XRP can now be accepted by merchants using cloud payments thanks to a partnership involving BitPay.
A US-based cloud payment company Gr4vy announced that they had entered a partnership with BitPay, which will allow XRP to be accepted and used by merchants. Gr4vy made this known to the public on Wednesday, 21 September 2022.
XRP has been in partnership with BitPay as early as 2019, but it was further amplified when it was announced that Ripple could now be used to process cloud-based transactions.
According to the CEO of Gr4vy, the partnership will make it possible for people to transfer XRP and other cryptocurrencies quickly. This cloud payment system provided by Gr4vy will allow merchants to instantly add BitPay to their payment method without needing any code.
BitPay also announced that they would make their wallet available on different platforms to ensure that merchants don't experience any problems.
Apart from XRP, other cryptocurrencies such as Ethereum, Bitcoin, Litecoin, and other cryptos on BitPay can now be used by merchants.
In a statement made by John Lunn, CEO of Gr4vy, "Today's consumers continue to demand alternative ways to pay. Merchants looking to stay competitive can no longer afford to offer various payment methods, like crypto, or they will find customers opting for Merchants who meet their payment needs".
The CEO of Gr4vy stated that they chose BitPay because they considered them a global leader in blockchain payments. According to Lunn, "as a trusted global leader in blockchain payments, BitPay was the perfect partner for our platform based on over 11 years of blockchain payment expertise. We're committed to helping merchants tap into the massive crypto market and take on crypto payments."
BitPay Says Cloud-Based Transaction will be Cheap and Easily Accessible
BitPay also pacified merchants who feared the cloud payment service's availability and gas fees.
According to the CEO of BitPay, Stephen Pair, payments with XRP and other cryptocurrencies won't take more than a business day. He also stated that merchants only have to pay 1% transaction fees.
"At BitPay, we are proud to be the world's leading provider of Bitcoin payment technology and see the future of payments in the blockchain. A lot of other companies doing cryptocurrency payments put there don't look at it from the perspective of the entire workflow of payment, we do," Stephen Pair said.
Gr4vy further mentioned that cryptocurrencies like XRP would now be deployed and used in a personalized manner. To achieve its commitment to this partnership, BitPay says that it has made its services available in more than 200 countries and territories.
BitPay Partnership Benefits
According to the CEO of BitPay, the partnership will help achieve its commitment to providing the best payment services with cryptocurrencies like XRP.
"We chose to partner with them because they share our same commitment to deliver best-in-class services when it comes to payments. Working with Gr4vy's payment orchestration platform makes it easy for merchants to add a crypto payment option," he said.