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Cryptocurrencies

Payroc, Ethos to enable crypto payments at participating merchant locations

Tuesday 17 July 2018 | 01:38 PM CET

Payroc, a merchant services and payment processing organization, has teamed up with Ethos.io PTE to create a cryptocurrency merchant payment processing service.

The partnership will facilitate direct consumer-to-merchant crypto payments, encompassing common cryptocurrencies such as Bitcoin, Ethereum and Bitcoin Cash, as well as the Ethos token which acts as the gas for the Ethos ecosystem. Ethos Bedrock also abstracts blockchains, and therefore can support other cryptos such as Ripple and Litecoin.

The Ethos Bedrock cryptocurrency services platform will be integrated with Payroc’s payment gateway platform, enabling a “Pay with Crypto” button to be placed on merchant websites, giving consumers the option of paying with cryptocurrency in addition to traditional payment forms.

Benefits to participating merchants include instant crypto payments and settlement made directly from consumer crypto wallets, plus immutable transactions with no chargeback risk, according to the official press release. Consumer benefits include the opportunity to pay from mobile devices in cryptocurrency with the security and convenience of Ethos Universal Wallet’s decentralized self-storage that keeps tokens, coins and digital assets safe and secure on the blockchain.

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