This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
ZoidPay, a cryptocurrency start-up with offices in Romania, Cyprus, and Hong Kong, has launched a nifty platform that lets consumers shop and pay in crypto at over 40 million major online retailers worldwide, including Amazon, eBay, and Alibaba.
The "Shop Anything from Anywhere with Crypto," team is zeroing in on an untapped market, a full-crypto payment shoppers' platform that is usable in everyday life. ZoidPay relies on a practical ecosystem designed to benefit users in every way, ensuring a smooth, enjoyable shopping experience that works with most major retailers.
How ZoidPay Works
The platform features three main components to operate smoothly, a crypto payment card, digital wallet, and built-in marketplace (aka shoppers' paradise).
Its crypto card lets shoppers make contactless payments with their crypto assets, while the digital wallet lets people manage their crypto in a user-friendly environment. By the way, merchants can also use it as an mPOS (mobile point of sale) to accept crypto payments. Pretty neat.
The marketplace is a global merchants' aggregator that provides users with over $1 billion liquidity per day to spend crypto assets on major e-commerce platforms, such as Amazon.
Very simply, this means you decide how much (or how little) of your crypto you want to liquidate so that you can actually buy stuff on the marketplace.
The shopping experience itself is simple. First, users browse as a typical shopping experience, using the marketplace, even taking advantage of search filters. Then, you can add items to your cart, select your tokens from your wallet and get your virtual card issued to complete your payment.
Plans also include Google Chrome Extension integration, which allows users to buy anything from anywhere globally with their crypto simply by connecting their existing digital wallets.
As a bonus, the ZoidPay digital wallet can also be used in physical stores simply by using your smartphone as a POS (point of sale.)
ZPAY Token is one to watch
ZPAY is ZoidPay's native token and the backbone of the ZoidPay Marketplace economy, offering several benefits to users. These range from zero transaction fees to exclusive staking rewards, discounts, and of course, access to the Marketplace itself.
According to the company's whitepaper, ZPAY has a total supply of 700 million coins, with a listing price of $0.16 per coin. Thus, this is a functional token with good value and potential.
The end of Fiat?
With an ever-increasing interest in crypto payments, the MasterCard New Payments Index shows that 93% of consumers are considering crypto for their online shopping ventures.
It's start-ups like these that investors need to be keeping eyes on, this is the future of online shopping, and the market is only getting hotter.
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
