As cryptocurrencies become more and more mainstream, but fiat money and payment systems are not integrated yet, HyperPay HPY is creating a multi-purpose wallet to hold all your digital currencies and use a variety of transaction options. We had a look at their site and will tell you all details in our review below.
What is HyperPay HPY?
The team around HyperPay have developed a multi-currency, multi-purpose payment solution system that can access, exchange and transact funds for users and third party service providers. Currently, users have to deal with third-party payment platforms plus our digital wallets for their overall financial lives.
HyperPay has created a wallet, and already released the Beta version on January 15th, which is agile, secure and combines all transaction methods into one single gateway. This way, customers can better organize their finances and increase control of any payment options.
The platform will allow it’s users to us the HyperPay wallet for the following features plus powerful storage and transfer capabilities:
- Spending digital currencies
- Converting digital currencies
- Use third-party payment platforms
- Receive Digital Currencies
- POS Mining
- Accept third-party wallet payments
- Convert to local currency
Currently, the wallet supports Bitcoin, Ethereum, Hcash but additional currencies will be added soon. The HyperPay wallet holds multiple currencies and can exchange funds in real-time.
HyperPay HPY For Merchants
While the app will be available to everyone, HyperPay is useful for retailers of any kind as well. By providing buyers with multiple transaction possibilities, a business can take a front position and prepare for the next age of payments, as the payment sector is shifting from cards towards digital wallets.
Bitcoin has entered the mainstream already since its massive increase period at the end of 2017, right now other digital currencies follow and have increased in popularity. Global commerce and international trade will be highly affected by this.
HyperPay will suggest a solution for the expanding range of payment choices for customers whether they are local or just visiting. If a customer holds digital currencies, converting them to a local currency can be annoying and may cause issues with banking and accounting.
The HyperPay app makes it possible to take care of the payment of transactions free a business of the burden that digital currency exchanges may involve.
Cryptocurrencies have already disturbed the payment ecosystem because one of the goals of the idea around Bitcoin was to decentralize the federal banking system and help people, who are considered to be ‘unbanked’. HyperPay believes that the existing international payment system is disorganized, no inclusive to all and monopolized by powerful institutions.
For these reasons, HyperPay is looking to partner with migrant and refugee help organizations in Australie to start helping those who most likely benefit from digital currencies.
HyperPay HPY Verdict
Having a system to store multiple currencies and use different payments systems is useful and we are curious to see how the Beta version is received by the cryptocurrency community. The company has not yet released their white paper, which we are interested to read soon.