Oobit, a mobile payment application, has unveiled its Tap & Pay solution.
According to an official release, this feature enables users to make purchases with their cryptocurrencies, while merchants can receive payments in their local fiat currency. It’s believed that users can get benefits of tokenised payments, with cryptocurrencies converted to fiat in real time. Sources suggest that Oobit’s Tap & Pay feature will initially roll out in Europe and the UK, catering to Android and iOS users.
“We aimed to develop a value chain that empowers crypto holders to Tap & Pay at any store using their Oobit application through Visa and Mastercard POS terminals, with merchants receiving payment in fiat currency just like a credit card transaction. In the future, our Web3.0 solution should open the door to users focused on self-custody but still looking for an option to spend their crypto,” Amram Adar, CEO, Oobit, stated.
