ForumPay, which enables customers to shop using cryptocurrencies, entered into a partnership with Sionic to expand the reach of crypto-to-fiat interchangeable payments in the US.
The collaboration will integrate crypto-to-fiat gateway with ecommerce platforms to enable consumers pay for their purchases using with their crypto wallets.
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As agreed, ForumPay will provide tokenised, end-to-end payment gateway processing services for crypto via Sionic’s digital commerce platforms.
The companies agreed to focus on integrating ForumPay’s gateway into Sionic’s ULink connected commerce and ION Commerce Engine (ICE) mobile platforms.
The step will enable merchants across the US to accept crypto payments.
To make such payments using ULink or through ICE-enabled mobile apps, customers can select their preferred currency, scan a QR code or click the payments link to complete the transaction.
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By GlobalDataThe ForumPay payment gateway converts almost all cryptocurrencies into US Dollars facilitating deposits into merchants’ bank accounts.
ForumPay co-founder and CEO Josh Tate said: “We’re excited to be opening crypto-to-fiat gateway services in the US by partnering with Sionic.
“Instant price determination makes crypto scalable against credit cards and we recognise the value of being able to offer this to merchants to attract new customers and increase sales.
“Giving millions of crypto wallet users access to merchants via Sionic’s digital and mobile commerce platforms supports our mission to enable and encourage the mass adoption of crypto in a payments environment.”
Sionic founder and CEO Ronald Herman said: “We’re very excited to partner with ForumPay to offer our merchants large and small a safe and simple way to tap the more than 170 million globally active crypto wallet users online or at the point of sale.
“Typically, 40% who pay with crypto are new customers providing an incredible customer acquisition opportunity for merchants. And, the cost to accept crypto is usually the same or less than traditional credit card payments.”
Based in Atlanta, Sionic provides connected and mobile commerce services for merchants.
