In Brief
- Rappi to start crypto payment service in Mexico through BitPay and Bitso.
- The partnership will help Mexico users to use debit cards to buy crypto services using the Rappi app.
- For now, the crypto payment option is exclusively available in Mexico.
- The firm did not undisclosed why they exclusively chose Mexico for their crypto.
Rappi, a Colombian on-demand delivery company with operations in nine Latin American countries, has launched a crypto payment system in Mexico. As per the report on April 11, the firm partnered with BitPay, a crypto payment service provider, and Bitso, a Mexican digital asset exchange, to establish the crypto service. The crypto payment service would allow Mexican users to utilise crypto on their debit cards to buy products and services using the Rappi app.
Despite operating in Colombia, Costa Rica, Peru, Ecuador, Chile, Argentina, Uruguay, and Brazil, the firm could not explain why it chose to debut the crypto payment option in Mexico exclusively. Furthermore, the firm has not said which cryptocurrencies it would support.
Rappi’s President, Sebastian Mejia, reacted to the proposal by saying:
“We are studying the crypto world with interest and believe that the future is the intersection of the crypto world with non-crypto companies.”
He went on to say:
“It’s a first step that will allow us to learn and continue incorporating the crypto world into Rappi.”
Rappi introduced Pay with Rappi last year in Mexico, providing clients with a convenient option to make online payments. With this debut, Rappi aimed to compete with PayPal and MercadoLibre, a regional rival.
BitPay continues to assist more businesses with crypto adoption
BitPay has been instrumental in assisting large and small companies throughout the world in adopting cryptocurrency payments. BitPay implemented the Lightning Network in April to assist in simplifying transactions in the main cryptocurrency. Tony Galippi, the BitPay co-founder, stated that the Lightning Network connection allows customers to have additional payment alternatives and merchants to have more methods to get paid using blockchain technology.
BitPay’s integration has also provided a new path for Bitcoin to enter the mainstream. To accept Lightning Network payments, BitPay merchants will not need to make any changes to their present installations.
More significantly, both merchants and their customers will have quick BTC transactions with cheap costs, making it simple to utilise BTC for everyday purchases.
