Crypto Project Growing Its Digital Asset Payment System
Crypto.com Pay announced on its blog its showcase in Hong Kong of the platform’s ability to provide instant cryptocurrency payments on existing merchant retailers.
Fee payments are not required by either the merchant or the customers. Customers will also be able to pay with over 25 cryptocurrencies supported by the platform. The supported cryptocurrencies include Ether and Bitcoin. If a customer pays with the platforms CRO Token, then the customer will be remitted a 20% instant cashback.
A video presented in the blog post shows how the payment system works. Essentially, it seems that it works like any other digital transaction. The customer chooses what they want to buy, the merchant scans the item, provides the price, and the customer then uses the application to choose the retailer.
Upon doing so, a barcode appears. The merchant scans the barcode and the payment goes through. The transaction also appears in the Crypto.com Pay application so that users can conveniently follow their purchase history.
The company plans to provide this payment system at over 100,000 locations in 2019. Further, this is not the only exciting development at the company. It also recently announced that its CRO Token will be listed on Indonesia’s Exchange, and that it will be partnering with Yoshugi Media Group to implement the Crypto.com Pay system.
Kris Marszalek, the company’s CEO and Co-Founder shared in the blog post announcing the partnership:
“Indonesia is a vibrant market with over 260 million people. We look forward to developing closer ties with both Indodax and the Yoshugi Media Group as we seek to serve our customers in the rapidly growing ASEAN market. We see Crypto.com Pay driving the adoption of cryptocurrency as a mode of payment and CRO token as the ultimate way to settle cross-currency payments instantly and inexpensively.”