Aeternity Hub Africa is a Nairobi-based blockchain startup and it has launched a cryptocurrency payment platform called BitPal. Aeternity Hub Africa’s BitPal Payment Platform aims to promote a cashless economy in Africa.
According to Aeternity Africa’s COO Frank Deya, the African continent has not been found to be majorly involved with crypto payments for businesses so BitPal will take money online where most people are currently spending their time and eventually drive up the level of crypto adoption.
“To date, payments and cross-border transactions are the most popular use cases that have been explored by blockchain. However, very few businesses in Africa have integrated an on-ramp to offer their customers the cryptocurrency option to pay for goods and services. BitPal will play a crucial role in driving mass adoption, generating new markets, and enabling a seamless cash-out gateway to thousands of merchants across the continent. We envision a not too distant future where the ‘Crypto Accepted Here’ payment button on an online store or a sign at a physical store is ubiquitous to BitPal,” Deya said. The Kenya-based BitPal is modeled as one of the projects that could soon drive crypto adoption and promote cashless economies across the continent.
BitPal is a payment platform that enables merchants to accept payments for the sale of goods and services in Bitcoin, Aeternity, Ether, Dash, and EOS. So far the target of the platform has been small, medium, and large businesses that operate online or physical stores. With BitPal’s easy-to-use, zero transaction fee platform customers simply have to choose from the cryptocurrencies options to pay for a product or service and a fixed rate of exchange is then generated. BitPal converts the cryptocurrency to the merchant’s preferred fiat currency once the payment is settled. The merchant can then cash out the payment to their bank account.
In an official statement, Aeternity Africa wrote: “BitPal is a ready-to-use platform. It takes away from the merchant the headache of setting up a wallet.” An automated API gateway for accepting payments in crypto and the point-of-sale that is accessible through a mobile or web application is one of BitPal features. The startup Aeternity Africa has already attracted four businesses that are interested in on-boarding the platform and plans to add more cryptocurrencies to its platform as well as include an MPesa option for merchants to cash out.
Credits – Angeline MbogoJOIN OUR COMMUNITY