Last Updated on: 22nd November 2023, 06:31 am
In the coming months, you could be able to pay for your taxi with cryptocurrency, according to a statement from a key payment solutions provider.
Expected to begin with a beta rollout in November, it is hoped that 10,000 UK taxis and 20,000 taxis across Scandinavia will soon accept this kind of payment. HIPS Payment Group Ltd, a company who provide mobile payment solutions, has joined forces with The Payment House to make this happen.
The two companies are embracing each other’s technology in order to make safe, quick crypto transactions, such as this type of one, possible.
John Cavebring, CEO of Hips, discussed this development and its implications going forward.
He said: “With this important partnership, Hips provides another avenue for crypto payments to have market penetration. The consumer-oriented features of the MTO will further allow crypto currency to gain worldwide mass-adoption among mainstream consumers.”
The Payment House is described as a company that “delivers solutions to a wide range of business sectors, with its main focus on utilising the newest technology and the markets’ most advanced mPos solutions.”
A joint statement from the companies described the security in place, reading: “HMP, HMP-gateway and the governing Merchant Token (MTO) is a solution that introduces consumer protection concepts from the traditional card payment industry to the Ethereum blockchain, among others.”
