thecoinrepublic.com
- Xigem Technologies Corporation investigate and create cryptocurrency payment gateway
- FOOi will be strengthened and cryptocurrency-enabled, allowing it to leverage the most efficient and innovative technologies in an easy-to-use payment software
- Users of FOOi will be able to rapidly convert their funds to bitcoin and perform peer-to-peer transactions
Xigem Technologies Corporation, a technology provider for the burgeoning remote economy, revealed that it plans to investigate and create cryptocurrency payment gateway and processor capabilities for FOOi, the company’s recently acquired mobile payment app. FOOi’s primary features of facilitating digital payments through peer-to-peer and peer-to-business transactions will be extended once the extra functionality is complete.
FOOi will be strengthened and cryptocurrency-enabled, allowing it to leverage the most efficient and innovative technologies in an easy-to-use payment software that benefits both merchants and consumers. In addition to traditional or fiat currencies like US dollars, FOOi merchants will be able to use cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash for their company. Customers will be able to pay with bitcoin via FOOi, which will be integrated with the most major eCommerce systems.
Ease of exchanging funds
Users of FOOi will be able to rapidly convert their funds to bitcoin and perform peer-to-peer transactions, as well as use FOOi to complete payments on a checkout page. FOOi’s typical characteristics of ease of use, cheap transaction costs, complete transparency, and user privacy will remain.
The cryptocurrency payment gateway market is booming right now, and feedback from potential FOOi merchants keeps urging us to prioritise these improvements, said Anton Tikhomirov, Xigem’s chief technical officer. The company intends to expand on FOOi’s existing qualities to offer a unique payment app that can fulfil the changing needs of consumers and companies, says the company.
Driving user adoption
To encourage user adoption, the company wants to incorporate FOOi as a payment gateway across all Xigem products. When fully implemented, the new features are expected to attract a new set of businesses, as well as their customers. When another FOOi user is within range of the Bluetooth beacon, the FOOi Bluetooth Beacon technology will be expanded to allow cryptocurrency transactions.
More than US $1.5 trillion is kept in digital currencies, which are increasingly being used to buy products and services around the world. Payment systems that enable shops to accept Bitcoin and other digital currencies totaled US $1.42 billion in transactions in the three months ending in June 2021, up 133 percent from the same period a year ago, according to Chainalysis.