has served consumers since 2015 and has a monthly active user base of 10 million. Financial services are also provided by the Colombian firm in Chile, Mexico, Peru, and Brazil.
Rappi’s newest partners aren’t strangers to the crypto world. Bitso is a cryptocurrency exchange established in Mexico that has been in operation since 2014. Chivo, the digital wallet designed by the government of El Salvador for the usage of bitcoin throughout the country, uses the platform as its key crypto-service provider.
BitPay, situated in the United States, is a Bitcoin payment service provider. Rappi isn’t the company’s first cryptocurrency partner. BitPay partnered with Verifone Holdings in September 2021 to enable crypto payments to the electronic payments company.
Because many well-known merchants use Verifone’s technology, this collaboration facilitated access to the next generation of money for many of the brands.
Stripe, a payment provider for e-commerce enterprises and mobile apps, is another large name to join the movement.
Until 2018, the company accepted Bitcoin payments, however due to hefty transaction fees, it stopped doing so. Stripe, on the other hand, resumed digital currency payments last month.
The company would provide crypto businesses “not just pay-ins but payouts, KYC and identity verification, fraud prevention, and lots more,” according to co-founder John Collison.
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