Glance Technologies Inc., a Canadian mobile payments company is now allowing users of its platform to pay for services using Bitcoin. The company recently announced its new payment feature called, ‘Pay With Bitcoin,’ and it will enable customers and merchants to transact using a cryptocurrency.
Merchants’ Unwillingness to Adopt Cryptocurrency Due to Slow Transactions
A glance in a press release outlined several reasons why some merchants refuse to adopt cryptocurrency as a method of payment. One of such is that transactions may take a longer time to be completed in comparison with fiat money. Also, setting up these digital wallets can sometimes be a complex process.
Therefore, this new feature was launched to enable crypto enthusiasts to use Bitcoin in their everyday life. It also ensures that merchants do not encounter delays while receiving payments. With the ‘Pay With Bitcoin’ option customers can scan their cryptocurrency wallet on the Glance pay platform, and then transfer their Bitcoin to it before it is finally converted to Glance dollars.
Customers to use Glance Dollars for Making Online Payments
Glance dollars is the company’s fiat money that serves as a credit or unit of payment which customers can spend. This means that merchants do not directly receive the Bitcoin sent by customers, but get the dollar equivalent. That being the case, Glance has once again served as a third party between customers and service providers.
Desmond Griffin, CEO of Glance Technologies revealed that they are always developing new payment features on their platform. They aim to enable the company to meet the trends in modern technology. He also added the new system offers a “cutting edge payment for merchants” and allowed users to take advantage of the value held in their crypto wallet.
Privately Owned Companies Adopting Bitcoin for Payments
Other platforms are also accepting Bitcoin as a method of payment. An instance is the case of IvyPay, an Australian payment service that enables citizens to pay their bills using Bitcoin. The platform also accepts Litecoin, Bitcoin Cash, Ethereum, and Ripple. It’s also remarkable that these cryptocurrencies can be converted to Australian dollars. The money can then be sent to the user’s bank account.
A Zimbabwean online store is another platform where payments for foodstuff can be made with Bitcoins. On this store, citizens can shop for Rice, Wheat, Oil, as well as toiletries. The store seeks to offer the most affordable goods to the ordinary user and make them easily accessible. What’s more? Homes can get a delivery of these goods within ten days.