Cryptocurrency Payment Era Arrives: BitoGroup Collaborates with E.SUN Payment to Launch “BitoPay”
In the past year, several Taiwanese exchanges have introduced cryptocurrency payment services in collaboration with merchants, allowing cryptocurrencies to be used not only for investment but also for daily consumption and payments.
BitoGroup, one of Taiwan’s two major exchanges, has now unveiled the key features of “BitoPay.”
BitoPay is a cryptocurrency payment tool launched by BitoGroup in collaboration with payment brand E.SUN Payment. It allows consumers to easily use cryptocurrencies for consumption and payments, while also enabling merchants to seamlessly integrate with the cryptocurrency market.
Currently, merchants partnering with E.SUN Payment can already utilize the services of BitoPay. In the future, BitoGroup will continue to expand its collaboration with merchants, thereby increasing support for cryptocurrency payments in local stores.
Consumers simply need to scan the QR code provided by the partnering merchant using the BitoGroup app to initiate the payment process.
By scanning the merchant’s QR code, consumers can access the payment page.
Consumers can choose to pay using three mainstream cryptocurrencies, namely Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
Consumers can currently choose from three mainstream cryptocurrencies for payment.
After entering the SMS verification code, the “Transaction Successful” page will appear, completing the process of the cryptocurrency payment transaction. Consumers can also view their transaction history on the BitoPro website or app.
Once the payment is successful, both the merchant and the consumer will see the respective pages confirming the completion of the cryptocurrency payment process.
Based on the actual on-site experience, the overall payment process of BitoPay is remarkably simple and fast. For consumers, the user experience does not differ significantly from using mobile payments.
As for the partnering merchants, BitoGroup will directly transfer New Taiwan Dollars to them based on each transaction order. This avoids any inconvenience or exchange rate risks caused by receiving cryptocurrencies. It ensures the convenience and diversity of transactions, while also providing merchants with an opportunity to tap into the cryptocurrency market.
Zheng Guangtai, the founder of BitoGroup, stated that the greatest significance of this collaboration is to gradually introduce users to the concept of cryptocurrency payments.
“Just like when AI arrived, we didn’t know how fast it would come. But once OpenAI was launched, there was an immediate increase in its usage. We can no longer take our time to contemplate it, so we need to plan ahead.”
️ Further reading:
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Temporary exemption of merchant transaction fees
To seize the opportunities presented by cryptocurrencies and target high-spending customer groups, merchants can now activate BitoPay in the E.SUN Payment member area. After passing the review process, they can quickly enable cryptocurrency payment functionality. The official launch also includes a promotion where merchants will not incur any transaction fees for using BitoPay until July 31st.
In other words, during this period, transaction fees for orders completed using BitoPay will be waived, allowing both merchants and consumers to have more diverse payment options and promote the application and convenience of cryptocurrencies in Taiwan’s market. After the free promotion ends, merchants will resume paying a 2% transaction fee.
BitoGroup has observed a growing demand for cryptocurrency payments among users recently. The second phase of the BitoPay service is already being prepared and is expected to open up to various other cryptocurrencies, including BITO Coin, later this year.