Crypterium partners with Liquid Group to launch the first crypto-fiat QR payments in Singapore
Crypterium partners with Liquid Group to build the world’s first open platform facilitating instant cryptocurrency QR payments. With this, you can make your cryptos spendable just by scanning the QR codes at the participating merchants in Singapore.
Making payments by scanning QR codes has become a favoured payment trend in the cashless world and also a convenient and secure mode to check-out your everyday goods and services. With The Singapore Quick Response Code (SGQR) launched recently in Singapore, there is no doubt that QR code payments are gaining popularity and usage with both the consumers and the merchants. Asia is leading the way with over $1,65 trillion in transactions done via QR Codes in China alone in 2016. Meanwhile, one of the biggest payments platforms in India exceeded the number of 6 million merchants by the beginning of 2018.
Together with Liquid Group, a mobile payments technology company that enables QR payment services for e-wallets, banks and merchants, Crypterium is currently developing a new generation solution that aims to incorporate the most advanced payment solution in enabling users to make instant crypto-to-fiat payment by scanning of the QR codes.
With this, users can pay with their crypto at convenience stores or settle restaurant bills with a scan of the QR code at the participating merchants. It is notable that these merchants will continue to receive payments in fiat currency.
This technology will be rolled out in a controlled test environment in Singapore, to assess and augment specific technological implementation areas, such as end- to- end transaction speed management and, interoperability between multiple cryptocurrencies.
“We are very excited about this partnership as it allows us to expand the use of crypto in everyday life to Singapore that works towards becoming an innovative mobile payments country,” says Austin Kimm, COO at Crypterium. “Consumer interest towards cryptocurrency is also growing every day, thus we believe the option we offer will help merchants to maximise productivity and business outcomes by engaging with a high potential group of customers,” — he adds.
“We are glad to work with Crypterium to be the first in launching an interoperable cryptocurrency payments network,” says Jeremy Tan, CEO at Liquid Group. “We will be working very closely with our service partners and regulators to make the pilot a success.”
About Crypterium
Crypterium is building a mobile app that will turn cryptocurrencies into money that you can spend with the same ease as cash.
Shop around the world to pay with your coins and tokens at any NFC terminal, or via scanning the QR codes. Make purchases in online stores, pay your bills, or just send money across borders in seconds reliably and for a fraction of a penny.
Learn more at http://crypterium.com/ and join the discussions in Telegram Chat.
About Liquid Group
Liquid Group is a regional payments technology company which operates Liquid Net, a common payment acceptance platform that enables interoperable domestic and cross-border QR payment services for e-wallets, banks and merchants.
Founded in 2015, Liquid Group is headquartered in Singapore, with offices in Malaysia, Thailand, Indonesia and Hong Kong.
Corporate website: www.liquidpaygroup.com
