Xpay, the crypto payment gateway powered by Panda Exchange

Anna Lezama
Nov 15, 2019 · 3 min read
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Panda Group, the blockchain projects conglomerate including Panda Exchange, continues providing solutions based on new digital assets, and our main purpose is to promote the access to them in everyday life. There is no doubt that, it is necessary for crypto assets to expand their admission in numerous points in order to become a coin used and adopted worldwide.

Xpay is a payment gateway that allows Latin American merchants open up to crypto assets, with a friendly interface, features that can be adapted for different kinds of users, with a platform that allows receiving crypto assets, and there is no need to worry about value fluctuations of these assets in the market

How does it work?

In or der to start accepting crypto assets through Xpay, it is necessary to register in the platform, where it is possible to find and use all the features this payment processor has to offer, after entering requested data and fulfill a verification process. In particular, the platform supports transactions in BTC, BCH, DAI, DASH and ZEN, and allows registered merchants to decide whether to keep part of the payment in crypto assets, or to fully convert them into local currency

At this moment, more than 100 locations spread across Colombia, Venezuela and Argentina have adopted crypto assets through this service. Locations accepting crypto assets through Xpay can be seen in the section “locations” in Xpay web page.

Bogotá and Cúcuta are the cities in Colombia with the highest number of locations with Panda Group’s payment processor, in the case of Venezuela, Caracas and Mérida stand out for the number of places opened up to crypto assets. Locations with Xpay can be found throughout these two countries, together with the first location in Argentina, this payment gateway is expected to keep on growing and expanding across Latin Amercica

A simple way to accept payments in crypto assets

Accepting payments through Xpay is a process that takes only a few minutes. The merchant defines the amount in local currency for the product or service, after that, they select an available currency for the payment, and finally the system generates a QR code for the client to scan it in order to sign and confirm the transaction. The received payment record can be seen by the merchants in the platform anytime.

Xpay charges a 3,99% fee of the transaction amount plus the VAT implied, for processing the payment, and except for this small percentage, the merchant receives the full amount of the operation. On the other hand, a request to withdraw funds from the platform can be made anytime, either for local currency or for crypto assets received through payments.

The gateway is not limited to manage payments in brick-and-mortar shops, because by using Charge Links that can be sent through social networks or messaging services such as Whatsapp, e-commerce sites can start receiving crypto assets via Xpay.

A boost for crypto community in Latin America

Achieving the decentralized economy desired by crypto community members is a goal that can only be accomplished through initiatives that help its adoption and generate real life use cases. Perhaps, some people unfamiliar with this industry do not understand the concept of these new financial technologies, and the idea of downloading a wallet and using a crypto exchange platform to accept payments in crypto assets may stop some merchant from accepting these assets.

The adoption of new digital assets is a gradual process, and the expansion of the bridge between them and traditional money will allow more people to enter this world more easily. It is evident that initiatives such as Panda Exchange make this happen by providing a friendly and safe environment where crypto assets trade is possible. Other projects from Panda Group such as Xpay or Panda Noticias, join our crypto exchange in the promotion of everyday use of these technologies or helping their adoption by spreading news.

The payment processor is expected to continue growing along with other projects from Panda Group, in order to change the way Latin American people accept and use crypto assets every day.

Panda Exchange Team

Panda Exchange

Plataforma de Intercambio de Criptoactivos

Anna Lezama

Written by

God’s Daughter by decision. Systems engineer by profession. Female entrepreneur by passion & conviction COO & CoFounder panda.exchange CEO mituannia.ventures

Panda Exchange

Plataforma de Intercambio de Criptoactivos con el objetivo de facilitar el acceso a esta tecnología en distintos mercados del continente y el mundo.

Anna Lezama

Written by

God’s Daughter by decision. Systems engineer by profession. Female entrepreneur by passion & conviction COO & CoFounder panda.exchange CEO mituannia.ventures

Panda Exchange

Plataforma de Intercambio de Criptoactivos con el objetivo de facilitar el acceso a esta tecnología en distintos mercados del continente y el mundo.

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