WinstantPay recently integrated Dash, the global payment network. In just 2 seconds, the Network will tap Dash’s InstantSend feature. Furthermore, at a nominal fee for 1% of transactions and conversion fees, the amount is exchanged and deposited in dealers linked with the bank account. Due to the high exchange – rate risk the integration of several merchants will help to break the investment crypt barrier. Facilities for easy and immediate use of crypto payments remain a major obstacle in the world’s driving mass adoption. Many dealers accept cryptocurrencies for their company, but often do not have the time to learn how the technology and the inherent currency risks from price volatility to complicated exchange processes are handled.
DASH THAILAND & WINSTANTPAY SIGN PARTNERSHIP TO ENABLE INSTANT PAYMENTS & INSTANT FIAT SETTLEMENTS FOR DASH TRANSACTIONS WORLDWIDE. PLEASE SEE THE FIRST FULL PRESS RELEASE IN LINK BELOW: https://t.co/Enws73HHLP
— Dash Thailand (@DashinThailand) March 20, 2019
Rob Grantham, Chief Executive Officer of WinstantPay, said,
“Financial institutions are using Dash’s instant settlement to settle international transactions to avoid the risk.”
Dash’s unique ability to send transactions immediately and WinstantPay’s ability to convert Dash instantly into a number of fiat currencies are essential to this solution.
Register merchants; download and link their bank accounts with a WinstantPay merchant wallet. The dealer can then enter a fiat price, generate a QR code and allow the customer to pay a fixed conversion fee in Dash. With the WinstantPay network operating behind the scenes, Dash will be converted to a retailer’s currency, at the exact rate indicated at purchase.
Dash and WinstantPay believe together that while crypto payments may be faster than the payment of cards, there remains the lack of confidence of dealers and some confirmation will be required. But InstantSend is an additional advantage when deploying Dash’s main node network. The reason for this is because it gives confirmatory lock-in and prevents a double – gate attack. In addition to traditional methods of payment and the credit currency, this is of added value for merchants.
The long – term goal is for merchants to accept cryptocurrency and pay their bills and overheads in cryptocurrency, to pass their money into the ecosystem and to make it easier for them to accept cryptocurrency.
Cryptocurrency adoption is increasing. It is very clear that Avnet is now accepting crypto payments, one of the world’s largest distributors of electronic components. The company has partnered with the Bitpay payment processor. Customers are now able to pay for services and products via Bitcoin(BTC) and Bitcoin Cash(BCH). Avnet is considered the third largest US company to accept payments from Bitcoin.