from DION HENRICK in Cape Town
Western Cape Bureau
CAPE TOWN, (CAJ News) – THE adoption of Web3 payments in South Africa is forecast to increase following a partnership between Callpay and Xion Global.
The two firms comprise a major player in South Africa’s payments industry and a Web3 payments provider, respectively.
Web3 is a concept for a new version of the World Wide Web, which incorporates concepts such as decentralization, blockchain technologies and token-based economics.
The partnership between Callpay and Xion is set to broaden payment options for customers, providing the convenience of Xion’s one-click crypto checkout that combines ease of use with cost savings, enabling quick and secure transactions in Africa’s largest economy.
Merchants are said to benefit from reduced transaction fees and the elimination of chargebacks, enhancing efficiency and giving them a competitive edge.
The partnering organisations said this positions merchants to attract new customers and create customized payment options, while reducing fraud risk and enjoying quicker settlement of payments.
“We are thrilled to partner with Callpay to bring our cutting-edge Web3 payment solutions to the South African market,” said Ronan Quarmby, Chief Executive Officer of Xion Global.
“This partnership will allow us to leverage our technology to support Callpay in expanding their reach in Web3 payment abilities and delivering further innovative payment solutions to their client base,” Quarmby said.
Xion will be utilising Callpay application programming interfaces (API) to enhance its service offering.
This integration is part of a phased rollout plan, starting with gasless USDT transactions and later expanding to multi-chain payments and cashback rewards.
USDT refers to Tether, a crypto currency stablecoin.
“This partnership is a significant step forward for Callpay as we continue to expand our market leadership,” said Arthur Peace, CEO of Callpay.
With over six million people in South Africa currently owning crypto currency, this partnership is seen as timely and aligning with the increasing adoption of crypto currency payments in the region.
– CAJ News