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A move by Payza to offer new Bitcoin services will take the digital currency a step closer in its disruption of the global remittance sector.
A move by Payza to offer new Bitcoin services will take the digital currency a step closer in its disruption of the global remittance sector. It includes instant Bitcoin-fiat exchanges and the option to hold Bitcoin alongside fiat currency in its eWallets.
The global payment platform, whose mobile app has been made available on Apple iOS this month and downloadable from the App Store, announced the new service on its network on Monday, May 15.
Its focus on countries with high remittance rates could be its joker. From China to India and Mexico, the platform has a payment service already in place. This could facilitate the spread of Bitcoin in some of these countries.
Payza recently launched a new funding method in China which makes online transactions in Chinese yuan available to residents.
A similar service was also launched in Mexico where the peso is now made an available currency on the Payza platform.
Earlier in March, it teamed up with India’s popular household utility and telecommunications service providers including Airtel, Tata Sky and Vodafone for the initial launch of its online Utility Bill Payments service for Indian customers.
Firoz Patel, Payza's global executive vice president, stated:
“Today, we fulfill our promise to our members and are now able to treat Bitcoin like any other currency we deal with. This means that every Payza member can now hold Bitcoin in their eWallets, and send and receive Bitcoin throughout our network, just like they would with USD, Euros or Sterling."
The service enables Payza members to hold their Bitcoins directly in their eWallets without the need for a separate Bitcoin wallet to perform exchanges to or from fiat currencies. Members can also send and receive Bitcoin to and from other members instantly.
The Payza announcement comes as the largest online bank in Norway, Skandiabanken, reportedly launched a new feature - still in a beta phase - that allows customers to log into a third-party user interface of Coinbase to get Bitcoin through the bank’s website.
Speaking to E24, Head of Innovation and Development at Skandiabanken, Christoffer Hernæs, argues that more and more Norwegians are eyeing the digital currency saying they have realized that Bitcoin is something people want to put their money in and they think it is a better approach rather than perceiving it as scary.
Stephan Nilsson of the Bitcoin Association of Norway praises the bank’s move deeming it to be the positive signal they have been waiting for.
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