back Back

Monneo launches cryptocurrency payments processing for merchants

By Joy Dumasia

April 22, 2022

  • Crypto Wallets
  • Cryptocurrency Payments
  • Europe
Share

Monneo, Latin America, Brazil, Electronic Payments, PIX, e-commerce, PicPay, Financial Services, International PaymentMonneo has simplified the process of making and receiving online cryptocurrency payments. Thanks to its recently launched service, Monneo enables online merchants to accept cryptocurrency payments natively through their websites. The new solution converts the cryptocurrency payment into its equivalent fiat currency value, and then Monneo settles it to the IBAN of the merchant, also provided by Monneo in a time and cost-effective manner.

Monneo’s unique crypto payment solution ensures merchants do not take any volatility risk. The customer has 15 minutes to complete the transaction where the crypto to fiat rate is locked in, and the merchant receives the full fiat amount, regardless of any rapid exchange rate fluctuations. It uses the Lightening Network (where available), the second layer of technology which helps facilitate cryptocurrency to be exchanged instantly.

With an increase in demand for payments made in cryptocurrency, Monneo’s new service, which is highly accessible and integrated within the company’s existing application, makes the cryptocurrency payment process easier for customers and online merchants alike. With over 300 million cryptocurrency owners worldwide, the new update could soon help online merchants expand their customer base, improving revenue levels in the process. 

Since its formation, Monneo has worked to develop a one of a kind, end-to-end payments ecosystem, which addresses several longstanding issues that online merchants have had to deal with for many years. Now, the company has taken this service to new heights through the introduction of a unique cryptocurrency payment service, which simplifies the process of accepting online cryptocurrency payments. 

Speaking on the update, Lili Metodieva, Managing Director of Monneo, commented: “We’ve all witnessed the huge growth of cryptocurrency in recent years, but many online merchants have been unable to truly take advantage of this trend. Fortunately, this will now change thanks to a new update to our leading payment ecosystem platform, which is available to all merchants currently using our services. The new platform converts cryptocurrency payments into a fiat alternative, using real-time conversion rates. Being able to lock in the rate of conversion gives peace of mind that the payment is locked in place for 15 minutes with our in-built mechanism protecting online merchants and consumers from the effects of market volatility. We’re now looking forward to seeing how it helps our customers take advantage of this important area.”

Previous Article

April 22, 2022

U.S. Bank, Apex Fintech Solutions to deliver real-time payments to brokerages

Read More
Next Article

April 22, 2022

Kyndryl expanded its strategic partnership with SAP to help customers overcome digital transformation challenges

Read More








IBSi Daily News Analysis

March 22, 2024

Crypto Wallets

Industry experts stress modernization, sustainability, and AI as cornerstones for future of corporate banking, Finastra study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

5 Major FinTech Acquisitions announced in March 2024

Read More

Today

Tempo France suspends classical remittances, to focus on DeFi

Read More

Today

Qonto unveils its first in-house financing offer, ‘Pay later’

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023