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SpotOn Payment Platform Teams up with VaultBank to Let Online Shops Take Crypto

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Mon, 12/03/2018 - 18:01
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Yuri Molchan
SpotOn has entered into a partnership with VaultBank to enable merchants to accept virtual coins, including the first four from the top-10 list
SpotOn Payment Platform Teams up with VaultBank to Let Online Shops Take Crypto
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On Monday, the platform dealing with the processing of online payments publicized information of its new partnership with VaultBank, a blockchain startup which creates and trades financial tools. The new business union will allow merchants to accept crypto for their goods, including the first top four coins: BTC, XRP, ETH and XLM.

World of commerce in need of crypto

The president of SpotOn, RJ Horsley, believes that these days the digital market requires that a payment operator can take a wide range of payment means, including crypto. He intends to let merchants and customers use crypto without changing the SpotOn platform for a different payment processing system.

Besides, the new technology that comes from VaultBank will allow converting digital coins into fiat currencies — which will be convenient for merchants.

Paying in crypto is expected to make buyers happy.

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The new payment option

The new tool will enable clients to buy goods and services with digital coins of their preference, and merchants will be able to change these assets to fiat money or take the crypto on their balance.

In the future, SpotOn intends to add a feature of letting customers buy/sell or trading crypto on the platform.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.