London-based fintech Zeux aims to be the first fully mobile payment app to allow fiat and crypto payment at stores accepting Apple Pay or Samsung Pay. The company recently announced that it will list cryptocurrencies Qtum and Bitcoin SV (BSV), and customers will also be able to spend Bitcoin and Ethereum.
Zeux is a digital banking solution that combines all banking activities on a single app to bridge the gap between traditional point-of-sale (POS) payment systems and the new era of crypto. The company says its app will also feature a built-in investment platform and a foreign exchange function.
The new partnerships allow holders of BSV and Qtum to make cryptocurrency payments at shops using Apple Pay and Samsung Pay.
Shoppers will be able to go to a store, select their preferred cryptocurrency for purchases, and activate their Apple Pay or Samsung Pay against the POS. The merchant will then receive fiat, and the cryptocurrency will be deducted from their Zeux digital payments wallet.
Zeux integration exposes cryptocurrencies to thousands of merchants who currently only accept fiat payments. Customers can also choose to complete payments in fiat currencies.
Says Miguel Palencia, chief Information officer of Qtum Foundation,
“This adds a tremendous amount of additional utility for our valued community who can now use QTUM for all point-of-sale payments with merchants that accept Apple Pay and Samsung Pay. Zeux has created a seamless way for people to use crypto in their day-to-day lives without the friction of choosing from a select group of merchants who accept crypto directly.”
Says Jimmy Nguyen, founding president of the Bitcoin Association,
“Bitcoin is supposed to be genuine digital money and Zeux’s forward thinking platform makes this an immediate reality. BSV has shown recently with a 100MB mined block that it can properly scale and now it is showing utility as well. Scalability and use are the most important factors is demonstrating how Bitcoin, by which I mean BSV, can become a global, low-transaction fee, digital currency.”
Regulated by the UK’s Financial Conduct Authority (FCA), Zeux integrates banking, investing and payments on one app. The crypto-to-fiat solution charges customers no fees for crypto payment commissions or for opening an account, or making money transfers or top ups.
The app is set to launch in the UK in April.