Crypto.Com Pay Now Powers CRO Payments From Any ERC-20 Wallet

By AIT News Desk On Aug 28, 2020

Enables Merchants to Expand Reach to 30 Million + Crypto.com Wallets

Crypto.com announced that Crypto.com Pay the company’s payment solution for online merchants will now support CRO payments from any ERC-20 wallet. This evolution of Crypto.com Pay will help merchants expand their reach by giving customers more wallet options to spend CRO and increase transaction volume.

There are an estimated 30 million+ ERC-20 wallets in use throughout the global crypto industry, representing a massive market for merchants seeking to attract crypto users. Today’s enhancement of Crypto.com Pay allows merchants to drive broad acceptance of payments from all ERC-20 wallets.

Kris Marszalek, Co-founder and CEO of Crypto.com said: “This marks an important milestone in CRO utility and a major step towards widespread adoption of CRO. Now, any user with an ERC-20 wallet can transact with Crypto.com Pay merchants. Those merchants will benefit from a large customer base using 30M+ ERC-20 wallets, regardless of which wallet customers choose to use.”

Benoît Pellevoizin, VP of Marketing at Ledger, said: “As one of the most prominent crypto industry players. It is Ledger’s duty to stimulate crypto adoption for all comers. At Ledger we are convinced crypto mass adoption will be brought by new services enabling regular digital usage such as ecommerce payments. Ledger is very glad to partner with Crypto.com by supporting CRO tokens on Ledger Live. From now on, Ledger’s users will be able to pay in CRO ERC-20 tokens with Ledger Live on ecommerce websites supporting this new Crypto.com Pay feature.”

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Alen Salamun, CTO of BC Vault, said: “This is what blockchain is all about in the first place! It is always nice to see a company as Crypto.com provide more and more real-world use cases for their token (CRO). Since BC Vault hardware crypto wallet supports all ERC-20 tokens in existence with the launch on Crypto.com Pay system now BC Vault users are able to pay directly from within the BC Vault desktop application to any merchant supporting Crypto.com Pay on-chain payment. Our valued customers will also be able to pay for their BC Vault hardware crypto wallet in our online store using any existing ERC-20 wallet holding CRO tokens. Now you can even buy BC Vault with BC Vault!”

Steve Hipwell, Co-Founder and COO of Travala.com, said: “We are the world’s largest blockchain-based online travel company, which means it’s critical that we offer Travala.com users flexible payment options in crypto. By accepting CRO payment from any ERC-20 wallet, Crypto.com Pay opens up crypto payments to millions more wallets, making it easier to pay for bookings and bringing us one step closer to widespread crypto adoption.”

Since launching in 2018, Crypto.com Pay has helped merchants such as Ledger, Coinzilla, as well as platforms such as WooCommerce and Oveit tap into the global cryptocurrency economy and accept crypto on their website. Crypto.com Pay features zero transaction fees and only 0.5% for settlements – an 80% saving on fees compared to typical payment processors – with low volatility and easy integration for merchants. Merchants interested in offering Crypto.com Pay to their customers can sign up here.

For users, all payments made in CRO are entitled to CRO cashback, known as Pay Rewards, which are collected in the user’s Crypto.com App. Until Sept 30th, 2020, customers paying with wallets other than Crypto.com’s App can also enjoy the 2X Pay Rewards privilege enjoyed by App users with 10,000 CRO staked in Exchange or with an active 3 Months Earn term, which is up to 10% of Pay Rewards. If the email provided by the customer does not belong to a Crypto.com App account, the Pay Rewards can still be able to be collected if the someone uses that email to sign up at Crypto.com App and verified within 90 days.