- Xigem Technologies (XIGM) has announced plans to add cryptocurrency payment gateway and processor capabilities to FOOi, its mobile payment app
- The added functionality will enable digital payments through peer-to-peer and peer-to-business transactions
- A cryptocurrency-enabled FOOi provides benefits to both merchants and consumers
- FOOi merchants will be able to use cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Bitcoin Cash
- FOOi users will be able to exchange their funds into cryptocurrency instantly, and make payments
- Xigem operates as a SaaS technology platform for the emerging remote economy
- Xigem Technologies Corporation (XIGM) opened trading at C$0.20 per share
Xigem Technologies (XIGM) has announced plans to add cryptocurrency payment gateway and processor capabilities to FOOi, its mobile payment app.
The added functionality will enable digital payments through peer-to-peer and peer-to-business transactions.
A strengthened, cryptocurrency-enabled FOOi will deploy the most efficient and advanced technology in an easy-to-use payment app that delivers benefits to both merchants and consumers.
FOOi merchants will be able to use cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Bitcoin Cash for their business, in addition to fiat currencies. FOOi will be integrated with the most popular eCommerce platforms, allowing merchants to accept cryptocurrency payments from customers.
FOOi users will be able to exchange their funds into cryptocurrency instantly and make transfers between peers, as well as using FOOi to complete payments on a checkout page. FOOi will retain its traditional advantages of easy setup, low transaction fees, full transparency and customer privacy.
Anton Tikhomirov, chief technology officer of Xigem commented,
“The cryptocurrency payment gateway market is experiencing a period of rapid growth, and feedback from prospective FOOi merchants consistently calls for us to prioritize these enhancements.
We plan to build on the existing strengths of FOOi to launch a differentiated payment app that can meet the evolving needs of consumers and businesses.”
The company plans to integrate FOOi as a payment gateway across all Xigem products. FOOi Bluetooth Beacon technology will also be extended to allow transfers of cryptocurrency when another FOOi user using Bluetooth.
More than US$1.5 trillion is held in digital currencies worldwide which are increasingly being used to purchase goods and services. According to Chainalysis, payment platforms that allow retailers to accept Bitcoin and other digital currencies handled US$1.42 billion in transactions in the three months ending in June 2021, an increase of 133 per cent from the same period a year earlier.
Xigem operates as a SaaS technology platform for the emerging remote economy.
Xigem Technologies Corporation (XIGM) opened trading at C$0.20 per share.
