HIPS and The Payment House announce a partnership to allow cryptocurrency as a payment for cabs in UK and Scandinavia. It accepts cryptocurrencies over the Ethereum blockchain, according to an announcement.
HIPS payment group Ltd provides innovative and cost-effective e-commerce and mobile payment solution. The payment House, a Nordic European and Global entity leads payment processor for Taxi Company in Scandinavia and UK. They announced their partnership would enable payment with cryptocurrency in over 20,000 taxes in Scandinavia and 10,000 taxis in the UK.
This solution planned to roll out in beta in November 2021. It will use Hips Merchant protocol (HMP), and HMP gateway over Ethereum. HMP, HMP gateway, and Governing merchant token (MTO) is a solution that introduces consumer protection concepts from Traditional card payment to Ehtereum blockchain.
“With this important partnership, Hips provides another avenue for crypto payment to have market penetration. The consumer-oriented features of the MTO will future allow cryptocurrency to gain worldwide mass adoption among mainstream consumers,” says John Cavebring, CEO of Hips.
Two companies will leverage each other’s technologies so that consumers can easily use crypto payment at real-time transaction speeds. The Hips system joins a host of payment solutions allowing crypt to use as payment for everything from Time Magazine subscription to Organic Vegetables.
“We are pleased to partner with Hips as this new payment convenience will enable taxi companies to resize more opportunities in the new economy. The partnership takes payment processing to the next frontier for transaction services,” says Staale Reiersen, Group CEO of the Payment House.
Merchant Token (MTO), and USD Coin (USDC) will be the only token available to pay with at this time. Will evaluate other cryptocurrencies after the beta time period.
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Earlier this month, the HIPS system is designed for any blockchain with support for smart contracts. Shortly, it will use not only Ehtereum but also Cardano and Solana, among others.
Hips Payment group Ltd.
HIPS Payment Group Ltd. is a provider of innovative and cost-effective e-commerce and mobile payment solutions. It disrupts the finance industry with its payment gateway for sales e-commerce. It fully integrated digital financial commerce platform with complete reconciliation and financing support.
The Payment House
The payment House delivers solutions for a broad scope of business areas. Primary focus on using the newest technology, the market’s most advanced mPos solutions. Along with their mobile payment solution, eezee pay. It highly delivers efficient products and services to its consumers, giving them access to a wide range of payment services. The Payment House has offices in Norway, Sweden, Latvia, and the UK.
