London-based micropayment company pingNpay announced on Monday that it will launch its network next year by offering customers a small payment platform.c according to its press release.

The new payment method is initially expected to be introduced in the UK next year. Customers who pay less than $ 20 for offline and online services or products can enjoy such a convenient payment service.

The blockchain-based network uses stable coins in all its countries of operation and adds that digital coins are supported fiat currency in each country, originally the British pound, to ensure that regulatory expectations are met.

In addition, the forum also announced its efforts to “create new class developers and smart contracts for high-frequency; and low-value payments” customers.

Richard Bell, founder of PingNpay, said that “the unveiling of pingNpay comes at an important time for the subscription and digital services economy, which has grown significantly during the Covid-19 pandemic.” In addition, the former Ripple director said the platform had filled a free gap.

“No one has yet broken into the digital payments market under $ 20. The largest card networks can process tens of thousands of payments per second, but still the cheapest debit card payments cost retailers at least £ 20 per payment, equivalent to 20% of a £ 1 payment.

Thanks to a “strong fintech ecosystem and a forward-looking regulatory environment,” the pingNpay release said. The company decided to launch its services first in the UK before expanding its business overseas and making blockchain a reality for retailers and consumers.

Crypto-related payment methods are diversifying around the world. Last month, the luxury hotel Chedi Andermatt in Switerland, announced accept Crypto as a payment method. Meanwhile, Singapore-based online press Initium Media also accepts memberships in Crypto since August.

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