A South African payments service provider, Stitch, has reportedly launched a service which enables customers to settle transactions with crypto. Developed on top of the local crypto platform Valr’s application programming interface (API), this functionality makes it possible for customers to directly pay with bitcoin (BTC) or ether (ETH).

According to a statement released by Stitch on Nov. 21, the “pay with crypto” service makes it possible for customers “who wish to buy goods and services using crypto to do so directly, and the business will get settled in ZAR [South African rand].” For companies and merchants, using this service helps overcome concerns about the volatility of the two cryptocurrencies.

Commenting on the development, Blake Player, Valr’s head of growth, reportedly said:

“The Stitch integration expands the options Valr customers have to spend crypto balances in South Africa to the e-commerce market. We’re expecting high growth in the volume of crypto payments as it becomes more widely accepted.”

Meanwhile, the Stitch press release also identifies online marketplaces, e-commerce businesses, gaming and trading platforms as some of the businesses that stand to benefit from leveraging this new payment option. Similarly, local and international travel providers leveraging this service will be able to “appeal to a wider user base.”

For his part, Stitch President Junaid Dadan said the crypto payment option will accord clients “an opportunity to reach and serve this audience, without the need to take on direct volatility risk.”

Register your email here to get a weekly update on African news sent to your inbox:

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。