Crypto-Enabled Payment System Introduced by aBey Foundation

Asia Blockchain Review
November 25, 2019

Dr. Ciprian Pungila, co-founder of aBey Foundation, recently revealed that the firm successfully developed a crypto-enabled payment system in which users can make transactions using cryptocurrencies through credit card integration.

Connecting Cryptocurrencies and Cards

According to Cointelegraph, the announcement was made at Blockshow Asia 2019 in Singapore, when the co-founder of aBey Foundation said the company developed aPay, a platform connects the gap between cryptocurrencies and credit cards.

Dr. Pungila revealed that with aPay, customers can use crypto for daily payments as the platform will allow them to access credit cards operated by Mastercard, Visa and UnionPay.

Moreover, aPay is run on a blockchain which will permit faster payments.

“aBey is designed and built to be among the fastest and most flexible open source chains in the world, providing a practical solution for common e-commerce use cases,” Pungila said.

aPay supports numerous cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Dash, EOS, Ripple and ZCash, he added. With aPay, merchants are not required to accept crypto, only traditional credit card payments. 

Looking Forward to a Blockchain Future

Dr. Pungila also believes blockchain technology is set to disrupt the banking and financial systems, stating:

“The financial technology industry has been impacted by the development of blockchain technology, but there is still not much clarity on how it will change our lives. It is certain that there is no turning back, and therefore we must build applications and solutions to accept and develop this change.”

The aBey co-founder noted that aBey’s blockchain technology will offer further services to support other types of transactions, such as home loans and commission payments.

Source: https://cointelegraph.com


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